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Bluestone shares debut at a discount on stock exchange listing

EntrackrEntrackr ยท 28d ago
Bluestone shares debut at a discount on stock exchange listing
Medial

Bluestoneโ€™s Rs 1,500 crore IPO witnessed a lukewarm response from investors, with the jewellery firm making its market debut at Rs 510 per share, a 1.3% discount compared to its issue price of Rs 517. According to exchange data, the Qualified Institutional Buyers (QIBs) portion was subscribed 4.09X, while Non-Institutional Investors (NIIs) bid only 0.53X. The Retail Individual Investors (RIIs) category managed 1.22X subscription. The company had fixed a price band of Rs 492โ€“517 per share. The proceeds from the IPO would be utilised to meet its working capital requirements and for general corporate purposes. Ahead of the issue opening, it raised Rs 693 crore from anchor investors early this month. In FY25, Bluestone posted healthy revenue growth but continued to operate at single-digit EBITDA margins. Its omnichannel approach, online sales supported by over 250 physical stores, has helped scale up but also increased costs. The company has posted a revenue of Rs 1,770 crore with a net loss of Rs 222 crore during the previous fiscal year ended March 2025. As of 10:54 AM today, Bluestone Jewellery shares stood at Rs 529.7, with a total market capitalization of Rs 8,036 crore or $930 million. Though Bluestone is listed at a discount, the early rebound and its expanding omnichannel footprint indicate room for long-term growth. The companyโ€™s ability to improve margins will be key as it competes with CaratLane, Melorra, and Giva in the fast-growing jewellery market.

Bluestone controls losses by 41% in Q1 FY26; revenue nears Rs 500 Cr

EntrackrEntrackr ยท 12d ago
Bluestone controls losses by 41% in Q1 FY26; revenue nears Rs 500 Cr
Medial

Fintrackr Bluestone controls losses by 41% in Q1 FY26; revenue nears Rs 500 Cr Bluestone, recently listed on stock exchange, announced its financial results for the first quarter of the ongoing fiscal year (Q1 FY26) on Thursday. The firmโ€™s revenue grew by 42% over the period, while its losses reduced by 41%. On a quarter-on-quarter basis, Bluestoneโ€™s operating revenue remained flat Rs 493 crore in Q1 FY26 from Rs 461 crore in Q4 FY25. The company's sole revenue stream was the sale of diamond, gold, platinum, gemstone, and pearl jewelry; however, the firm did not provide a detailed revenue breakdown for the quarter. The company made Rs 12 crore from non-operating sources which took Bluestoneโ€™s total revenue to Rs 505 crore in the first quarter. On the expense front, the cost of material remained the largest cost center for Bluestone, accounting for 54% of its total expenditure. This expense increased by 37% year-on-year, rising to Rs 290 crore in Q1 FY26 from Rs 211 crore in Q1 FY25. Employee benefit rose 50% to Rs 63 crore in Q1 FY26. Overall, Bluestone's total costs grew by approximately 29%, reaching Rs 538 crore in Q1 FY26. With the help of revenue outpacing expense growth, the company managed to cut its losses by 41% to Rs 35 crore in Q1 FY26 from Rs 59 crore in Q1 FY25. However, the company reported a positive EBITDA of Rs 67 crore in the same period. Bluestone launched its initial public offering (IPO) in August 2025, with a price band set between Rs 492 and Rs 517 per share. The stock made its market debut on 19 August 2025 at Rs 510, reflecting a slight 1.3% discount from its issue price of Rs 517 and raised Rs 1,500 crore overall, which included Rs 693 crore garnered from anchor investors earlier that month. At the end of todayโ€™s trading session, Bluestoneโ€™s share traded at Rs 564, with a 1.4% increase in its share price. The companyโ€™s total market capitalization stood at Rs 8,534 crore (approx $1 billion).

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