BlueStone Jewellery IPO: Listing Date and Latest GMP Ahead of Market Debut
The BlueStone Jewellery IPO was subscribed 2.7 times on the third and final day of bidding on August 13, receiving 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, and ahead of the listing, its grey market premium (GMP) indicates a flat debut on the stock exchanges.
Share Allotment Status and Grey Market Premium
The share allotment status for the BlueStone IPO was finalized 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. 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. Learn more about GMP and its significance in IPOs.
IPO Listing Date and Schedule
Shares of BlueStone Jewellery & Lifestyle Ltd. are tentatively scheduled to be listed on the BSE and NSE on Tuesday, August 22. The company will transfer shares to the Demat accounts of successful bidders on August 21, and refunds for non-allottees will also be processed the same day.
IPO Details and Objective
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, 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.
Company Overview and Business
BlueStone Jewellery & Lifestyle Ltd. produces and sells jewellery such as earrings, rings, pendants, necklaces, and bangles. It was founded in 2011 and has over 250 stores in more than 80 cities across the country. The company will use proceeds from the IPO to fund working capital requirements and for general corporate purposes.
Investment Considerations and Risks
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. It is essential to evaluate the company’s financials, management, and industry trends before making an investment decision.
For more information on investing in IPOs and stock market news, visit our investing section. Stay updated with the latest market trends and analysis to make informed investment decisions.