BlueStone Stake Sale Sees Accel, 360 ONE Offload ₹513 Cr
Accel and 360 ONE sold shares worth ₹513 crore in BlueStone via block deals. The transactions occurred as the omnichannel jeweller reported its third consecutive profitable quarter, with revenue surging 50% year-on-year.
Institutional investors Accel and 360 ONE have significantly reduced their stakes in BlueStone Jewellery through block deals worth ₹513 crore. This marks the second major stake sale by these funds, alongside IvyCap Ventures, in the direct-to-consumer jeweller this year.
Accel India III (Mauritius) sold 28 lakh shares, representing a 1.84% stake, for ₹231.7 crore. Four funds managed by 360 ONE collectively sold nearly 34 lakh shares for ₹281.3 crore. The shares were sold at ₹827.60 apiece, a 3% premium to the stock's closing price on the day of the report. In total, nearly 4% of BlueStone's equity changed hands.
Following the transaction, Accel’s holding through its affiliates declined to 8.71% from 10.55%. The firm had held a 10.1% stake, or 1.6 crore shares, as of June 30, 2026. Accel stated, "Accel, one of the biggest institutional shareholders in BlueStone with 10.1% stake as of June 30, 2026, pared its holdings by 17.4%." The latest transaction represented 17.4% of its total holding.
Major Buyers Step In
A consortium of domestic and international institutions absorbed the sold shares. The largest buyer was Mirae Asset Mutual Fund, which acquired 20.8 lakh shares. Other significant purchasers included:
| Buyer | Shares Acquired (approx.) | Notable Detail |
|---|---|---|
| SBI Life Insurance | 9.5 lakh | Stake increased to 5.02% from 4.4% |
| Nippon India Mutual Fund | 9.5 lakh | |
| Bajaj Life Insurance | 9.5 lakh | |
| Goldman Sachs | Stake acquired | |
| Citigroup Global Markets Singapore | Stake acquired | |
| Kuwait Investment Authority | Stake acquired | |
| Bandhan Mutual Fund | Stake acquired |
BlueStone Posts Strong Financial Recovery
Despite the investor exits, BlueStone's underlying business shows a sharp turnaround. The company reported its third consecutive profitable quarter for Q1 FY27. It posted a consolidated net profit of ₹5.96 crore, a dramatic reversal from a net loss of ₹34.74 crore in the same quarter last year.
Operating revenue surged 50% year-on-year and 8% quarter-on-quarter to ₹736.9 crore. Total income rose 49% year-on-year to ₹751.81 crore. However, profit after tax declined by 81% on a sequential basis.
Share Price Reacts to Transaction and Results
Market reaction was mixed on the day of the stake sale report. BlueStone's stock ended the trading session 5.63% lower at ₹805.06 on the BSE. This decline came despite the company's stock having hit the 20% upper circuit following the earlier announcement of its quarterly results.
The stake sale in June 2026 was the first of the year for the investor group. At that time, Accel, 360 ONE, and IvyCap Ventures sold 46.4 lakh shares via open-market transactions for ₹242.8 crore. As of the end of the June quarter, 360 ONE held around 3.8% of BlueStone.
The jeweller continues to expand its physical footprint. BlueStone operates an omnichannel business offering more than 8,000 designs. As of June 2026, it had 352 stores across 139 cities.
