Early investors Accel India and 360 ONE Group have offloaded a 4.07% stake in BlueStone Jewellery and Lifestyle for ₹513 crore. The shares were bought by institutional investors including SBI Life Insurance and the Kuwait Investment Authority. This sale comes as the company reports its first quarterly profit and strong revenue growth while managing rapid retail expansion.
Accel India and 360 ONE Group have sold a 4.07% stake in the omnichannel jewellery retailer BlueStone Jewellery and Lifestyle through block deals. The transaction, valued at ₹513 crore, involved the sale of approximately 61.98 lakh shares at an average price of ₹827.60 per share. This divestment marks a notable liquidity event for the Bengaluru-based company, which has been aggressively scaling its retail footprint to compete with established sector giants like Titan, which operates the CaratLane brand.
Institutional Interest Remains Strong
The shares sold by the private equity investors were absorbed by a diverse group of domestic and foreign institutional buyers. SBI Life Insurance increased its position in the firm, acquiring a 0.6% stake and bringing its total holding to 5.02%. Other domestic participants in the transaction included Nippon India, Bandhan Mutual Fund, and Mirae Asset. International interest was also significant, with financial institutions such as Goldman Sachs, Citigroup Global Markets Singapore, and the Kuwait Investment Authority marking their presence on the buyer side. The entry of these institutional players suggests continued interest in the retailer's growth model.
Operational Turnaround and Financial Context
The transaction coincides with a period of improved financial metrics for BlueStone. In the quarter ending June 2026, the company recorded a consolidated net profit of ₹5.96 crore, a significant improvement from the net loss of ₹34.74 crore reported in the same period last year. Revenue growth has also been robust, with the company posting a 49% increase to ₹751.81 crore.
However, the company faces the challenge of managing rising overheads as it expands. Expenses for the June quarter climbed to ₹744.82 crore, largely driven by the high costs associated with building its omnichannel distribution network. Sustaining profitability while balancing these expansion-related costs will be an important metric for the company's financial health. This block deal is the second major investor exit for BlueStone in 2026, following a similar transaction in June involving IvyCap Ventures, which was valued at ₹243 crore.
As the company continues its expansion, investors will monitor its ability to maintain profit margins against high operating expenses. The future performance of the retailer will depend on its ability to scale revenue while keeping its overheads under control, especially in a competitive market where large players are also aggressively expanding their reach.