Accel, 360 ONE sell BlueStone shares worth ₹513 crore in block deals

Accel and 360 ONE offloaded 61.98 lakh BlueStone shares—nearly 4% of equity—at ₹827.60 apiece. The omnichannel jeweller, which operates 352 stores across 139 cities, reported Q1 FY27 revenue growth of 50% year-on-year to ₹736.9 crore.

— Source publishedThu, 24 Sept, 2026, 21:10 IST·First seen Thu, 24 Sept, 2026, 22:01 IST·Source Inc42

What happened

Accel and 360 ONE sold 61.98 lakh BlueStone shares through block and bulk deals worth ₹513 crore. The omnichannel jeweller operates 352 stores in 139 cities and

Key facts

  • 61.98 lakh BlueStone shares sold
  • ₹513 crore total transaction value
  • ₹827.60 per share deal price
  • Nearly 4% of equity changed hands
  • Accel sold 28 lakh shares for ₹231.7 crore
  • 360 ONE funds sold nearly 34 lakh shares for ₹281.3 crore
  • Accel held 10.1% as of June 30, 2026 and sold 17.4% of its holding
  • BlueStone operates 352 stores across 139 cities
  • Q1 FY27 PAT: ₹6 crore versus ₹34.8 crore loss year earlier
  • Q1 FY27 operating revenue: ₹736.9 crore, up 50% YoY and 8% QoQ
  • Stock closed 5.63% lower at ₹805.06

Why this matters

The stake sale provides a market-based valuation reference for BlueStone while its rapid growth and broad physical network strengthen its relevance as a potential strategic partner or competitive benchmark in organised jewellery retail.

What to watch

  • Subsequent promoter, PE/VC or 360 ONE shareholding disclosures and bulk/block-deal data.
  • Q2 revenue growth versus the Q1 FY27 50% year-on-year benchmark.
  • EBITDA margin, inventory turns, working-capital intensity and gold-price hedging outcomes.
  • Net new stores, mature-store productivity and online-to-store conversion trends.
  • Whether the block-deal price of ₹827.60 becomes a near-term technical resistance or support level.
  • Likely additional block transactions or disclosed stake changes from legacy financial investors.
  • Management emphasis on using its 352-store footprint to lift repeat purchases, omnichannel conversion and operating leverage.
  • Greater investor focus on quarterly gross margin, EBITDA trajectory, new-store payback and same-store sales rather than top-line growth alone.
  • Potential acceleration of store additions in underpenetrated cities if demand remains resilient.

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