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BLUESTONE IPO

BlueStone Jewellery and Lifestyle Limited

IPO Doc

Start Date11-08-2025

Application Timing10am-5pm

Price Range₹492 - ₹517

Min Qty29

Min. Investment₹14268

Listing Date19-08-2025

Close Date13-08-2025

About BlueStone Jewellery and Lifestyle Limited

BlueStone Jewellery & Lifestyle Limited is a leading digital-first jewellery brand in India, offering a wide range of diamond, gold, platinum, and studded jewellery under its flagship brand, BlueStone. The company has built a strong omni-channel presence, operating 275 stores across 117 cities in 26 States and Union Territories, as of March 31, 2025, and serving over 12,600 PIN codes nationwide.

Its network comprises 200 company-owned stores and 75 franchisee outlets, with a total retail space exceeding 605,000 square feet. BlueStone’s product portfolio includes rings, earrings, necklaces, pendants, solitaires, bangles, bracelets, and chains across various price points, supported by 91 distinct design collections.

The brand differentiates itself through an innovative design approach, advanced manufacturing capabilities, vertically integrated operations, and in-house technology architecture to drive end-to-end business operations. It is a founder-led company backed by marquee investors and an experienced professional management team.

Why To Invest in BlueStone Jewellery and Lifestyle Limited

Market Leadership: Recognised as one of India’s top digital-first jewellery brands with strong omni-channel retail capabilities.

Wide Reach: Presence across Tier-I, Tier-II, and Tier-III cities with healthy unit economics.

Product Diversity: Extensive portfolio catering to different customer segments with 91 thematic jewellery collections.

Strong Backing: Founder-led organisation with support from marquee investors and an experienced management team.

Growth Potential: Revenue growth of 40% from FY24 to FY25 reflects strong business momentum, despite a decline in profitability.

Expansion Focus: Funds raised will be primarily used for working capital requirements, enabling further retail network expansion and operational efficiency.

Financial Table

Period Ended	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	3,532.28	2,453.49	1,255.49
Total Income	1,830.04	1,303.49	787.89
Profit After Tax	-221.84	-142.24	-167.24
EBITDA	73.16	53.05	-56.03
Reserves and Surplus	877.12	346.28	-81.06
Total Borrowing	728.62	430.43	228.42

Strengths And Risks

Leading Digital-First Jewellery Brand: BlueStone is one of India’s top digital-first jewellery companies, offering an omni-channel retail experience that blends online convenience with offline trust.

Proprietary Technology Infrastructure: The company has developed in-house technology systems that streamline end-to-end operations, from design and manufacturing to customer service.

Innovative Product and Design Approach: With 91 thematic jewellery collections, BlueStone delivers unique, trend-focused designs catering to diverse customer preferences.

Advanced Manufacturing and Integration: The business operates with vertically integrated manufacturing facilities, ensuring quality control, cost efficiency, and faster product launches.

Wide Pan-India Presence: A strong retail network spanning Tier-I, Tier-II, and Tier-III cities enables the brand to reach a broad consumer base with healthy unit economics.

Ongoing Financial Losses: The company reported a net loss of Rs. 221.84 crore in FY25, continuing its trend of negative profitability.

Dependence on Discretionary Spending: Jewellery demand is sensitive to changes in consumer spending patterns and overall economic conditions.

High Competitive Intensity: BlueStone faces competition from both organised jewellery chains and unorganised sector players, which could impact market share.

Moderate Leverage Position: With a debt-to-equity ratio of 0.80, the company carries a moderate level of debt, which could affect financial flexibility.

Negative Return Ratios: ROE, ROCE, and RoNW are negative as of FY25, indicating that returns on shareholders’ equity and capital employed are currently unprofitable.

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Company

Astha Credit & Securities Pvt Ltd NSE, BSE & MCX SEBI Reg No:

INZ000187932

Membership ID:

NSE - 12227 BSE-6844 MCX - 40000 NSDL-IN303420 CDSL-94500

CIN:

U65929MP2003PTC016241

SEBI Depository Participant Reg No:

IN-DP-611-2021

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ARN-35911

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Stock Brokers can accept securities as margin from clients only by way of pledge in the depository system w.e.f. September 1, 2020
Update your mobile number & email Id with your stock broker/depository participant and receive OTP directly from depository on your email id and/or mobile number to create pledge
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All investors are requested to take note that 6 KYC attributes i.e. Name, PAN, Address, Mobile Number, Email id and Income Range have been made mandatory. Investors availing custodian services will be additionally required to update the custodian details.
The last date to update KYC is on or before March 31, 2022.
Thereafter non-compliant trading accounts will be blocked for trading by the Exchange.
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The investors are hereby requested to comply with the regulatory guidelines issued by Exchanges and Depositories from time to time with regard to KYC compliance and related requirements.
We do proprietary trading

Client Bank Account Details:

Sr. No	Name of Bank Account	Bank Account Number	IFSC Code
1	ASTHA CREDIT AND SECURITIES P LTD - USCNBA A/c	00620340000150	HDFC0000062

*Investors are requested to note that Stock broker Astha Credit and Securities Private Limited is permitted to receive/pay money from/to investor through designated bank accounts only named as client bank accounts. Stock broker Astha Credit and Securities Private Limited is also required to disclose these client bank accounts to Stock Exchange. Hence, you are requested to use following client bank accounts only for the purpose of dealings in your trading account with us. The details of these client bank accounts are also displayed by Stock Exchanges on their website under “Know/ Locate your Stock Broker.

1. No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorize your bank to make payment in case of allotment. No worries for refund as the money remains in the investor's account. 2. KYC is a one-time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (Broker, DP, Mutual Fund, etc.), you need not undergo the same process again when you approach another intermediary.

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Prevent Unauthorized Transactions in your demat account --> Update your Mobile Number with your Depository Participant. Receive alerts on your Registered Mobile for all debit and other important transactions in your demat account directly from NSDL/CDSL on the same day......................issued in the interest of investors. We do Pro trading.

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BLUESTONE IPO

About BlueStone Jewellery and Lifestyle Limited

Why To Invest in BlueStone Jewellery and Lifestyle Limited