Here’s a full breakdown of BlueStone Jewellery & Lifestyle Limited IPO:
Founded: 2011 in Bengaluru, initially as New Age E‑Commerce Services Pvt Ltd, later renamed to its current form by November 2024.
Headquarters: Bangalore, Karnataka.
Core Offering: Contemporary lifestyle jewellery—diamonds, gold, platinum, and studded pieces—sold through an omni‑channel model, including website, mobile app, and a nationwide retail footprint.
IPO Dates
| Event | Date |
|---|---|
| Opening Date | August 11, 2025 |
| Closing Date | August 13, 2025 |
| Basis of Allotment Finalized | August 14, 2025 |
| Refund Initiation | August 18, 2025 |
| Shares Credited to Demat | August 18, 2025 |
| Listing on BSE & NSE | August 19, 2025 |
IPO Details
- Face Value: ₹1 per share
- Issue Price Band: ₹492 to ₹517 per share
- Lot Size: 29 Shares
- IPO Size: ₹1,540.65 crore total via a book-built issue.
- Fresh Issue: 1.59 crore equity shares worth ₹820 crore.
- Offer for Sale (OFS): 1.39 crore shares worth ₹720.65 crore sold by existing shareholders
- Listing At: BSE, NSE
- Share Holding Post Issue: 15,13,20,372 shares
GMP of BlueStone Jewellery & Lifestyle Limited IPO
Here’s the current Grey Market Premium (GMP) for the BlueStone Jewellery & Lifestyle Limited IPO:
Unofficial grey market trades show the shares are going at ₹552, which represents a premium of ₹35 (i.e., 6.8%) over the upper end of the price band.
Reports a GMP of ₹17, giving an estimated listing price of ₹517.
Suggests a broader GMP range of ₹35 to ₹50, though this isn’t verified by primary sources.
Summary
| Source | Estimated GMP | Listing Estimate |
|---|---|---|
| Business Standard | ₹35 | ₹517 (₹552 unofficial) |
| IPOWatch | ₹17 | ₹517 |
| GetUltra | ₹35–₹50 | ₹527–₹567 (depending on GMP) |
Promoters of BlueStone Jewellery & Lifestyle Limited
Here are the promoters of BlueStone Jewellery & Lifestyle Limited, based on the latest available data:
- Prashanth Prakash
- Gaurav Singh Kushwaha
- Vikram Gupta
- Rumit Dugar
- Sameer Dileep Nath
- Roopa Hegde
Gaurav Singh Kushwaha
- Roles: Chairman, Managing Director (MD), and Chief Executive Officer (CEO)
- Qualifications: Degree in Computer Science & Engineering from IIT Delhi
- Experience: Previously associated with Tavant Technologies (India), Amazon Development Centre (India), and Chakpak Media
Prashanth Prakash
- Position: Non‑Executive Nominee Director
- Educational background: BE (Computer Science & Technology) from Bangalore University, MS from the University of Delaware, and an honorary Doctorate of Science from University of Mysore
- Professional Ties: Longstanding association with Accel India Management (venture capital firm) since August 2008
Sameer Dileep Nath
- Position: Non‑Executive Nominee Director
- Education: Degree in Political Science from Middlebury College; MBA from University of Chicago
Summary Table
| Promoter Name | Role(s) in IPO Context | Background Highlights |
|---|---|---|
| Gaurav Singh Kushwaha | Chairman, MD, CEO | IIT Delhi grad; prior stints at Tavant, Amazon, Chakpak |
| Prashanth Prakash | Non‑Executive Nominee Director | Engineering & MS degrees; Accel India veteran |
| Sameer Dileep Nath | Non‑Executive Nominee Director | Political Science & MBA; Head of VC/PE at 360 ONE Asset |
BlueStone Jewellery & Lifestyle Limited IPO Lot Size
Here’s the BlueStone Jewellery & Lifestyle Limited IPO lot size information presented in a clear table format for easy reference:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 29 | ₹14,993 |
| Retail (Max) | 13 | 377 | ₹1,94,909 |
| S-HNI (Min) | 14 | 406 | ₹2,09,902 |
| S-HNI (Max) | 66 | 1,914 | ₹9,89,538 |
| B-HNI (Min) | 67 | 1,943 | ₹10,04,531 |
BlueStone Jewellery & Lifestyle Limited IPO Promoter Holding
Here’s the detailed information on BlueStone Jewellery & Lifestyle Limited‘s promoter holding structure:
| Description | Holding (%) |
|---|---|
| Pre-IPO Promoter Holding | ~18.28% |
| Post-IPO Promoter Holding | ~16.07% |
As per the IPO prospectus details, Gaurav Singh Kushwaha—who serves as the Chairman, MD, and CEO—is the primary promoter. His shareholding stood at approximately 18.28% before the IPO. Post-issuance, owing to dilution from the fresh issue and Offer-for-Sale (OFS), his stake is expected to be around 16.07%.
