Venture capital firm Accel and investment firm 360 ONE have sold shares worth about Rs 513 crore in Bengaluru-based jewellery retailer BlueStone Jewellery and Lifestyle through block deals on the BSE.
/indianstartupnews/media/media_files/2026/06/17/desktop-728-x-90-1-2026-06-17-17-20-35.png)
The investors sold a combined 61.99 lakh shares on 24 September at Rs 827.60 apiece, according to BSE block-deal data. The transactions were worth about Rs 513.01 crore.
Accel India III (Mauritius) sold 28 lakh shares, while three funds managed by 360 ONE sold a combined 33.99 lakh shares. These included 360 ONE Special Opportunities Fund – Series 12, 360 ONE Large Value Fund – Series 13 and 360 ONE Large Value Fund – Series 18.
Based on BlueStone’s latest disclosed paid-up equity capital of 15,27,78,705 shares, the combined sale represented about 4.06% of the company. BlueStone had reported the updated share count in an exchange filing on 2 September following an allotment under its employee stock option plan.
Institutional investors buy shares
The shares were acquired by a mix of domestic and overseas institutional investors at the same price of Rs 827.60 apiece.
Mirae Asset Mutual Fund bought a combined 20.79 lakh shares, while Nippon India Mutual Fund acquired about 9.50 lakh shares. SBI Life Insurance and Bajaj Life Insurance each purchased about 9.50 lakh shares.
SBI Life’s purchase was worth about Rs 78.65 crore.
Bandhan Mutual Fund was also among the domestic buyers. Overseas investors participating in the transactions included Goldman Sachs Investments Mauritius, Citigroup Global Markets Singapore and Kuwait Investment Authority.
Second major sale involving Accel and 360 ONE this year
The transaction was the second major stake sale involving both Accel and 360 ONE in BlueStone this year.
In June, Accel India III, 360 ONE Special Opportunities Fund – Series 12 and IvyCap Ventures Trust sold a combined 46.36 lakh BlueStone shares through BSE bulk deals. Based on the prices at which the individual transactions were executed, the sales were worth about Rs 242.8 crore.
The latest transaction comes after BlueStone reported improved financial performance for the April-June quarter.
The company posted a consolidated net profit of Rs 5.96 crore in Q1 FY27, compared with a net loss of Rs 34.75 crore in the same period a year earlier.
Total income increased to Rs 751.81 crore from Rs 504.74 crore, while total expenses rose to Rs 744.82 crore from Rs 538.45 crore.
BlueStone said in its July earnings release that it had recorded its first full year of positive reported profit after tax in FY26 and had continued its profitability into FY27.
Founded in 2011 by Gaurav Singh Kushwaha and Vidya Nataraj, BlueStone began as an online jewellery business before expanding into physical retail.
The company now sells through its website, mobile app and stores, offering diamond, gold, platinum and studded jewellery. BlueStone said its portfolio includes more than 8,000 designs.
It added 12 stores during Q1 FY27, taking its network to 352 stores across 139 cities as of June 2026.