Bluestone Jewellery IPO sees muted demand; listing on Aug 19

Bluestone Jewellery’s IPO drew a weak response from the market. The Rs 1,500 crore issue, open between August 11–13, was subscribed around 2.57X overall, with the bulk of the demand coming from institutional investors.

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 492–517 per share.

The response was modest when stacked…