The Indian IPO market is buzzing with activity as BlueStone Jewellery & Lifestyle Ltd.’s ₹1,540.65 crore mainboard IPO, which opened on August 11, 2025, continues to draw significant investor attention. Priced at ₹492 to ₹517 per share, the IPO has sparked interest due to its scale and the company’s strong digital-first, omnichannel presence. Meanwhile, the SME IPO segment is also heating up, with offerings like Mahendra Realtors & Infrastructure opening for subscription today, August 12, 2025, adding to the vibrant market landscape.
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In the SME segment, Mahendra Realtors & Infrastructure’s ₹49.45 crore IPO, priced at ₹75–₹85 per share, opened today and will close on August 14, 2025. The company, focused on engineering, construction, and structural rehabilitation, aims to raise funds for working capital and corporate purposes. With a strong project portfolio, including works for CIDCO and IIT Bombay, and a 22% revenue increase to ₹128.69 crore in FY25, the IPO has garnered a GMP of ₹6, indicating a potential listing price of ₹91. This offering is expected to list on the NSE SME platform on August 20, 2025, adding to the momentum in the SME space. ipocentral.in
The simultaneous activity in mainboard and SME IPOs reflects diverse investment opportunities. BlueStone’s high-profile offering is backed by marquee investors like Accel India and Kalaari Capital, and its proceeds will fund working capital (₹750 crore) and general corporate purposes. However, analysts remain cautious, with Arihant Capital recommending a ‘Subscribe for Long Term’ rating due to BlueStone’s growth potential despite its losses. In contrast, SME IPOs like Mahendra Realtors are seen as lower-risk options for investors seeking stable returns in niche sectors. business-standard.com
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The SME IPO market has been particularly active, with recent posts on X highlighting mixed investor sentiment. Some SME IPOs have seen subscriptions as high as 300x, while others, like ANB Metal Cast (closing today), struggled at 0.31x subscription. This contrast underscores the selective nature of investor interest, with retail investors remaining active while institutional participation varies. X Post
As the IPO calendar remains packed, investors are advised to carefully evaluate fundamentals and market conditions. BlueStone’s strong brand and omnichannel model make it a compelling long-term bet, but its current losses and competitive pressures from players like Titan and Kalyan Jewellers warrant caution. Similarly, SME IPOs like Mahendra Realtors offer growth potential but carry risks inherent to smaller-scale operations. For real-time subscription updates and allotment details, investors can visit IPOwatch or kfintech.com.
Disclaimer: Investors should consult financial advisors before making investment decisions. Both mainboard and SME IPOs carry risks, including market volatility and potential financial losses. Grey market premiums are unofficial and not a reliable indicator of listing performance.
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