BlueStone Invests up to INR 25,19,98,248 in Subsidiary Ethereal House Private Limited

BlueStone Jewellery and Lifestyle Limited has approved an investment of up to INR 25,19,98,248 in Ethereal House Private Limited, a subsidiary of the Company. The investment will be carried out through the subscription of Series A2 compulsorily convertible preference shares (Series A2 CCPS) of Ethereal. The investment is being made for working capital purposes and expanding Ethereal's business. The investment is a related party transaction, but it is being carried out on an arm's length basis. The Series A2 CCPS will be convertible into 1 equity share of Ethereal, subject to certain adjustments and thresholds. Ethereal is engaged in the business of purchase, sale, manufacturing, e-commerce, import, export, processing and designing of precious and non-precious metals and stones. Ethereal's market presence is limited to India and it was incorporated on August 21, 2024.