BlueStone Jewellery Makes a Sparkling Dazzle Despite Initial Share Dip

BlueStone Jewellery shares saw an initial dip but soon rebounded, reflecting investor confidence. The IPO, priced at Rs 517, was subscribed 2.70 times. Funds will aid working capital and general purposes, as the company continues to expand its retail footprint across India with its prominent jewellery brand.

Shares of BlueStone Jewellery and Lifestyle Ltd, initially slipping below the issue price, made a notable comeback on Tuesday. The stock, offered at Rs 517, opened at a slight discount on both BSE and NSE but soon recovered and closed above the offering price.

The IPO saw a strong subscription rate of 2.70 times, underscoring substantial investor interest. With a price band of Rs 492-517, the offering raised Rs 1,540.65 crore, supporting its expansion and corporate funding strategies.

BlueStone, a Bengaluru-based brand, has expanded to 275 stores across India since its inception in 2011, solidifying its position in the Indian jewellery market with a widespread operational network.

(With inputs from agencies.)