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BlueStone Jewellery IPO: Its grey market premium stands at 0.19%, indicating a flat or negative listing.
BlueStone Jewellery IPO.
BlueStone Jewellery IPO GMP: The initial public offering of BlueStone Jewellery and Lifestyle, which offers contemporary jewellery under its flagship brand ‘BlueStone’, witnessed its final day of bidding today, Wednesday, August 13. The price of the Rs 1,540.65-crore IPO has been fixed in the range of Rs 492-517 per share. On the final day of bidding on Wednesday, the issue received a 2.72x subscription, garnering bids for 4,46,19,603 shares as against the 1,63,89,889 shares on offer.
The retail and NII participation stood at 1.38x and 0.57x, respectively. The QIB category received a 4.25x subscription.
The IPO’s grey market premium stood at 0.19%, indicating a flat or negative listing.
BlueStone Jewellery IPO Price And Lot Size
The price band of the IPO has been fixed in the range of Rs 491-517 per share.
For investors, the minimum lot size for the IPO is 29. It means investors will have to apply for a minimum of 29 shares or in multiple thereof. So, retail investors require a minimum capital of Rs 14,268 at the upper price band to apply for the IPO.
BlueStone Jewellery IPO Key Dates
The IPO was opened for public subscription on August 11, 2025. It will be closed today, August 13, 2025. The share allotment will likely be finalised on August 14, and the company is expected to be listed on both BSE and NSE on August 19.
BlueStone Jewellery IPO GMP Today
According to market observers, unlisted shares of BlueStone Jewellery are currently trading at Rs 518 against the upper IPO price of Rs 517. It means a grey market premium or GMP of Re 1, which is 0.19% over its issue price, indicating a weak listing for the issue.
The GMP is based on market sentiments and keeps changing. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
BlueStone Jewellery IPO: Analysts’ Recommendations
Brokerages remain largely positive on BlueStone Jewellery’s public issue, though with varying degrees of caution.
SBI Securities recommended investors to ‘subscribe’ with a long-term horizon, noting that the company’s “focus on design and product quality has enabled it to earn higher gross margins”. It highlighted that the repeat revenue ratio has grown to 44.6% in FY25 from 34.7% in FY23.
“Looking at the aggressive store expansion during the last 2 years and well-established track record of delivering robust sales growth, we believe BlueStone is well placed to encash on the fast growing & high margin lightweight jewellery segment… We recommend investors to SUBSCRIBE to the issue with a long term horizon at the cut-off price,” the brokerage said.
Ventura Securities also gave a subscribe call, saying, “BlueStone’s competitive advantage lies in blending a modern, tech-enabled shopping experience with the trust and touch of physical retail, setting it apart from legacy jewellers and newer online-only players.”
It added that the brand’s emphasis on “innovation, craftsmanship, and trend-driven collections” reinforces loyalty among modern Indian consumers.
Lakshmishree Equities, while advising a subscribe for risk-tolerant investors, struck a cautious tone. “Jewellery retail is typically low-margin and capital-intensive, and BlueStone’s 6–7x EV/Sales valuation looks expensive unless backed by explosive growth and profitability,” it said.
The brokerage warned that despite strong revenue growth, the company “hasn’t shown consistent net profits as of FY23 and early FY24 — unlike peers like CaratLane, backed by Titan”.
It added that “short-term volatility remains a risk” and suggested conservative investors “are better off waiting to see how the company performs post-listing”.
BlueStone Jewellery IPO: More Info
The IPO involves a fresh issue of Rs 820 crore and offer for sale (OFS) of 1,39,39,063 equity shares worth Rs 720.65 crore, at the upper end of the price band. This aggregates the transaction size to Rs 1,540.65 crore.
BlueStone Jewellery and Lifestyle on Friday raised over Rs 693 crore from anchor investors, days before its initial public offering (IPO) opening for subscription.
Those selling shares through the OFS include Kalaari Capital Partners II, LLC, Saama Capital II, Ltd., Sunil Kant Munjal (and other partners of Hero Enterprise Partner Ventures) and others.
Proceeds from the fresh issue will be used to fund its working capital requirements and general corporate purposes.
The Bengaluru-based company introduced its ‘BlueStone’ brand in 2011 and has since grown into a leading name among jewellery retailers in the country.
It has a network of 275 stores across 117 cities in 26 states and Union Territories, covering over 12,600 PIN codes across India as of March 31, 2025. The company operates three manufacturing facilities in Mumbai, Jaipur, and Surat.
Axis Capital, IIFL Capital Services, and Kotak Mahindra Capital Company are the book-running lead managers to the issue. The equity shares are proposed to be listed on the BSE and NSE.
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h…Read More
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to personal finance, markets, economy and companies. Having over a decade of experience in financial journalism, Haris h… Read More
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