bluestone jewellery & lifestyle Limited's board of directors and audit committee have approved a substantial investment in its subsidiary Ethereal House Private Limited. The decision was made during board meetings held on January 22, 2026, marking a significant step in the company's expansion strategy.

Investment Structure and Details

The approved investment involves subscription to Series A2 compulsorily convertible preference shares (CCPS) of Ethereal House Private Limited. The investment parameters demonstrate a structured approach to subsidiary funding:

The investment is being executed pursuant to capital infusion provisions under the Shareholders' Agreement dated January 6, 2025, between BlueStone and Ethereal House.

About Ethereal House Private Limited

Ethereal House Private Limited was incorporated on August 21, 2024, making it a relatively new entity in the BlueStone group. The subsidiary operates in the jewellery and precious stones sector, with specific focus areas including:

• Purchase, sale, and manufacturing of precious and non-precious metals
• E-commerce operations for jewellery products
• Import and export of precious stones and metals
• Processing and designing of lab-grown diamonds, gold, silver, platinum
• Trading in diamonds, sapphires, emerald, rubies, and fashion items

The company's financial position as of March 31, 2025, shows a net worth of ₹16,13,36,076.00, while turnover remains nil given its recent incorporation.

Shareholding and Corporate Structure

BlueStone currently maintains a 74% shareholding in Ethereal House on a fully diluted basis. The proposed investment is structured as a related party transaction under SEBI listing regulations, conducted on an arm's length basis. The shareholding arrangement includes specific provisions:

Investment Rationale and Utilization

The investment aligns with BlueStone's strategic expansion in the jewellery sector, particularly in emerging segments like lab-grown diamonds. The funds will be utilized by Ethereal House for working capital requirements and business expansion activities. This investment represents BlueStone's commitment to strengthening its subsidiary operations and expanding market presence in the precious metals and stones segment.

The transaction requires no governmental or regulatory approvals, streamlining the execution process. BlueStone will execute definitive documents related to the proposed investment in due course, with the board meeting concluding the approval at 4:25 PM on January 22, 2026.

BlueStone Jewellery & Lifestyle Limited has announced significant changes to its internal audit function for the financial year 2025-26. The company disclosed these developments through regulatory filings dated January 14, 2026, in compliance with SEBI listing obligations.

Internal Auditor Resignation

Nexdigm Private Limited, which served as the company's internal auditor for FY 2025-26, tendered its resignation on January 14, 2026. The firm cited pre-occupied other commitments as the primary reason for stepping down from the role.

In their resignation letter, Nexdigm Private Limited confirmed that there were no other material reasons for their departure beyond those stated. The firm expressed appreciation for the opportunity to serve BlueStone and offered to provide full support for a smooth transition process.

New Internal Auditor Appointment

The Board of Directors, in their meeting held on January 14, 2026, approved the appointment of Sudit K.Parekh & Co. LLP, Chartered Accountants, as the new internal auditors. The appointment is effective immediately and covers the entire financial year 2025-26.

About the New Internal Auditors

Sudit K.Parekh & Co. LLP is a well-established professional services firm headquartered in Mumbai. Originally founded in 1962, the firm was later converted into a Limited Liability Partnership. The company provides comprehensive services including:

• Audit and assurance services
• Internal audit functions
• Taxation advisory
• Regulatory compliance
• Advisory services for domestic and multinational clients

The firm is registered with the Institute of Chartered Accountants of India (ICAI) and operates through multiple offices across major Indian cities. With experienced partners and professionals, the firm serves clients across various sectors, delivering value-driven professional solutions.

Regulatory Compliance

Both the resignation and appointment were disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosures were made in accordance with SEBI Master Circular no. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

The change ensures continuity in BlueStone's internal audit processes while maintaining compliance with regulatory requirements. Managing Director Gaurav Singh Kushwaha signed the disclosure documents, confirming the board's approval of these appointments.