Accel, 360 ONE Offload BlueStone Shares Via ₹513 Cr Block Deals

Institutional investors Accel and 360 ONE have recently sold a total of 61.98 Lakh shares of BlueStone, an omnichannel jewellery retailer, via various bulk and block deals, according to BSE data. Accel India III (Mauritius) offloaded 28 Lakh shares, generating ₹231.7 Cr, while four of 360 ONE’s funds collectively sold nearly 34 Lakh shares for ₹281.3 Cr.

Each transaction occurred at ₹827.60 per share, which is a 3% premium to BlueStone’s closing price for the day. The shares bought by domestic mutual funds and insurance companies, with Mirae Asset Mutual Fund being the primary purchaser, acquiring 20.8 Lakh shares. Other major buyers included Bajaj Life Insurance, SBI Life Insurance, and Nippon India Mutual Fund, each purchasing 9.5 Lakh shares.

International investors such as Kuwait Investment Authority, Goldman Sachs, and Citigroup Global Markets Singapore also acquired a stake in the company. Altogether, approximately 4% of BlueStone’s equity changed hands, totaling a combined ₹513 Cr. Accel, which held around 10.1% of BlueStone’s shares as of June 30, 2026, has now reduced its stake to 17.4%.

360 ONE owned approximately 3.8% of BlueStone at the end of the June quarter. This is the second time these investors have offloaded shares in BlueStone this year, with Accel, 360 ONE, and IvyCapVentures previously selling 46.4 Lakh shares in June via open-market transactions for ₹242.8 Cr. Established in 2011 by Gaurav Singh Kushwaha and Vidya Nataraj, BlueStone offers over 8,000 jewelry designs, including rings, pendants, and earrings.

The retailer competes with brands like CaratLane and GIVA as well as traditional jewelry companies. BlueStone operates 352 stores across 139 cities. Financially, the company reported a profit after tax (PAT) of ₹6 Cr in Q1 FY27, a stark contrast to a loss of ₹34.8 Cr in the same period the previous year. However, the profit decline was 81% on a sequential basis, while operating revenue increased by 50% YoY and 8% QoQ to ₹736.9 Cr.

At the close of today’s trade, BlueStone’s stock saw a 5.63% decrease, trading at ₹805.06 on the BSE.