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IPO Analysis > bluestone-jewellery-ipo-mainboard

BlueStone Jewellery IPO Logo 

Bluestone Jewellery IPO: A Big Change Or A Risky Bet? 

India’s jewellery market grew 13-15% since 2021 and may touch ₹11-12 trillion by 2029, growing 12-14% yearly.

Bluestone Jewellery marks an important step in its expansion journey by going public.

The Bluestone Jewellery IPO manager is IIFL Capital, Kotak Mahindra, and Axis Capital, while the registrar is KFin Technologies. Click here to know your allotment status.

See the Bluestone Jewellery IPO RHP for more details. 

Note: Half of Bluestone Jewellery IPO’s shares will be unlocked 30 days after allotment, while the rest will be free from lock-in restrictions after 90 days. 

Bluestone Jewellery IPO Details: Company Profile


Particulars

Details 

Incorporated

2011

Registered Office 

Bangalore

Promoter

Gaurav Singh Kushwaha 

Products

Gold, diamond, and platinum jewellery 

Number of Stores 

275

Competitors 

Kalyan Jewellers, Senco Gold, Titan, and PC Jeweller 


Exploring the Bluestone Jewellery IPO Details

Check out the details of the Bluestone IPO, like IPO date and price.

  • Bluestone Jewellery IPO Date

Event Description

Date

IPO opens for subscription

11 Aug 2025

IPO closes for subscription

13 Aug 2025

UPI payment authorisation deadline

13 Aug 2025 (5 PM)

Finalisation of allotment

14 Aug 2025

Refunds processed

18 Aug 2025

Shares in Demat accounts

18 Aug 2025

Shares on the stock exchange

19 Aug 2025

Last date for UPI mandate validity

28 Aug 2025

Lock-in end for 50% of anchor investor holdings

13 Sep 2025

Lock-in end for remaining anchor investor holdings

12 Nov 2025

Check out the list of the top demat account providers to participate in the Bluestone IPO.

  • Bluestone Jewellery IPO size

Particulars

Shares

Aggregate Value

Fresh Issue 

Not Disclosed 

820 crores

Offer for Sale

13,939,063

720.65 crores

Overall Issue 

Not Disclosed

1540.65 crores


  • Objectives of the offer 

Let’s see how the funds from the IPO will be used for business expansion, strengthening brand presence, and general corporate purposes.

Particulars

Amount (in million)

To finance working capital needs

7,500.00

For general corporate use

Not Disclosed 

Total net proceeds

Not Disclosed


  • Other takeaways from the Bluestone Jewellery IPO Price

Find out the Bluestone Jewellery share price.

Particulars

Description

Face value of each share

₹1

Price Range

₹492 – ₹517

Listed At 

BSE NSE 


  • Categorisation of different investors 

Particulars

QIBs

Non-Institutional Investors

Retail Individual Investors

Equity Shares Available

Not Disclosed 

Less allocation to QIBs & RIIs

Shares of ₹1 each or less allocation to QIBs & NIIs

Minimum Bid

Bid amount over ₹200,000

(i) One-third category: amount over ₹200,000 

(ii) Two-thirds category: amount over ₹1,000,000

Not Disclosed 

Maximum Bid

Not Disclosed 

Within offer limits (excluding QIB category)

Up to ₹200,000


Bluestone Jewellery IPO details: Key Financials 

Over the last few years, Bluestone Jewellery has shown steady revenue growth and improved profitability. Check it out here. 

Particulars

2025

2024

2023

Equity Share Capital

296.56

278.95

92.29

Non-Controlling Interest (NCI)

39.66

-

-

Total Equity

9,107.40

3,741.72

-718.26

Revenue from Operations

17,700.02

12,658.39

7,707.26

Earnings – Basic (in ₹)

-79.74

-78.36

-92.14

Earnings – Diluted (in ₹)

-79.74

-78.36

-92.14

NAV (in ₹)

257.35

206.13

-39.57

Total Borrowings

7,286.18

4,304.26

2,284.18


Metrics of Bluestone Jewellery IPO 


Particulars

Fiscal 2025

Fiscal 2024

Fiscal 2023

Net Revenue

17,700.02

12,658.39

7,707.26

Net Revenue (%)

39.83

64.24

67.06

Gross Margin (%)

37.94

40.41

31.87

EBITDA Margin (%)

4.13

4.19

-7.27

Debt/Equity Ratio

0.8

1.15

NA

Inventory Turnover Ratio

1.34

1.83

2.75

ROCE (%)

-3.67

-3.39

-31.16


Strengths and risks

Bluestone Jewellery benefits and risks are as follows.

Strengths

  • Bluestone Jewellery makes its own jewellery with advanced, in-house manufacturing.

  • Their designs of jewellery stand out in the market.

  • Their strong online and offline presence across India helps them beat the competition.

Risks

  • Most of their sales still come from physical stores.

  • Prices of gold and diamonds can change a lot and affect demand.

  • They have not given dividends before.

IPO Closing Soon: Is Bluestone Jewellery IPO Worth the Rush?

The Bluestone Jewellery GMP is at ₹16 on 11 Aug 2025. But investors must check the company’s latest GMP updates, subscription status, and allotment timelines before the closing date.

FAQs

1. What is the Bluestone Jewellery GMP?

The Bluestone Jewellery GMP is currently around ₹16. This premium changes daily based on demand and market sentiment. So, you must get GMP updates regularly. 

2. What is the Bluestone Jewellery IPO release date? 

The Bluestone Jewellery IPO release date is set for 11 Aug 2025, with applications opening for a few days before closing on 13 Aug 2025. Investors can apply through supported brokers and UPI apps.

3. How is the Bluestone Jewellery IPO review?

Analysts say that investors should look for the strengths in the company and their growth strategy, while also noticing market competition. Also, one must check its financials, subscription status, and study the company's history to decide on whether to invest or not. 

4. What is the Bluestone Jewellery IPO price?

The Bluestone Jewellery IPO price has been fixed at ₹492 – ₹517 per share for investors. This price band is as per the company's valuations and market conditions.

5. Do I need a Demat account to invest in the Bluestone Jewellery IPO?

A Demat account is essential to apply for the Bluestone Jewellery IPO. Without it, you cannot hold the shares electronically. Opening one with a SEBI-registered broker will be needed if you want to participate.
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