Bluestone Jewellery & Lifestyle Ltd IPO
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Bluestone Jewellery & Lifestyle Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 298 L | ₹ 139.39 L | ₹ 29.8 L | ₹ 247.62 L | BSE | ₹ 1540.65 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 11 Aug, 25 | 13 Aug, 25 | 29 | ₹ 14,268 | Book Building | 19 Aug, 25 |
Bluestone Jewellery & Lifestyle Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Diamond Cutting |
| Sub Sector | Jewellery |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 1.7x | 22349848 | 37961783 |
| NII | 0.57x | 4469970 | 2533353 |
| Retail | 1.38x | 2979980 | 4127164 |
| Employee | 0x | 0 | 0 |
| Total | 1.5x | 29799798 | 44622300 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Bluestone Jewellery & Lifestyle Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | -46.97 | -105.55 | -1,239.24 |
| EBITDA | 48.30 | -43.86 | -1,217.17 |
| PAT | -142.24 | -167.24 | -1,268.41 |
| Total Assets | 1,337.36 | 720.99 | 300.59 |
| Share Capital | 28.59 | 9.93 | 1,829.04 |
| Total Borrowings | 667.00 | 293.37 | 49.96 |
| Operating Activities (Net Cash) | -46.97 | -105.55 | -1,246.34 |
| Investing Activities (Net Cash) | -16.66 | -0.80 | -0.29 |
| Financing Activities (Net Cash) | 667.00 | 293.37 | 49.96 |
| Net Cashflow | 106.50 | 258.96 | 101.16 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Bluestone Jewellery & Lifestyle Ltd
Our Company was originally incorporated as New Age E Commerce Services Private Limited, a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation issued by the Registrar of Companies, Karnataka (RoC) on July 22, 2011. Subsequently, the name of our Company was changed to BlueStone Jewellery and Lifestyle Private Limited, pursuant to a fresh certificate of incorporation issued by the RoC on November 25, 2013. Thereafter, our Company was converted to a public limited company and the name of our Company was changed to `BlueStone Jewellery and Lifestyle Limited' pursuant to a fresh certificate of incorporation dated November 8, 2024.
The Indian jewellery market has grown a CAGR of 13% - 15% between 2021 to 2024 and currently stands at approximately Rs. 6,340 billion and is projected to reach Rs. 11,000 billion - Rs. 12,000 billion by 2029, growing at a CAGR of 12% - 14% between 2024 and 2029. Organised retail drove approximately 37% of the Indian jewellery market in 2024. The organised segment's contribution is projected to grow to 43% - 47% of the overall jewellery market, growing at a CAGR of 16% - 18% till 2029.
We offer contemporary lifestyle diamond, gold, platinum and studded jewellery under our flagship brand, BlueStone. We are an omni-channel jewellery brand and retail our products through our website www.bluestone.com and our mobile application available on iOS and Google Play Store, in addition to our pan-India network of stores. The BlueStone brand was launched in 2011 and as of March 31, 2025, we operated 275 stores in 117 cities, including Franchise Stores, across 26 States and Union Territories in India. We focus on designing jewellery for women, men and couples between the ages of 25 to 45 years who have a tendency to discover brands through social media or online channels. We generate revenues from the sale of our jewellery products.
Peer Comparison:
- Bluestone Jewellery and Lifestyle Limited
- Titan Company Limited
- Kalyan Jewellers India Limited
- Senco Gold Limited
- Thangamayil Jewellery Ltd
- PC Jeweller Limited
Bluestone Jewellery & Lifestyle Ltd IPO Key Points
Strengths
- Second largest digital-first jewellery brands in India in terms of revenues in Fiscal 2024 offering an omnichannel retail experience across website, mobile application and stores;
- In-house technology architecture driving end-to-end business operations from design, online rendering, merchandizing, manufacturing and retail.
- Differentiated approach to product and design catering to women, men and couples between the ages of 25 to 45 with an extensive range and variety of products.
- Advanced manufacturing capabilities across three facilities with vertically integrated operations covering raw material procurement, design, production and marketing and sales.
- Pan-India presence across tier-I, tier-II and tier-III cities operating through a combination of Company Stores and Franchisee stores with healthy unit economics.
Risk
- The company has not generated any profits since inception. The company has experienced loss of Rs. 2,218.37 million, Rs. 1,422.36 million and Rs. 1,672.44 million in Fiscal 2025, 2024 and 2023, respectively and had negative total equity of Rs. 718.26 million in Fiscal 2023. Any loss or negative total equity in future periods could adversely affect its operations, financial conditions, and the trading price of the company Equity Shares.
- There have been certain instances of non-compliances, including with respect to certain secretarial/ regulatory filings for corporate actions taken by the Company in the past. Consequently, its may be subject to regulatory actions and penalties for any such non-compliance and the company business, financial condition and reputation may be adversely affected.
- Its Repeat Revenue Ratio (defined as revenue generated by sales to repeat customers, i.e., customers who place an order more than once at any time previously) was 44.61%, 39.83% and 34.67% in Fiscal 2025, 2024 and 2023, respectively. If the company fails to convert existing customers into repeat customers or acquire new customers or fails to do so in a cost-effective manner, its may not be able to increase revenue or maintain profitability. Further, if the company fails maintain Average Order Value levels, which was Rs. 47,671.26, Rs. 41,204.71 and Rs. 32,038.38 in Fiscal 2025, 2024 and 2023, respectively, its may not be able to sustain the company revenue base and margins, which would have a material adverse effect on its business and results of operations.
Strategy
- Expand our Omni-Channel Presence.
- Focus on Becoming a Lifecycle Jeweller.
- Invest in Brand Building Initiatives.
- Continue to Leverage Technology.
- Scale our Old Gold Exchange Program.
- Second largest digital-first jewellery brands in India in terms of revenues in Fiscal 2024 offering an omnichannel retail experience across website, mobile application and stores;
- In-house technology architecture driving end-to-end business operations from design, online rendering, merchandizing, manufacturing and retail.
- Differentiated approach to product and design catering to women, men and couples between the ages of 25 to 45 with an extensive range and variety of products.
- Advanced manufacturing capabilities across three facilities with vertically integrated operations covering raw material procurement, design, production and marketing and sales.
- Pan-India presence across tier-I, tier-II and tier-III cities operating through a combination of Company Stores and Franchisee stores with healthy unit economics.
How To Apply for Bluestone Jewellery & Lifestyle Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.
