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InvestmentsIPOBluestone Jewellery & Lifestyle IPO

Bluestone Jewellery & Lifestyle IPO

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Open Date

11 Aug 2025

Close Date

13 Aug 2025

Min Investment

₹ 14,993

Lot Size

29

Issue Size

₹ 1540.65 Cr

Price Range

₹ 492 - ₹ 517

Subscribed

2.72 x
status

This IPO is now Live.

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IPO Timeline
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IPO Offer Start
11 Aug 2025
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IPO Offer Ends
13 Aug 2025
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Allotment Finalisation
14 Aug 2025
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Refund Initialisation
18 Aug 2025
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Non-Institutional Buyers (sHNI)
18 Aug 2025
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Listing of Shares
19 Aug 2025
IPO Subscription Details as on 3 Apr 2026, 10:28 AM
Qualified Instituational Buyers (QiB)
4.25 x
Retail
1.35 x
Total
2.72 x
Non-Institutional Buyer (bHNI)
0.68 x
Non-Institutional Buyer (sHNI)
0.33 x
Note: This information is provided for general guidance only. Dates may be subject to change.
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About the Company
The company is a digital-first omni-channel jewellery retailer in India offering an integrated customer experience across online and offline channels. It has a pan-India presence with 275 stores across 117 cities as of March 31, 2025. The company focuses on modern styles of everyday, casual-wear diamond, gold, platinum, gemstone and pearl jewellery targeting customers aged 25-45 who value unique designs. It has vertically integrated operations from design to manufacturing to retail. Key strengths include its omni-channel model, in-house technology stack, differentiated product design approach, advanced manufacturing capabilities, and pan-India store network. The company aims to become a lifecycle jeweller for customers by offering products across various occasions and price points.
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Founded In

2011

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CEO

Gaurav Singh Kushwaha

Financials of Bluestone Jewellery And Lifestyle IPO

Income Statement
Balance Sheet
Cash Flows
Total Income
Total Expenses
Total Profit
Key Performance IndicatorsMar 2023Mar 2024Mar 2025
Operating Revenue77,072.601,26,583.901,77,000.20
Other Income1,716.803,765.206,003.40
Total Income
78,789.401,30,349.101,83,003.60
Total Expenses
95,513.801,44,572.702,04,992.90
Profit Before Tax-16,724.40-14,223.60-22,183.70
Total Profit
-16,724.40-14,223.60-22,183.70

All figures are in lakhs (₹)

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Utilisation of Proceeds

All figures are in lakhs (₹)

PurposeAmount
To fund the working capital requirements of the Company75,000
To deploy any balance Net Proceeds towards general corporate purposes as approved by management, subject to such utilization not exceeding 25% of the gross proceeds of the Fresh Issue-
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  • Omni-Channel Jewellery Company: The company offers customers an omni-channel experience with an endeavour to ensure a smooth and consistent shopping experience across various touchpoints. The company's omni-channel approach caters to customers' preferences and convenience and aims to ensure that the purchase of jewellery is a personalized and intimate experience. The company is among the few pan-India players that have successfully developed a true omni-channel presence.
  • Differentiated Product Offerings: The company targets customers who place greater importance on design over metal value. The company has consistently introduced new jewellery collections and launched 6, 12 and 10 new jewellery collections in Fiscal 2025, 2024 and 2023, respectively. The company focuses on offering daily wear, other occasion-led jewellery and contemporary designs including diamond studded jewellery as part of its offerings. The company's share of sale of studded jewellery accounted for 67.88%, 67.44% and 68.31% of its revenue from operations in Fiscal 2025, 2024 and 2023, respectively.
  • In-House Manufacturing: The company's manufacturing capabilities allow it to manufacture a diverse range of jewellery products in-house, which in turn enables it to scale up production quickly to meet increased demand, reduce time taken to launch new designs, maintain quality control of products, maintain better control over supply chain and mitigate risk of supply chain disruptions. The company is the only Leading Jewellery Retailer in India with an in-house manufacturing set-up having more than 75% of the total jewellery produced in-house, leading to a higher control over the manufacturing process and faster time-to-market.
  • Technology Driven Operations: As a digitally native company, the company's technology capabilities are at the core of its omni-channel approach and allows it to offer a uniform customer experience, both online and in-store and increase customer engagement. The company provides tech features that are best-in-class among Leading Jewellery Retailers in India, as of March 31, 2025. The company's integrated technology stack across design, manufacturing, merchandizing and retail has been developed entirely in-house and connects the user interface with the back-end systems.
  • Pan-India Presence with Healthy Unit Economics: The company has a pan-India store presence which is an extension of its online channel and provides the ability to interact with customers in person, driving customer engagement and increasing brand visibility. As of March 31, 2025, the company had 275 stores across 117 cities in 26 States and Union Territories in India, including 200 Company Stores and 75 Franchisee Stores with an aggregate area of over 605,000 square feet. The company's stores have strong and robust unit economics with 75% of stores breaking even within three months of commencing operations.

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SEBI Stock Broker Registration No: INZ000006031 | Depository Participant (CDSL) ID: IN-DP-289-2016 | SEBI Research Analyst Registration No: INH000023357
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