BlueStone Jewellery and Lifestyle shares fell 1.48% to trade at ₹793.10 per share on Friday, following the latest stake sale by major investors. According to The Hindu BusinessLine, venture capital firm Accel India and 360 ONE Group sold a combined 61.98 lakh shares representing 4.07% stake in the omnichannel jewellery retailer for ₹513 crore through separate block deals on the BSE. The transactions were executed at an average price of ₹827.60 per share, with Accel India selling 28 lakh shares (1.84% stake) and 360 ONE Group offloading 33.98 lakh shares (2.23% stake). The stock's decline marks the second round of stake sales by these investors this year, following a ₹243 crore stake sale in June by Accel, 360 ONE and IvyCap Ventures.
BlueStone reported strong financial results for Q1 FY27, with consolidated net profit of ₹5.96 crore compared to a net loss of ₹34.74 crore in the same quarter last year. As reported by The Hindu BusinessLine, total income rose 49% to ₹751.81 crore, while expenses increased to ₹744.82 crore from ₹538.45 crore. The company recorded same-store sales growth (SSSG) of 39% during the quarter, surpassing Q4FY26 growth despite increased customs duty on gold from 6% to 15%. The consumer base expanded 21% year-on-year, with repeat customers contributing to higher average order values, while growth was supported by strong SSSG across customer cohorts.
The latest stake sale attracted a mix of domestic and overseas institutional investors who acquired an equal number of shares at the same price. According to The Hindu BusinessLine, mutual funds managed by Mirae Asset, Nippon India, and Bandhan, along with Bajaj Life Insurance participated in the transaction. SBI Life Insurance bought over 9.5 lakh shares (0.6% stake) for ₹79 crore, raising its stake to 5.02% from 4.4%. Foreign investors including Goldman Sachs, Citigroup Global Markets Singapore and sovereign wealth fund Kuwait Investment Authority also participated in the transaction. With the latest transaction, Accel's holding through its affiliates declined to 8.71% from 10.55%.
Despite the recent decline, BlueStone has delivered exceptional returns over the longer term, gaining 79.31% on a year-to-date basis and rising 43.77% over the past one year. As reported by Live Mint, the stock has rallied nearly 80% so far this year, demonstrating strong investor confidence in the company's growth trajectory. The current selloff appears to be driven by institutional investors reducing their holdings, with the stock hitting its 52-week low despite the company's strong operational performance and positive earnings trajectory. Founded in 2011 by Gaurav Singh Kushwaha and Vidya Nataraj, BlueStone offers more than 8,000 designs across rings, pendants, earrings and competes with Titan's CaratLane, GIVA and other jewellery brands.