Summary
- Primary Promoter: Gaurav Singh Kushwaha
- Pre-IPO Holding: ≈ 18.28%
- Post-IPO Holding: ≈ 16.07%
- Pledged Shares: ~37.7% of his pre-IPO holdings are pledged (9.22 lakh shares) to a lender.
About BlueStone Jewellery & Lifestyle Limited
Established in 2011 in Bangalore, originally named New Age E‑Commerce Services Pvt. Ltd.; rebranded to BlueStone Jewellery and Lifestyle Ltd. upon its conversion to a public limited company in November 2024.
Founder & Leadership: Gaurav Singh Kushwaha—an IIT Delhi alumnus—is the driving force behind the brand’s omni-channel evolution.
Business Model & Product Range
- BlueStone is one of India’s largest digital-first omni-channel jewellery brands, offering contemporary designs in diamond, gold, platinum, and gemstone categories.
- The brand operates through a seamless ecosystem: website, mobile apps (iOS & Android), and physical stores—ensuring a cohesive customer journey.
- Known for in-house design and manufacturing capabilities, BlueStone leverages its own tech stack for end-to-end operations—spanning design, rendering, inventory, and merchandising.
Summary Snapshot
| Feature | Description |
|---|---|
| Founded | 2011, Bangalore |
| Business Model | Digital-first omni-channel jewellery brand |
| Product Range | Diamond, gold, platinum, gemstone jewellery |
| Distribution Channels | Website, mobile apps, 275 stores (offline) |
| Manufacturing Capabilities | In-house across multiple facilities |
| Market Position | #2 in omni-channel segment, strong tech edge |
| Revenue | ₹788 Cr (2023) → ₹1,265 Cr (2024), upward trend |
| Profitability | Yet to turn profitable, losses narrowing |
| Key Value Differentiators | Customization, certification, after-sales |
BlueStone Jewellery & Lifestyle Limited Financial Information
Here’s a clear breakdown of BlueStone Jewellery & Lifestyle Limited key financials, based on the most reliable publicly available sources:
| Period Ended | 31 Mar 2025 | Mar 31 2024 | 31 Mar 2023 |
| Assets | ₹3,532.28 Crore | ₹2,453.49 Crore | ₹1,255.49 Crore |
| Total Income | ₹1,830.04 Crore | ₹1,303.49 Crore | ₹787.89 Crore |
| Profit After Tax | ₹-221.84 Crore | ₹-142.24 Crore | ₹-167.24 Crore |
| EBITDA | ₹73.16 Crore | ₹53.05 Crore | ₹-56.03 Crore |
| Reserves and Surplus | ₹877.12 Crore | ₹346.28 Crore | ₹-81.06 Crore |
| Total Borrowing | ₹728.62 Crore | ₹430.43 Crore | ₹228.42 Crore |
Key Performance Indicator (KPI)
Here are the Key Performance Indicators (KPIs) for BlueStone Jewellery & Lifestyle Limited, based on the most recent financial years and IPO documents:
| KPI | Values |
|---|---|
| ROE | -34.53% |
| ROCE | -3.67% |
| Debt/Equity | 0.80 |
| RoNW | -24.45% |
| PAT Margin | -12.53% |
| EBITDA Margin | 4.13% |
| Price to Book Value | 2.01 |
Strengths of BlueStone Jewellery & Lifestyle Limited IPO
Strong Omnichannel Presence & Scale
- BlueStone is the second-largest digital-first omni-channel jewellery brand in India, offering seamless online and offline shopping. It leverages a wide network of physical stores and mobile/web platforms.
