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BlueStone Jewellery IPO: Day One Subscription At 4% So Far—Check GMP

The company will use proceeds from the IPO to fund working capital requirements and for general corporate purposes.

Shreya Sur

BlueStone Jewellery IPO will be open for subscription from Aug. 11 to Aug. 13. (Source: NDTV Profit)

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Summary is AI Generated. Newsroom Reviewed

  • BlueStone Jewellery IPO subscribed 0.04 times or 4% on first day of bidding
  • IPO aims to raise Rs 1,540.65 crore through fresh issue and offer for sale
  • Company raised Rs 693 crore from 20 anchor investors at Rs 517 per share
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BlueStone Jewellery & Lifestyle Ltd. initial public offer was subscribed 0.04 times or 4% so far on its first day of bidding on Monday. The company manufactures and sells jewellery under the brand name BlueStone. The company is set to raise over Rs 1,500 crore from the primary market. The IPO will be open for subscription from Aug. 11 to Aug. 13.

The company will use proceeds from the IPO to fund working capital requirements and for general corporate purposes. 

BlueStone Jewellery & Lifestyle raised Rs 693 crore from anchor investors on Friday, ahead of its initial public offering. The company allotted 1.34 crore shares at Rs 517 apiece to 20 anchor investors.

Also Read: BlueStone Jewellery Raises Rs 693 Crore From Anchor Investors Prior To IPO Launch

IPO Details

  • Issue opens: Aug. 11.

  • Issue closes: Aug. 13.

  • IPO Allotment Date: Aug. 14.

  • Issue Type: Book-building issue.

  • Issue Size: Rs 1,540.65 crore.

  • Fresh Issue: Comprises 1.59 crore shares, worth Rs 820 crore.

  • Offer For Sale: Comprises 1.39 crore shares, amounting to Rs 720.65 crore.

  • Lot Size: 29 shares.

  • Price Band: Rs 492 and Rs 517 per share.

Subscription Status: Day One

The BlueStone IPO has been subscribed 0.04 times or 4% as of 11:06 a.m. on Monday.

  • Qualified Institutions: nil.

  • Non-Institutional Buyers: 0.01 times or 1%.

  • Retail Investors: 0.17 times or 17%.

IPO GMP

The grey market premium for BlueStone Jewellery IPO was Rs 9, as of 11:36 a.m. on Aug.11, according to InvestorGain. That implies a potential listing at around Rs 156 per share, marking a premium of 1.74%.

GMP or grey market price is not an official indicator and is based on market speculation.

Also Read: BlueStone Jewellery IPO: What Does GMP Signal As Issue Opens For Subscription

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