The latest news about BlueStone, the omnichannel jewelry retailer based in Bengaluru, India, centers around its upcoming Initial Public Offering (IPO) and financial performance:
IPO Developments : BlueStone Jewellery and Lifestyle has reduced its IPO size to Rs 820 crore, with the issue set to launch on August 11, 2025, and close on August 13, 2025. The IPO aims for a valuation of approximately $888 million (Rs 7,800 crore). It includes a fresh issue of shares worth Rs 1,000 crore and an offer for sale (OFS) of 24 million equity shares by selling shareholders. The funds will primarily support working capital needs. The company received approval from the Securities and Exchange Board of India (SEBI) for the IPO, signaling readiness to proceed with the listing.
Financial Performance : In FY24, BlueStone reported a 64% increase in operating revenue, reaching Rs 1,265.8 crore, while narrowing its losses by 15% to Rs 142.2 crore. Total expenses rose significantly, driven by higher procurement and marketing costs. The company’s valuation doubled to Rs 8,100 crore following a Rs 900 crore pre-IPO funding round in August 2024.
Funding and Valuation : BlueStone secured Rs 40 crore in debt funding led by BlackSoil in May 2025. The company is poised to become India’s next unicorn, with secondary deals valuing it at Rs 10,500 crore. Investors like Accel, Saama Capital, Kalaari Capital, and Sunil Kant Munjal are expected to see significant returns from the IPO.
Strategic Moves : BlueStone appointed Alia Bhatt as its first brand ambassador to feature in a campaign ahead of the festive season. The company also expanded its Employee Stock Ownership Plan (ESOP) pool, granting COO Sudeep Nagar $11 million worth of stock options, and elevated him to co-founder status. Additionally, BlueStone launched a new manufacturing unit in Jaipur to enhance its production capabilities.
Market Position : Operating over 200 stores with 95 unique collections, BlueStone is a leading player in India’s jewelry market. It competes with CaratLane, Melorra, and GIVA, capitalizing on the growing trend of online jewelry purchases and India’s booming IPO market.
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