Bluestone Jewellery is planning to raise funds by launching an IPO. On December 11, Bluestone Jewellery filed a draft paper with SEBI regarding the launching of an IPO. Accel, Peak XV Partners, and Sunil Kant Munjal are the supporters of Bluestone Jewellery and Lifestyle, who took a decision to raise funds worth ₹1,000 crore by launching an IPO. This IPO will be the combination of a fresh issue of ₹1,000 crore and an offer-for-sale of 2.39 crore equity shares.
Accel India, Saama Capital, Kalaari Capital Partners, IvyCap Ventures Trust, Iron Pillar Fund, and Sunil Kant Munjal, along with other partners from Hero Enterprise Partner Ventures will sell their shareholder ship in the form of an offer-for-sale.
Saama Capital II, Kalaari Capital Partners II, Kalaari Capital Partners Opportunity Fund, and IvyCap Ventures Trust – Fund 1 are deciding to completely sell off all their shares in Bluestone Jewellery through offer-for-sale means exiting the company being no longer part of the Bluestone company.
The promoters of Bluestone Jewellery and Lifestyle own 18.47% shares of the company. Gaurav Singh Kushawa, one of the promoters of the company owns 17.81% shares of the company. While the remaining 81.53% of shares are owned by other public shareholders. One the biggest shareholders Accel India holds 17.12% of shares being one of the largest share-owning companies in Bluestone jewelry.
Incorporated in 2011, Bluestone Jewellery is one of India’s leading companies to offer high-quality, imported jewelry. They offer plain gold, diamond, or gemstone jewelry with more than 8000 designs to choose from. They use cutting-edge innovation and the latest technology to create the best quality jewelry delivered to your doorstep. They also provide a service where the customer can choose and customize the jewelry design as per their requirements.
Bluestone Jewellery stated that the funds raised through an IPO will be used for working capital requirements, while the remaining funds will be used for general corporate purposes.
Titan Company, Kalyan Jewellers India, Senco Gold, and Thangamayil Jewellery are some of the competitors of Bluestone Jewellery. Though they have a larger revenue than Bluestone Jewelry.
In fiscal year 2024, Bluestone Jewelry experienced a significant growth in its revenue, which increased by 64.24% to reach ₹1,265.84 crore. For the first half of 2024, the company reported a revenue of ₹348.24 crore.
Axis Capital, IIFL Capital, and Kotak Mahindra Capital Company are the selected merchant bankers appointed to handle the public issue.
Bluestone Jewellery IPO Prospectus:
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | To be Updated Soon |
Bluestone Jewellery Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax |
| 2022 | ₹4,766.71 | ₹17,379.79 | ₹1,268.41 |
| 2023 | ₹7,878.94 | ₹9,551.38 | ₹167.24 |
| 2024 | ₹13,034.91 | ₹14,457.27 | ₹142.24 |
| June 2024 | ₹3,591.91 | ₹4,184.12 | ₹59.22 |
Bluestone Jewellery IPO Valuation – FY2024
Bluestone Jewellery IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | –₹78.36 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | –38.01% |
| Net Asset Value (NAV): | ₹206.13 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Titan Company Limited | 39.40 | 88.27 | 37.22 | 105.85 | 51,084 Cr. |
| Kalyan Jewellers India Limited | 5.80 | 130.86 | 14.24 | 40.66 | 18,548.29 Cr. |
| Senco Gold Limited | 24.06 | 48.62 | 13.26 | 181.48 | 5,241.44 Cr. |
| Thangamayil Jewellery Limited | 44.91 | 47.46 | 24.99 | 179.74 | 3,826.78 Cr. |
| PC Jeweller Limited | (13.52) | NA | (21.47) | 62.99 | 605.40 Cr. |
Objects of the Issue
- Funding our working capital requirements; and
- General corporate purposes.
IPO Lead Managers aka Merchant Bankers
- Axis Capital Limited
- IIFL Securities Limited
- Kotak Mahindra Capital Company Limited
