Institutional Investors Sell BlueStone Shares Worth ₹513 Crore

Institutional investors Accel and 360 ONE have sold a total of 6.198 million shares of Indian jewellery retailer BlueStone through multiple block deals. The combined value of these transactions amounted to approximately ₹513 crore.

Accel India III (Mauritius) divested 2.8 million shares, generating around ₹231.7 crore, while four funds managed by 360 ONE sold nearly 3.4 million shares collectively for approximately ₹281.3 crore. Each share was traded at ₹827.60, a 3% premium over the stock's closing price on Thursday.

The shares were acquired by domestic mutual funds and insurance companies. Mirae Asset Mutual Fund emerged as the largest buyer, purchasing 2.08 million shares. Other significant buyers included Bajaj Life Insurance, SBI Life Insurance, and Nippon India Mutual Fund, each acquiring 9.5 million shares. International investors Kuwait Investment Authority, Goldman Sachs, and Citigroup Global Markets Singapore also increased their stakes.

Approximately 4% of BlueStone's equity changed hands in these deals. Accel, which held about a 10.1% stake as of June 30, has now sold 17.4% of its holdings. 360 ONE held around a 3.8% stake at the end of the same quarter.

This marks the second time this year that these investors have reduced their holdings in BlueStone. In June, Accel, 360 ONE, and IvyCapVentures offloaded 4.64 million shares for ₹242.8 crore in open-market transactions.

BlueStone, founded in 2011, competes in the jewellery market with players like CaratLane and GIVA. The company reported a profit of ₹6 crore in the first quarter of FY27, a significant improvement from a loss of ₹34.8 crore in the year-ago period. Revenue surged 50% year-on-year to ₹736.9 crore. BlueStone's stock closed Thursday's trading session down 5.63% at ₹805.06 on the BSE.