BlueStone Jewellery IPO GMP Falls – What It Means for Listing Gains & Your Bid

BlueStone Jewellery IPO GMP ₹11 Expert Verdict Final Bidding Trends – Don’t Miss Out

As the Indian primary market heats up in August 2025, one of the most anticipated listings is BlueStone Jewellery Limited. Backed by a strong omni-channel presence in diamond, gold, and platinum jewellery, the company’s IPO has generated buzz both for its brand strength and its market positioning. At the same time, BlueStone Jewellery IPO GMP trends are being closely tracked by investors seeking early signals on listing-day performance.

According to market observers, BlueStone IPO GMP stands at ₹11 on 11 August 2025, down from a recent high of ₹17. While this premium indicates modest listing expectations, investor sentiment remains divided — with some analysts recommending a long-term subscribe and others urging caution due to valuation concerns.

BlueStone IPO GMP Today & Grey Market Sentiment

The Grey Market Premium (GMP) is an unofficial indicator of potential listing gains, reflecting demand for the shares before they debut on the exchanges. For BlueStone, GMP activity began in early August, peaking at ₹17 on 8–9 August before softening to ₹11 as of the IPO’s opening day.

GMP Trend Snapshot (August 2025):

A declining GMP doesn’t necessarily mean the IPO will underperform — broader market sentiment, sector trends, and anchor investor participation often influence the final listing price more than grey market signals alone.

Subscription Status: Retail, QIB, and NII Updates

On Day 3 at 10:09 AM, the BlueStone IPO subscription status reflected only early-stage investor participation.:

• Overall Subscription: 0.02x
• Retail Investors: 0.09x
• Non-Institutional Investors (NII): 0.01x
• Qualified Institutional Buyers (QIB): 0.00x

These muted numbers are typical for the early hours of the final bidding day in high-value IPOs, as institutional participation often peaks closer to closure.

IPO Details: Price Band, Dates, and Lot Size

The issue targets a total fundraising of ₹1,540.65 crore, comprising ₹820 crore from fresh share issuance and ₹720.65 crore via an Offer for Sale (OFS)..

Expert Review: Should You Subscribe?

Market analysts hold mixed views on the BlueStone Jewellery IPO.

• Cautious View:
  Gaurav Goel, Founder & Director at Fynocrat Technologies, notes that while BlueStone has brand strength and topline growth, the IPO comes with “lack of profitability, negative margins, and expensive valuations,” pointing out that meaningful PAT may still be 2–3 years away.
• Bullish Long-Term View:
  Anshul Jain, Head of Research at Lakshmishree Investment, highlights the company’s impressive revenue growth from ₹576 crore in FY21 to ₹1,249 crore in FY23, with a turnaround to ₹35 crore PAT in 9MFY24. He believes the brand’s omni-channel strategy, expansion plans (targeting 300+ outlets), and 32% gross margins position it well for long-term growth, albeit with near-term margin pressures.

Competitive Landscape & Risks

BlueStone competes with established jewellery brands like Tanishq and regional leaders. The business model is capital-intensive, with EBITDA margins of around 8% and significant costs tied to offline expansion. This could weigh on short-term profitability.

However, the jewellery retail market in India is projected to grow steadily, supported by rising disposable incomes and demand for branded, design-led products. BlueStone’s technology integration, modern design approach, and nationwide presence in 203 stores across 86 cities could help capture market share.

Opportunities Ahead

• Store Expansion: Targeting 300+ outlets over the next few years.
• Omni-channel Growth: Strong e-commerce and in-store integration.
• Brand Positioning: Premium, design-led jewellery with tech-enabled customisation.

These strengths, coupled with IPO proceeds allocated to working capital and expansion, could support sustained growth if managed efficiently.

FAQs: BlueStone Jewellery IPO

1. What is BlueStone IPO GMP today?
As of 11 August 2025, BlueStone Jewellery IPO GMP is ₹11, according to market observers.

2. Is BlueStone Jewellery IPO good for long-term investment?
Analysts are divided — some see strong long-term potential given revenue growth and brand equity, while others caution about valuations, competition, and capital intensity.

3. What is the expected listing gain?
Based on the current GMP, expected listing gains are around 2%, but this could change as the subscription book develops and market sentiment shifts.

Considering the BlueStone IPO?
Compare GMP trends, fundamentals, and broker calls before making your bid. While the long-term growth story appears promising, short-term listing performance will depend on final subscription demand and broader market conditions.