In the gray market, the answer to the issue was lukewarm, where the IPO trade is traded with a modest premium of only 0.4% compared to the issue price of RS 517 per share.
Bluestone Jewelry IPO GMP today:
The newest Gray Market Premium (GMP) for the IPO of Bluestone Jewely is floating between RS 2-4 above the issue price of RS 517 per share. This indicates a potential listing price of approximately RS 520, which implies a modest estimated profit of approximately 0.4% per share. However, it is important to remember that the Gray Market Premium (GMP) sentiment and demand in a non -official, non -regulated market where shares act before mentioning.
Bluestone Jewelry IPO subscription status:
From 10:10 am on day 2, the IPO from Bluestone Jewelery has reached a general subscription percentage of 66% on the stock exchanges of the shares, which so far reflects a moderate level of investment interest. Retail individual investors (RIIS) have subscribed to 77% of their assigned 30.60 Lakh shares. This indicates a cautious but noticeable participation of smaller investors, which suggests measured trust in the offer. Non-institutional investors (NIIs)-including Hoognet-worthy persons and business investors, subscribed to only 23% of the 45.90 Lakh shares that have been assigned to them. This is currently showing a slower recording of larger investors. The qualified institutional buyers (QIBs), consisting of investment funds, insurance companies and other institutional players, have demonstrated a relatively stronger interest rate and subscribed to 85% of their 88.62 Lakh stock allocation.
Bluestone Jewelry IPO – most important highlights
Bluestone Jewely has announced his first public offer (IPO) with a price band ranging from RS 492 to RS 517 per share. On the upper limit of this band, the rating of the company is estimated at around RS 7,823 Crore.
Prior to the IPO launch, secure Bluestone RS 693 Crore from Anker investors.
The company wants to increase RS 1,541 Crore via the IPO, including a fresh stock problem worth RS 820 Crore and an offer for sale (OFS) of a maximum of 1.39 crore shares by existing shareholders. The most important participants in the OFS are Accel India III (Mauritius), Saama Capital II, Kalaari Capital Partners, Iron Pillar Funds and Sunil Kant Munjal from Hero Enterprise.
Investors can then request at least 29 shares and in multiples. The problem assignment is divided as 75% for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIS) and 10% for retail investors. The shares of Bluestone will be mentioned on both the BSE and NSE, with the listing date set before 19 August.
Bluestone was founded in Bengaluru and is a digital, omni-channel jewelry store that offers an extensive collection of diamonds, gold, platinum and strewn jewelry.
Bluestone Jewelry Financial Overview
Bluestone has demonstrated a robust revenue growth, in which business income increases with a compound annual growth rate (CAGR) of almost 52%, from RS 771 Crore in FY23 to RS 1,770 Crore in FY25. However, it reported a net loss of RS 222 Crore in FY25, against an RS 14 crore loss in FY24, mainly as a result of increased marketing costs and shop expansion.
The funds collected from the new issue will mainly support the working capital requirements of RS 750 Crore, whereby the rest is assigned to general business purposes.
Axis Capital, IIFL Capital Services and Kotak Mahindra Capital are the bookstead managers for the IPO, while KFIN Technologies will serve as a registrar.
SBI effect recommendation: Subscribe in the long term
Bluestone has solidified its position as a leading Omnichannel -Rewelenwinkel in India, with a remarkable share of 28-32% of the omnichannel casual jewelry market. The strong focus on design innovation and superior product quality has contributed to maintaining healthy gross margins. In addition, the repeated turnover of the company rose to 44.6% in FY25 of 34.7% in FY23, which indicates the growing loyalty and satisfaction of customers.
At the top price band of RS 517 per share, Bluestone is valued at 4.5x EV/Sales, which is a premium compared to the listed competitors. Nevertheless, its aggressive shops of shops in the past two years, in combination with a proven track record in a steady sales growth, has the company well to take advantage of the fast -growing segment with high margin lightweight jewelry.
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As newer stores grow up and their turnover corresponds to the system -wide average, the profitability is expected to improve. Given these factors, we advise investors to subscribe to the IPO against the closing price with a long -term investment prospect, according to the brokerage.
((Indemnification: Recommendations, suggestions, views and opinions of the experts are their own. These do not represent the views of economic times)
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