BlueStone Jewellery shares made their market debut on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on August 19, 2025. The IPO, which was open for subscription from August 11 to August 13, raised ₹820 crore, with the issue price set at ₹517 per share.
Stock Performance on Listing Day
On the NSE, BlueStone shares opened at ₹510 per share, reflecting a discount of ₹7, or 1.35%, compared to the issue price of ₹517. On the BSE, the shares debuted at ₹508.80, marking a 1.59% discount to the issue price.
Subscription Details and Demand
The BlueStone Jewellery IPO saw a significant oversubscription, with the offering being oversubscribed by 2.70 times. The Qualified Institutional Buyers (QIB) segment was the star performer, with their category being subscribed 4.28 times. The retail investor portion also performed well, with a subscription rate of 1.35 times. However, the Non-Institutional Investors (NIIs) segment did not garner as much enthusiasm, with only 55% of the available shares being subscribed.
IPO Details and Use of Proceeds
The IPO comprised a fresh issue of 15.9 million equity shares worth ₹820 crore and an offer for sale (OFS) of 13.9 million shares amounting to ₹720.65 crore. The funds from the fresh issue will be used primarily to fund working capital requirements and general corporate purposes.
About BlueStone Jewellery
BlueStone Jewellery & Lifestyle Ltd, founded in 2011, is one of India’s leading jewellery retailers, offering a diverse range of diamond, gold, platinum, and studded jewellery under its flagship brand ‘BlueStone’. The company retails its products across 117 cities in India through 275 retail stores and a robust online presence via its website and mobile app.
BlueStone also operates in-house manufacturing facilities in Mumbai, Jaipur, and Surat, producing over 75% of its jewellery in these facilities. The company’s design team consists of 23 in-house designers who create a wide variety of jewellery, offering more than 7,400 designs and 91 collections.
Conclusion
BlueStone Jewellery’s market debut has not been as stellar as expected, with the shares listing at a discount. Despite this, the IPO attracted solid demand from institutional and retail investors, indicating strong interest in the company’s long-term prospects. Moving forward, investors will be closely watching how BlueStone continues to expand its footprint and enhance its online presence while navigating the competitive jewellery market in India.
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