BlueStone Stake Sale: Accel and 360 ONE Offload 4.07% Stake for Rs 513 Crore

BlueStone has seen a recent stake sale where venture capital firm Accel and investment firm 360 ONE have offloaded a total of 4.07% of their holdings for approximately Rs 513 crore through bulk and block deals. Data from the BSE indicates that Accel India III (Mauritius) sold 28 lakh shares, equating to a 1.84% stake, while funds from 360 ONE divested around 33.98 lakh shares, making up a 2.23% shareholding. The shares were transacted at Rs 827.60 each, culminating in a deal valued at around Rs 513 crore.

Institutional Investor Engagement

As per stock exchange reports, both domestic and international institutional investors participated in this share acquisition. Mirae Asset Mutual Fund was a notable buyer, purchasing around 20.8 lakh shares. Nippon India Mutual Fund, SBI Life Insurance, and Bajaj Life Insurance each acquired approximately 9.5 lakh shares. Additional stakeholders included Bandhan Mutual Fund, Goldman Sachs, Citigroup Global Markets Singapore, and Kuwait Investment Authority.

Changes in Holdings

Post-transaction, Accel’s affiliate holdings reduced from 10.55% to 8.71%. In contrast, SBI Life’s ownership increased from 4.4% to 5.02% after acquiring over 9.5 lakh shares for around Rs 79 crore. This marks the second significant stake sale for Accel and 360 ONE in BlueStone within this year. Earlier in June, they, along with IvyCap Ventures, sold shares worth around Rs 243 crore through a series of open-market transactions.

BlueStone’s Financial Progress

The timing of this stake sale aligns with BlueStone’s recent enhancement in profitability. The jewellery retailer has reported its third consecutive quarter of profits, attributed to a substantial improvement in financial metrics. In Q1 FY27, BlueStone posted a consolidated net profit of Rs 5.96 crore, in stark contrast to a net loss of Rs 34.74 crore in the same quarter the previous year. Moreover, its total income surged 49% year-on-year, reaching Rs 751.81 crore during this quarter. Following the announcement of these results, the company’s shares hit the 20% upper circuit limit.

About BlueStone

Established in 2011 by Gaurav Singh Kushwaha and Vidya Nataraj, BlueStone conducts an omnichannel jewellery business, showcasing over 8,000 designs across categories such as rings, pendants, and earrings. As of June 2026, the company operated 352 stores spanning 139 cities. Currently, BlueStone’s shares closed at Rs 809.30 on September 24, leading to a market capitalisation of approximately Rs 12,364 crore ($1.3 billion).