In-House Tech & Manufacturing Strength
- It boasts a fully integrated technology stack and manufacturing capability, with over 75% of products produced in-house across facilities in Mumbai, Jaipur, and Surat.
Robust Revenue Growth Trajectory
- Revenue surged from ₹787.9 Cr in 2023 to ₹1,265.8 Cr in 2024—a growth of over 60%.
Highly Scalable Pan-India Footprint
- Strong presence across 26 states and union territories, supported by an efficient combination of company-owned and franchise-operated stores.
Risks of BlueStone Jewellery & Lifestyle Limited IPO
Brand Reliance & Reputation Risk
- The company’s performance is heavily tied to maintaining the “BlueStone” brand image. Any negative publicity or poor customer experience could impair brand trust.
Inventory & Demand Volatility
- Misjudging customer preferences could lead to excessive inventory, markdowns, and cash flow stress—especially in the jewellery segment where costs are high.
Execution Challenges & Expansion Risks
- Scaling rapidly poses operational and managerial challenges. Failing to meet growth targets or manage costs effectively could impact profitability. (Implied from overall growth narrative.)
Prolonged Financial Losses
- Despite momentum, the company remains unprofitable. In 2024, it posted a net loss of ₹142.2 Cr, and 2025 loss deepened to ₹221.8 Cr.
Summary
| Category | Highlights |
|---|---|
| Strengths | Omnichannel dominance, in-house manufacturing, fast revenue growth, scalable footprint |
| Risks | Brand sensitivity, inventory demand misalignment, expansion execution risk, persistent losses |
BlueStone Jewellery & Lifestyle Limited Contact Details
Here are the official contact details for BlueStone Jewellery & Lifestyle Limited, as extracted from the IPO prospectus and other reliable sources:
Registered Office (Bengaluru):
- Address: Site No. 89/2, Lava Kusha Arcade, Munnekolal Village, Outer Ring Road, Marathahalli, Bengaluru 560 037, Karnataka
- Phone: +91 80 4514 6904
- Purpose: General corporate correspondence
IPO Registrar Details
- Registrar to the Offer: KFin Technologies Limited
- Contact Person: M. Murali Krishna
- Email: bluestone.ipo@kfintech.com
- Phone: +91 40 6716 2222
Customer Support Details
If you’re reaching out as a customer or consumer, the following are relevant:
- Toll-Free Number: 1800‑419‑0066 (active generally between 9 AM–10 PM, daily)
- Customer Service Email: cs@bluestone.com
- Sales Inquiry Email: sales@bluestone.com
- Registered Office Address (also used for customer queries): No. 89/2, Munnekolala, Marathahalli Outer Ring Road, Bengaluru 560 037
Summary Table
| Contact Type | Details |
|---|---|
| Registered Office | Bengaluru – +91 80 4514 6904 |
| Corporate Office | Mumbai – +91 22 4515 2729; Contact: Jasmeet Kaur Saluja; investor.relations@bluestone.com |
| IPO Registrar | KFin Technologies – +91 40 6716 2222; M. Murali Krishna; bluestone.ipo@kfintech.com |
| Customer Support | Toll-Free: 1800‑419‑0066; Email: cs@bluestone.com; Sales: sales@bluestone.com; Address: Bengaluru office |
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