In a major share offloading transaction, institutional investors Accel and 360 ONE sold a combined 61.98 lakh shares of BlueStone, India’s leading omnichannel jewellery retailer, for ₹513 crore through block and bulk deals, attracting participation from mutual funds, insurance companies, and international investors.
- Accel sold 28 lakh shares worth ₹232 crore at a 3% premium
- 360 ONE sold nearly 34 lakh shares raising ₹281 crore
- Mutual funds and international investors were key buyers
What happened
Institutional investors Accel and 360 ONE have offloaded a total of 61.98 lakh shares in BlueStone via multiple block and bulk deals on the Bombay Stock Exchange. The shares were transacted at ₹827.60 each, a 3% premium to the closing price, realizing a combined amount of approximately ₹513 crore. Accel India III sold 28 lakh shares while four funds managed by 360 ONE sold nearly 34 lakh shares. This sale corresponded to about 4% of BlueStone’s equity.
The buyers included domestic mutual funds such as Mirae Asset Mutual Fund, which acquired the largest stake of 20.8 lakh shares, alongside Bajaj Life Insurance, SBI Life Insurance, and Nippon India Mutual Fund—all buying between 9.5 lakh shares each. International institutional investors like Kuwait Investment Authority, Goldman Sachs, and Citigroup Global Markets Singapore also took positions in this block transaction.
Why it matters
These transactions represent a strategic diversification move by Accel and 360 ONE, who together are among the largest shareholders in BlueStone. With Accel offloading about 17.4% of its holdings and 360 ONE selling a part of its 3.8% stake, this is the second stake sale involving these investors this year, signaling confidence in sustainable liquidity options in the jewellery e-commerce and retail sector.
BlueStone has shown improving financial metrics, reporting a profit after tax of ₹6 crore in Q1 FY27, a turnaround from a loss a year prior, supported by a 50% year-on-year revenue increase. Despite a recent decline in sequential profitability, BlueStone’s omnichannel model, with 352 stores across 139 cities, positions it well among competitors such as CaratLane and GIVA.
What to watch next
Market watchers should monitor how BlueStone’s stock performs following these block deals, especially since shares ended trading 5.63% lower on the day of the transaction. The company’s ability to sustain revenue growth while improving profit margins will be key to investor confidence in the coming quarters.
Additionally, potential future moves by remaining institutional investors, including further stake offloading or reinvestment, could indicate their outlook on BlueStone’s medium-term growth and competitive positioning. The evolution of consumer preference in jewellery retail and the scaling of BlueStone’s omnichannel strategies will also be pivotal in shaping its market valuation.