BlueStone Jewellery IPO Listing: Shares Off To Tepid Start, List At 1.35% Discount To Issue Price

BlueStone Jewellery & Lifestyle Ltd. was listed at discount on the exchanges on Tuesday. It listed at Rs 510 apiece on National Stock Exchange, which implied a discount of 1.35% from the issue price of Rs 517. It was listed at Rs 509 apiece on BSE, which implied a 1.59% discount from the issue price.

BlueStone Jewellery initial public offering was subscribed 2.69 times so far on its last day of bidding on Wednesday.

The company manufactures and sells jewellery under the brand name 'BlueStone'. The firm is set to raise over Rs 1,500 crore from the primary market. The IPO has been open for subscription from Aug. 11 and will be closing today.

The subscription window for the IPO was open from August 11 to August 13. Axis Capital was the book-running lead manager and KFin Technologies was the registrar for the issue.

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

On Aug 8, BlueStone Jewellery raised Rs 693 crore from anchor investors on Friday, ahead of the opening of its IPO. The company allotted 1.34 crore shares at Rs 517 apiece to 20 anchor investors.