BlueStone Jewellery IPO subscribed 65 pc on Day 2 of offer

New Delhi, Aug 12 (PTI) The initial public offer of BlueStone Jewellery and Lifestyle Ltd, which offers contemporary jewellery under its flagship brand 'BlueStone', got subscribed 65 per cent on the second day of share sale on Tuesday.

The three-day IPO received bids for 1,07,81,214 shares against 1,65,14,421 shares on offer, according to data available with the NSE.

The Qualified Institutional Buyers (QIBs) portion got subscribed 85 per cent while the quota for Retail Individual Investors (RIIs) received 73 per cent subscription. The category for non-institutional investors fetched 23 per cent subscription.

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

The issue, with a price band of Rs 492-517 per share, will conclude on Wednesday.

The initial public offer (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.

Those selling shares through the OFS include Kalaari Capital Partners II, LLC, Saama Capital II, Ltd., Sunil Kant Munjal (and other partners of Hero Enterprise Partner Ventures) and others.

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