BlueStone Jewellery IPO: Check Listing Date And Latest GMP Ahead Of Market Debut Next Week

The share allotment status for the BlueStone IPO was finalised on August 14. Investors who bid for the issue are now keeping a watch on the grey market premium ahead of the listing of the company's shares.

The BlueStone Jewellery IPO was subscribed 2.7 times on the third and final day of bidding on August 13. It received bids for 4,46,22,300 shares against 1,65,14,421 shares on offer.

The IPO listing has been tentatively scheduled for next week. Ahead of the listing, its grey market premium (GMP) indicates a flat debut on the stock exchanges.

According to InvestorGain, the GMP for the BlueStone Jewellery IPO stood at Rs 2 as of 9:00 a.m. on August 15. The latest GMP indicates a listing price of Rs 519 apiece at a premium of 0.39% over the upper limit of the price band. 

Note: GMP does not represent official data and is based on speculation.

Shares of the BlueStone Jewellery & Lifestyle Ltd. are tentatively scheduled to be listed on the BSE and NSE on Tuesday, August 19.

The company will transfer shares to the Demat accounts of successful bidders on August 18 and refunds for non-allottees will also be processed the same day. 

The BlueStone Jewellery IPO was a book-building issue worth Rs 1,540.65 crore. It comprised a fresh issue of 1.59 crore shares, worth Rs 820 crore, and an offer-for-sale (OFS) of 1.39 crore shares, amounting to Rs 720.65 crore.

To participate in the IPO, the retail investors needed to bid for a single lot size of 29 shares, requiring an investment of Rs 14,268.  

The price band for the IPO was set between Rs 492 and Rs 517 per share.

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. 

The company produces and sells jewellery such as earrings, rings, pendants, necklaces and bangles. It was founded in 2011. It has over 250 stores in more than 80 cities across the country.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.