IvyCap, Accel & 360 ONE Offload BlueStone Shares Worth ₹243 Cr

Investors IvyCapVentures, Accel and 360 ONE yesterday offloaded 46.4 Lakh shares of omnichannel jewellery brand BlueStone via multiple open-market transactions for ₹242.8 Cr.

As per BSE data, IvyCap Ventures sold the biggest chunk of 26.04 Lakh shares at ₹524.97 apiece to bag ₹136.7 Cr, while asset management firm 360 ONE, via its 360 One Special Opportunities Fund, offloaded 10.6 Lakhs shares for ₹55.1 Cr. 

Early backer Accel also dumped 9.8 Lakh shares at ₹522.08 apiece to rake in ₹51 Cr. 

Of the shares that flooded the market, 25 Lakh were lapped up by Nippon India Mutual Fund at ₹522.05 each for a total of ₹130.5 Cr.

The three investors sold the shares at an average of ₹523.08 apiece, a discount of 0.9% to the stock’s last closing price on the BSE on Tuesday.

The block deals come as investors look to book profits amid an uptick in BlueStone shares. The stock has risen more than 6.7% in the past one week, and is up more than 12.1% on a year-to-date (YTD) basis. 

The upward swing has come on the back of healthy financial performance. The omnichannel jewellery brand posted a net profit of ₹31.2 Cr in Q4 FY26 as against a net loss of ₹51.3 Cr in the year ago quarter. Meanwhile, operating revenue zoomed 48% YoY to ₹681.5 Cr in the quarter under review. 

Just a few days ago, BlueStone claimed that it was on track to achieve an annual revenue of ₹12,000 Cr by FY30, almost 5X of its FY26 total revenue, on the back of aggressive store expansion. The company is also targeting a Pre-IndAS EBITDA margin of 14.7% by FY30, up from 7.4% in FY26.

As a result, brokerages also continue to be bullish on the company. JM Financial maintained a ‘Buy’ rating on the stock with a target price of ₹650, citing growing consumer demand and the company’s technology-driven omnichannel model. Nuvama also underlined the expanding store network and improving unit economics as key drivers of BlueStone’s future growth.

Shares of BlueStone closed yesterday’s trading session 3.64% lower at ₹528.35 on the BSE.

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