BlueStone Jewellery Makes Muted Market Debut; Shares Debut Nearly 2% Lower

Shares of BlueStone Jewellery and Lifestyle Ltd, which offers contemporary jewellery under its flagship brand 'BlueStone', on Tuesday listed with a discount of nearly 2 per cent against the issue price of Rs 517.

The stock started trading at Rs 508.80, down 1.58 per cent from the issue price on the BSE. However, later, it bounced back and climbed 3.14 per cent to Rs 533.25.

At the NSE, the stock listed at Rs 510, a discount of 1.35 per cent. Shares of the firm later recovered the early lost ground and went up by 3.28 per cent to hit the day's high of Rs 534.

The company's market valuation stood at Rs 8,024.52 crore.

The initial public offer of BlueStone Jewellery and Lifestyle Ltd got subscribed 2.70 times on the closing day of share sale on Wednesday last week.

The Rs 1,540.65-crore initial public offer (IPO) had a price band of Rs 492-517 per share.

The IPO involved a fresh issue of Rs 820 crore and offer-for-sale (OFS) of 1,39,39,063 equity shares worth Rs 720.65 crore, at the upper-end of the price band, aggregating the transaction size to Rs 1,540.65 crore.

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.