BlueStone Jewellery to launch IPO on August 11, seeks Rs 7,800-cr valuation

Accel-, Sunil Kant Munjal- and Kalaari-backed BlueStone to launch IPO from August 11-13 at Rs 7,800-cr valuation

Leading omni-channel jewellery firm BlueStone Jewellery & Lifestyle Limited, which operates under the flagship brand 'BlueStone', is all set to launch its initial public offer next week via a combination of primary and secondary issue of shares at a targeted valuation of around $888 million or Rs 7,800 crore, multiple industry sources in the know told Moneycontrol.

August 8 has been reserved for the anchor book portion with the issue opening for public subscription between August 11 and August 13, according to the firm's red herring prospectus (RHP). The fresh issue size is Rs 820 crore while the offer for sale size is up to 13,939,063 equity shares, the RHP stated.

An email query has been sent to BlueStone and Moneycontrol could not elicit an immediate comment. This article will be updated as soon as we hear from the firm.

Accel Partners, Saama Capital, Kalaari Capital, IvyCap Ventures, IronPillar Fund, Sunil Kant Munjal (and other partners of Hero Enterprise Partner Ventures) are the selling shareholders. The IPO proceeds will be utilised for working capital requirements and general corporate purposes, the firm said.

BlueStone's other investors include Info Edge Ventures, Peak XV, Steadview, Prosus and Think Investments who are not diluting stake as part of the IPO.

Axis Capital, Kotak Mahindra Capital and IIFL Capital are the investment banks working on the issue as per the RHP. Trilegal is the legal counsel to the company.

Accel, Sunil Kant Munjal and Kalaari Capital are the three biggest external shareholders with stakes of 11.68 percent, 5.61 percent and 5.12 percent respectively.

IIT Delhi alumnus and ex-Amazon executive Gaurav Singh Kushwaha, the promoter, holds 17.7 percent stake.

BlueStone offers contemporary lifestyle diamond, gold, platinum and studded jewellery and retails its products through its website and its mobile application available on iOS and Google Play Store, in addition to its pan-India network of stores (225 outlets across 117 cities as of March 2025)

The top five listed companies by market cap in the diamonds and jewellery segment include Titan Company, Kalyan Jewellers, IGIL, PC Jewellers and PN Gadgil.

In related listings in the sector, Chennai-based Lalithaa Jewellery Mart filed for a Rs 1,700 crore IPO in June. Recently, Shanti Gold International made its market debut at a 15 percent premium over its issue price.