IvyCap, Accel, 360 ONE Sell BlueStone Shares Worth ₹243 Cr
Infographic: IvyCap, Accel, 360 ONE Offload BlueStone Shares Worth ₹243 Cr
Key Highlights
IvyCap Ventures, Accel, and 360 ONE offloaded BlueStone shares worth ₹243 Cr, capitalizing on the jewellery brand’s recent stock surge. Nippon India Mutual Fund acquired a significant portion.
Investors Divest BlueStone Stakes
Investors IvyCap Ventures, Accel, and 360 ONE have collectively offloaded 46.4 Lakh shares of omnichannel jewellery brand BlueStone, valued at ₹242.8 Cr, through a series of open-market transactions. This significant divestment signals a move by these early backers to capitalize on the recent appreciation in BlueStone’s stock value.
As per data from the , IvyCap Ventures executed the largest sale, divesting 26.04 Lakh shares at an average price of ₹524.97 apiece, which yielded ₹136.7 Cr. Concurrently, asset management firm 360 ONE, operating through its 360 One Special Opportunities Fund, sold 10.6 Lakh shares, generating ₹55.1 Cr from the transaction.
Early investor Accel also participated in the share sale, offloading 9.8 Lakh shares at ₹522.08 each, accumulating ₹51 Cr. A substantial portion of these shares, specifically 25 Lakh, was acquired by Nippon India Mutual Fund at ₹522.05 per share, totaling ₹130.5 Cr in investment.
The average selling price for the three investors stood at ₹523.08 per share. This price represented a marginal discount of 0.9% when compared to BlueStone’s last closing price on the BSE from the previous Tuesday, indicating a strategic exit point for the sellers.
Financial Performance Fuels Optimism
These block deals occur amidst a notable uptick in BlueStone’s shares, which have appreciated by over 6.7% in the past week and more than 12.1% on a year-to-date (YTD) basis. The sustained upward trend has provided an opportune moment for investors to book profits.
The company’s robust financial performance underpins this positive market sentiment. BlueStone reported a net profit of ₹31.2 Cr in Q4 FY26, a significant turnaround from a net loss of ₹51.3 Cr recorded in the corresponding quarter of the previous year. Furthermore, its operating revenue experienced a substantial 48% year-over-year increase, reaching ₹681.5 Cr during the quarter under review.
Ambitious Growth Trajectory Ahead
Just recently, BlueStone articulated ambitious growth targets, aiming to achieve an annual revenue of ₹12,000 Cr by FY30. This projection represents nearly a five-fold increase from its total revenue in FY26 and is primarily predicated on an aggressive store expansion strategy. The company also targets an improvement in its Pre-IndAS margin to 14.7% by FY30, up from 7.4% in FY26.
Consequently, leading brokerages maintain a bullish outlook on the jewellery brand. JM Financial reiterated its ‘Buy’ rating on BlueStone’s stock, setting a target price of ₹650. The firm cited growing consumer demand and the company’s technology-driven omnichannel model as key drivers. Nuvama also underscored the expanding store network and enhancing unit economics as crucial factors for BlueStone’s future growth trajectory.
Following these transactions, shares of BlueStone concluded yesterday’s trading session on the BSE 3.64% lower, settling at ₹528.35.