BlueStone Jewellery & Lifestyle Ltd’s much-awaited IPO opened today, August 11, 2025, but investor excitement seems muted so far. The company is aiming to raise about ₹1,540–₹1,541 crore through the offering, which includes ₹820 crore from fresh shares and about ₹720–₹720.6 crore via an offer for sale.
The price band has been fixed between ₹492 and ₹517 per share. The subscription window runs from August 11 to August 13, with shares expected to list on both BSE and NSE around August 19, 2025.
BlueStone Jewellery IPO Day 1 Subscription Remains Low
The IPO got off to a slow start in the morning, with subscription figures showing only 3–4% interest by midday. Reports from Value Research and Moneycontrol placed the subscription at around 3%, while The Economic Times cited a slightly better figure of 4% by 11:45 AM.
NDTV Profit also reported the IPO was subscribed just 0.04 times (4%) by the first half of the day. Such a tepid response indicates investors may be cautious, possibly choosing to wait until the final day to decide.
BlueStone Jewellery IPO Grey Market Premium Shows Modest Optimism
In the grey market, the IPO is trading with a small premium, suggesting some level of investor confidence. LiveMint reported a ₹16 per share premium, while Moneycontrol estimated a ~2% gain, with shares changing hands around ₹526 compared to the upper band price of ₹517.
The Economic Times and Groww pegged the Grey Market Premium (GMP) between 1.74% and 2%, reflecting moderate expectations. While the GMP indicates some positivity, it is far from the strong premiums seen in highly oversubscribed IPOs.
Company Fundamentals Highlight Growth and Risks
BlueStone Jewellery has shown impressive revenue growth, with sales more than doubling between FY23 and FY25. However, analysts have raised concerns about profitability and operational efficiency. The company’s net loss increased from ₹167 crore to ₹222 crore over the same period, and high inventory levels remain a key challenge.
While the brand enjoys recognition and an expanding market presence, these financial pressures could weigh on long-term performance, making some investors hesitant.
Conclusion
BlueStone Jewellery’s IPO, priced at ₹492–₹517, is off to a cautious start with Day 1 subscriptions hovering between 3% and 4%. Grey market trends show a mild premium of about ₹16 per share, or roughly 2%, above the issue price. While the company’s growth story is strong, its widening losses and operational challenges have tempered investor enthusiasm. The next two days of subscription will be crucial in determining whether interest picks up before the closing date.
F.A.Q.
– What is the issue size of the BlueStone Jewellery IPO?
The IPO aims to raise around ₹1,540–₹1,541 crore, including ₹820 crore from fresh shares and about ₹720–₹720.6 crore via an offer for sale.
– What is the price band for the BlueStone IPO?
The price band is set between ₹492 and ₹517 per share.
– How long is the BlueStone IPO subscription window open?
The subscription period runs from August 11 to August 13, 2025.
– What is the Grey Market Premium (GMP) for the BlueStone IPO?
As of Day 1, the GMP is around ₹16 per share, which is about 1.74–2% above the upper price band.
– When will BlueStone shares list on the stock exchanges?
The shares are expected to list on BSE and NSE around August 19, 2025.
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