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.

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.

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.