BlueStone Jewellery IPO shares to list today; check latest GMP before stock market debut

Shares of BlueStone Jewellery & Lifestyle are poised to debut on Dalal Street today, August 19. The omni-channel jewellery brand has set its sights on a subdued opening, as indicated by the grey market premium (GMP) trends. With a broad presence of 275 stores across India, BlueStone offered its shares between Rs 492-517 each, with a lot size of 29 shares.

The Bengaluru-based company's IPO ran from August 11 to August 13, raising a total of Rs 1,540.65 crore. This sum included Rs 820 crore from new share sales and Rs 720.65 crore from an offer-for-sale involving 1,39,39,063 equity shares. Despite this, the GMP corrected sharply before the listing, from Rs 9-10 to a mere Rs 2, indicating a flat listing expectation.

Overall, the IPO was subscribed 2.70 times, drawing about 1.09 lakh applications. It raised bids worth Rs 2,307 crore, net of the anchor book. The quota for qualified institutional bidders (QIBs) was subscribed 4.28 times, while retail investors booked 1.35 times their allotment. However, the non-institutional investors' (NIIs) portion remained underwhelming at just 55% subscription.

Founded in July 2011, BlueStone Jewellery has grown to service over 12,600 PIN codes across India, offering products in diamond, gold, platinum, and other studded jewelleries. The company's listing has been managed by Axis Capital, Kotak Mahindra Capital, and IIFS Capital Services, with Kfin Technologies as the registrar. Shares are set to be listed on both BSE and NSE.