BlueStone Jewellery IPO subscribed 2.70 times

New Delhi, Aug 13 (PTI) The initial public offer of BlueStone Jewellery and Lifestyle Ltd, which offers contemporary jewellery under its flagship brand 'BlueStone', got subscribed 2.70 times on the closing day of share sale on Wednesday.

The Rs 1,540.65-crore initial public offer (IPO) received bids for 4,46,20,386 shares against 1,65,14,421 shares on offer, as per NSE data.

The Qualified Institutional Buyers (QIBs) portion fetched 4.28 times subscription, while Retail Individual Investors (RIIs) portion got 1.35 times subscription. Non Institutional Investors part, however, received 55 per cent subscription.

BlueStone Jewellery and Lifestyle on Friday raised over Rs 693 crore from anchor investors.

The issue has a price band of Rs 492-517 per share.

The IPO involves 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. This aggregates 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.

Axis Capital, IIFL Capital Services, and Kotak Mahindra Capital Company are the book-running lead managers to the issue. The equity shares are proposed to be listed on the BSE and NSE. PTI SUM SUM SHW