Bluestone Jewellery Shares Rebounds 6.6% After listing at 2% discount On Both NSE & BSE

Bluestone Jewellery IPO made its stock market debut today with a subdued listing on both BSE and NSE. Against the IPO price of Rs. 517 per share, Bluestone shares opened at Rs. 508.80 on BSE and Rs. 510 on NSE, with a nearly 2% discount. However, after the weak opening, Bluestone shares quickly recovered, hitting an intraday high of Rs. 544 on NSE, rising sharply 6.6% from the listing price.

Bluestone Jewellery IPO Subscription Details

The Bluestone Jewellery IPO, worth Rs. 1,540.65 crore, consisted of a fresh issue of Rs. 820 crore and an offer for sale (OFS) of Rs. 720.65 crore. The IPO received an overall subscription of 2.7 times. The Qualified Institutional Buyers (QIBs) segment was the strongest, with demand 4.28 times higher than the reserved quota. Retail investors showed moderate interest at 1.35 times subscription, while Non-Institutional Investors (NIIs) subscribed only 0.55 times for their allotted shares.

Bluestone Jewellery IPO GMP and Market Buzz

Before listing, Bluestone Jewellery IPO was trading at a modest Grey Market Premium (GMP) of Rs. 2 per share, which indicated limited listing gains. Despite the weak start, the stock surprised investors with a quick rebound in early trading. Analysts believe that demand in the secondary market could support further upside.

Bluestone Jewellery IPO Objectives

As per the Red Herring Prospectus (RHP), the proceeds from the IPO will be utilised for working capital requirements and general corporate purposes. Bluestone, a Bengaluru-based omnichannel jewellery brand, aims to strengthen its retail expansion and digital presence across India.

About Bluestone Jewellery

BlueStone is one of India's leading digital-first fine jewellery brands, founded in 2011 by Gaurav Singh Kushwaha in Bangalore. BlueStone offers an omnichannel experience, integrating its website with over 200 retail stores across India to provide access to its jewellery collections. BlueStone houses over 8,000 unique jewellery designs, including gold, platinum, diamonds, and gemstones.The company operates through 200 company-owned stores and 75 franchisee stores, covering a retail space of more than 605,000 sq. ft. BlueStone's product portfolio includes rings, earrings, necklaces, pendants, solitaires, bangles, bracelets, and chains, designed to serve diverse customer preferences across different price segments.