BlueStone Jewellery IPO makes poor debut; shares list at 1% discount

BlueStone Jewellery shares listed at ₹510 per share on the NSE and ₹508.80 per share on the BSE, against the IPO issue price of ₹517

BlueStone Jewellery IPO listing today, August 19, 2025: Shares of jewellery maker and owner of flagship brand BlueStone, BlueStone Jewellery & Lifestyle, made a disappointing debut on the stock exchanges on Tuesday, August 17, 2025.  BlueStone Jewellery shares listed at ₹510 per share on the National Stock Exchange (NSE), reflecting a discount of ₹7 or 1.32 per cent against the IPO issue price of ₹517. 

On the BSE, BlueStone shares listed at a discount of ₹8.20 or 1.59 per cent at ₹508.80 per share.

 

Similarly, BlueStone Jewellery shares listed at a discount of 1.32 per cent at ₹510 per share against the IPO issue price.

 

 

The listing of the BlueStone Jewellery IPO came almost in line with grey market estimates, where the sentiment was lacklustre. Ahead of the listing, the company’s unlisted shares were trading almost flat in the grey market. The shares were quoted exchanging hands at around ₹519 each, reflecting a premium of merely ₹2, or 0.39 per cent, over the issue price, according to sources tracking grey market activity.

BlueStone Jewellery IPO details

BlueStone Jewellery IPO comprises a fresh issue of 15.9 million equity shares aggregating to ₹820.00 crore and an offer for sale of 13.9 million shares worth ₹720.65 crore.

 

The public issue was offered at a price band of ₹492–₹517 per share, with a lot size of 29 shares, from Monday, August 11, 2025, to Wednesday, August 13, 2025. The company set the issue price at ₹517 when the basis of allotment was finalised on Thursday, August 14, 2025.

 

BlueStone Jewellery received decent participation from investors, getting oversubscribed by 2.70 times, riding on the back of Qualified Institutional Buyers (QIBs), who oversubscribed their reserved category by 4.28 times. Retail investors overbooked their quota by 1.35 times. Meanwhile, the quota reserved for non-institutional investors remained undersubscribed, as it was booked only 55 per cent, according to NSE data. 

 

The company will not receive any proceeds from the OFS, and the proceeds received from the it will not form part of the net proceeds. "Each of the selling shareholders will be entitled to their respective portion of the proceeds of the OFS, in proportion to the equity shares offered by the respective selling shareholders, after deducting their proportion of offer-related expenses and applicable taxes," said the company in its Red Herring Prospectus (RHP).

 

However, the company will utilise the proceeds from the fresh issue for funding its working capital requirements and for general corporate purposes.

About BlueStone Jewellery and Lifestyle

 

BlueStone Jewellery and Lifestyle Limited manufactures and retails diamond, gold, platinum, and studded jewellery across India. As of March 31, 2025, the company operates 275 stores in 117 cities. BlueStone offers a wide range of jewellery products, including rings, earrings, and pendants, with 91 collections catering to diverse customer segments. The company has a strong online presence, providing an omni-channel retail experience with in-house technology driving its operations. BlueStone's manufacturing capabilities are vertically integrated, supporting its pan-India presence across tier-I, II, and III cities.