The block transaction saw 61.98 lakh shares of BlueStone Jewellery and Lifestyle Ltd. change hands in a pre‑market window today. Total value reached ₹513 crore, averaging ₹827 per share. The deal represents 4.1% of the company’s outstanding equity, a sizable chunk for a single transaction.
The floor price for the block was set at ₹800, a 6.5% discount to the previous close of ₹850. The offer’s 5.6% equity coverage translates to ₹728.5 crore, indicating the sellers were keen to offload a significant stake at a favourable price.
Accel India III Ltd and 360 ONE AAM Funds emerged as the primary selling shareholders. Both will face a 60‑day lock‑in before they can resume selling, a rule that could curb short‑term volatility but also delay any potential price support from fresh equity inflows.
The stock closed 8.64% lower at ₹850 on Wednesday, a sharp pullback after a 80% surge year‑to‑date. Despite the dip, the share price remains well above its 2023 levels, suggesting a bullish long‑term trend in the jewellery space.
Analysts note that jewellery stocks have been rallying on solid demand from the high‑end segment, but the recent block sale injects a liquidity shock that could test the resilience of BlueStone’s valuation. Comparisons to peers like Titan and Titan Jewellers show that similar block deals have often led to temporary price corrections.
Looking ahead, the company will report its Q1 earnings on October 5, where investors will gauge whether the block sale materially impacted profitability. The 60‑day lock‑in could also influence the timing of any future equity raises, keeping traders watching the calendar closely.