BlueStone Jewellery IPO & Lifestyle Limited, Bengaluru-based and digitally native, has announced its highly anticipated IPO—open for subscription from August 11 to August 13, 2025—with a price band of ₹492 to ₹517 per share. The ₹1,540.65 crore offering comprises an ₹820 crore fresh issue and a ₹720.65 crore offer-for-sale, led by Axis Capital, with Kfin Technologies as registrar. The company is valued at approximately ₹7,800–₹7,820 crore post-issue. BlueStone operates as India’s second-largest digital-first omni-channel jewellery brand, offering diamond, gold, and platinum products through a blend of online platforms and a retail presence of 275 stores across 117 cities. In FY25, revenue surged to ₹1,770 crore, climbing from ₹1,265 crore in FY24, while EBITDA turned positive at ₹73 crore, though the company remains net loss-making at ₹222 crore for FY25. The IPO proceeds are earmarked for working capital and general corporate purposes. Boasting strong in-house manufacturing, tech-enabled operations, and seamless omnichannel engagement, BlueStone stands out—but investors should weigh the continued losses and operational execution risks.