BlueStone Jewellery IPO received 0.66 times subscription applications by end of Day 2

Mumbai, 12 August 2025: The ₹1,540.65 crore initial public offering (IPO) of BlueStone Jewellery Limited received total subscription of 0.66 times by the end of the second day of bidding on August 12, 2025.

The retail category led the participation, followed by qualified institutional buyers (QIBs), while non-institutional investors (NIIs) remained comparatively muted.

The retail investor portion of the BlueStone Jewellery IPO was subscribed 0.75 times, with bids placed for 22,37,582 shares against 29,79,980 shares offered, amounting to ₹115.68 crore. The QIB (excluding anchor investors) segment followed with 0.84 times subscription, receiving bids for 75,02,387 shares against 89,39,939 shares offered, aggregating ₹387.87 crore. NIIs subscribed 0.23 times of their allocated quota, with 10,42,811 shares bid against 44,69,970 shares offered, totalling ₹53.91 crore.

Within the NII segment, bNII (applications above ₹10 lakh) reached 0.29 times subscription, with 8,73,741 shares bid for against 29,79,980 shares offered (₹45.17 crore). The sNII (applications below ₹10 lakh) stood at 0.11 times, with 1,69,070 shares bid for against 14,89,990 shares offered (₹8.74 crore). Anchor investors had fully subscribed their quota of 1,34,09,910 shares, contributing ₹693.29 crore. The IPO received a total of 58,206 applications.

IPO Structure and Key Details

BlueStone Jewellery IPO is a book-built issue comprising:

• Fresh issue of 59 crore shares worth ₹820 crore.
• Offer for sale (OFS) of 39 crore shares worth ₹720.65 crore.

The price band is set at ₹492 to ₹517 per share. The minimum lot size for retail investors is 29 shares (₹14,268), for sNII 14 lots (406 shares worth ₹2,09,902), and for bNII 67 lots (1,943 shares worth ₹10,04,531).

IPO Timeline

• Bidding period: August 11–13, 2025
• Allotment finalisation: August 14, 2025
• Listing date (BSE & NSE): August 19, 2025

Proceeds Utilisation

The company plans to utilise the net proceeds from the fresh issue for:

• Expansion of retail store network.
• Working capital requirements.
• General corporate purposes.

Headquartered in Bengaluru, BlueStone Jewellery Limited operates in the jewellery retail segment, offering a wide range of gold, diamond, and gemstone jewellery through both online and offline channels. The company’s business model integrates digital presence with a growing network of physical stores across India.