The BlueStone Jewellery IPO is a significant market event scheduled for August 11 to August 13, 2025, targeting to raise around ₹1,540 crore through a fresh issue combined with an offer for sale. Founded in 2011 and based in Bangalore, BlueStone Jewellery & Lifestyle operates as a prominent retailer specializing in diamond, gold, platinum, and studded jewelry. With over 200 stores nationwide and a strong online presence, BlueStone aims to expand working capital and general corporate purposes through the IPO. The BlueStone Jewellery IPO positions investors to participate in one of India’s leading jewelry brands with strong growth and market presence.
₹00
₹517
₹510.00
Expert Opinions
The BlueStone Jewellery IPO is receiving cautious market sentiment amid its aggressive expansion efforts and operating losses. The company’s strengths include a well-recognized brand, a robust omni-channel retail model combining over 200 stores with a strong online presence, and technological innovation enhancing customer experience. However, the company faces challenges such as intense competition in the highly fragmented jewellery sector, margin pressures from volatile gold prices, and the need to achieve profitability.
For FY 2025, financial metrics show a concerning Return on Equity (ROE) of -34.53%, negative ROCE of -3.67%, and a Net Asset Value (NAV) of ₹66.94, reflecting ongoing losses and capital intensity. From a long-term investment perspective, the IPO could appeal to investors willing to back BlueStone’s scale-up strategy and market penetration plans, despite near-term financial headwinds and profitability risks.
Investor Considerations
The BlueStone Jewellery IPO reflects a company experiencing significant revenue growth, with FY 2025 revenues rising to ₹1,830.04 crore, up from ₹1,303.49 crore in FY 2024. Despite this growth, the company reported a PAT margin of -12.53%, indicating ongoing losses, and a debt-to-equity ratio of 0.80, suggesting moderate leverage. The Price to Book Value stands at 2.01, suggesting the stock is priced at a premium to its book value.
The branded jewellery sector remains attractive due to rising disposable incomes and consumer preference for organized retail, but BlueStone faces risks including intense competition, volatile gold prices, and the challenge of achieving profitability. Growth prospects hinge on expanding both its omni-channel retail footprint and technological innovation to enhance customer experience. The IPO suits long-term investors willing to back its turn-around and scale-up strategy, while short-term investors should be wary of near-term losses and market volatility.
| Date | GMP | Trend |
|---|---|---|
| 18 Aug 2025 10.55 | ₹00 | --- |
| 17 Aug 2025 12.31 | ₹00 | --- |
| 15 Aug 2025 11.36 | ₹00 | --- |
| 14 Aug 2025 10.37 | ₹00 | --- |
| 13 Aug 2025 10.54 | ₹00 | Down |
| 12 Aug 2025 13.17 | ₹5 | Down |
| 11 Aug 2025 11.00 | ₹10 | Down |
| 10 Aug 2025 14.50 | ₹15 | --- |
| 09 Aug 2025 12.18 | ₹15 | --- |
| 08 Aug 2025 11.40 | ₹15 | --- |
| 07 Aug 2025 16.30 | ₹15 | Down |
| 06 Aug 2025 18.35 | ₹35 | --- |
FAQs
The Grey Market Premium showed fair accuracy in predicting BlueStone Jewellery IPO’s listing performance. With a final GMP of ₹0, it projected no listing gain over the issue price of ₹517. The stock listed at ₹510, delivering a loss of 1.35%. This resulted in a small prediction error of 1.35%, where the GMP incorrectly signaled a flat listing while the stock opened slightly lower, reflecting fair reliability in this case.
BlueStone Jewellery IPO Current GMP is ₹00.
BlueStone Jewellery IPO Expected Returns is 0.00%.
BlueStone Jewellery IPO estimated listing price is ₹517.