The initial public offering (IPO) of BlueStone Jewellery Limited opened today, August 11, 2025, and will remain open for subscription until August 13, 2025. The jewellery company aims to raise ₹1,540.65 crore, through a combination of a fresh issue of shares worth ₹820 crore and an offer for sale (OFS) of ₹720.65 crore.
Price Band and Lot Size
The price band for the IPO has been fixed at ₹492 to ₹517 per equity share. Investors can bid for a minimum of 29 shares and in multiples of 29 thereafter. Thus, the minimum investment required for a retail investor is ₹14,993.
Grey Market Premium (GMP)
According to market observers, BlueStone Jewellery shares are trading at a premium in the grey market. The Grey Market Premium (GMP) is ₹16 today. This suggests a potential listing price of around ₹533. However, it is important to note that the GMP is an unofficial indicator and is based on market sentiment. It is not regulated by stock exchanges or SEBI, and investors should not solely rely on it for investment decisions.
Subscription Status
The IPO opened for subscription at 10:00 AM today. Preliminary data indicates that the issue has been subscribed 0.01 times. The retail portion has been subscribed 0.05 times, the QIB portion 0.00 times, and the NII portion 0.01 times.
About the Company
BlueStone Jewellery & Lifestyle Ltd. is a leading omni-channel jewellery retailer offering diamond, gold, platinum, and studded jewellery under its flagship brand, 'BlueStone'. The company was founded in 2011 and has a pan-India presence with 275 stores across 117 cities in 26 states and Union Territories as of March 31, 2025. BlueStone also sells its products through its website and mobile app.
Financial Performance
While BlueStone has demonstrated strong topline growth, it has been reporting losses. The company's revenue from operations for the fiscal year ended March 31, 2025, grew by over 40% to ₹1830.04 crore, compared to ₹1303.49 crore in the previous fiscal year. However, the net loss for FY 2024-25 stood at ₹221.84 crore, compared to a net loss of ₹142.24 crore in FY 2023-24.
Objects of the Issue
The company proposes to utilize the net proceeds from the IPO for funding working capital requirements and general corporate purposes.
Key Dates
Should you apply?
Analysts have mixed opinions on whether to subscribe to the BlueStone Jewellery IPO. Some analysts highlight the company's strong brand, revenue growth, and expanding store network. However, others point out concerns regarding its lack of profitability, negative margins, and expensive valuations. Investors should carefully consider these factors and conduct their own due diligence before making any investment decisions.
