New Delhi, 19 August (Kiran News). Shares of Bluestone Jewellery, a company known for gold, diamond, platinum, and traditional jewellery under the Bluestone brand, disappointed IPO investors today with a weak entry in the stock market. However, due to buying activity after the listing, IPO investors are currently in profit.
Under the IPO, the company’s shares were issued at a price of ₹517. Today, they were listed at ₹508.80 on the BSE and ₹510 on the NSE. This meant that IPO investors faced a loss of around one percent upon the stock market debut. Due to buying after the weak listing, the company’s shares quickly recovered from losses and moved into profit. By 11 am, Bluestone Jewellery shares were trading at ₹528.40, giving IPO investors a gain of ₹11.65 or 2.25 percent so far.
Bluestone Jewellery’s ₹1,540.65 crore IPO was open for subscription from 11 to 13 August. The IPO received an average response from investors, resulting in an overall subscription of 2.72 times. The reserved portion for Qualified Institutional Buyers (QIBs) was subscribed 4.25 times. For Non-Institutional Investors (NIIs), the reserved portion saw a 0.57 times subscription, while the retail investors’ reserved portion was subscribed 1.38 times. Through this IPO, new shares worth ₹820 crore were issued. In addition, 1,39,39,063 shares with a face value of ₹1 were sold through the Offer for Sale window. The funds raised through the IPO will be used by the company to meet working capital needs and for general corporate purposes.
Talking about the company’s financial situation, as per claims made in the prospectus, its financial health has remained consistently weak. In the financial year 2022-23, the company suffered a net loss of ₹167.24 crore, which reduced to ₹142.24 crore in the following financial year 2023-24. However, in 2024-25, the company’s loss increased to ₹221.84 crore. During this period, the company’s revenue grew at a compound annual growth rate (CAGR) of more than 52 percent, reaching ₹1,830.04 crore. Meanwhile, the company’s debt has also been continuously rising. At the end of FY 2022-23, the company’s debt stood at ₹228.42 crore, at the end of FY 2023-24 it was ₹430.43 crore, and by the end of FY 2024-25, the debt reached ₹728.62 crore.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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