BlueStone Jewellery's ₹1,541 crore IPO opened for subscription on August 11. On August 8, the company raised over ₹693 crore from 20 institutional investors through the anchor book. The price band for this IPO is ₹492 to ₹517 per share. The grey market premium is ₹526 per share, which is approximately 2 percent higher than the IPO price.
BlueStone Jewellery IPO: Mumbai-based BlueStone Jewellery and Lifestyle's ₹1,541 crore IPO opened for subscription today, i.e., August 11. This public issue will remain open until August 13. The company has issued new shares worth ₹820 crore under its IPO, while existing shareholders have offered 1.39 crore shares as an offer for sale. In the IPO, investors can apply for a minimum of 29 shares, with an investment of up to ₹14,993. The price band has been fixed at ₹492 to ₹517 per share.
Slow Start to Subscription
On the first day of subscription, the IPO was subscribed up to 3 percent. According to NSE data at 11 am, bids have been received for approximately 4.42 lakh shares so far, compared to the offer size of 1.65 crore shares. Retail investors have booked approximately 12 percent of their portion, and non-institutional investors have booked 2 percent. Over ₹693 crore has already been raised from anchor investors, indicating good investor interest in the company.
Increased Confidence from Anchor Investors' Participation
On August 8, a day before the IPO opened, BlueStone raised ₹693.3 crore from 20 leading institutional investors. These included big names such as Amansa Holdings, Goldman Sachs, Societe Generale, SBI Life Insurance, Nippon Life India, and HDFC Life Insurance. This b anchor booking has increased the credibility of the company's public issue and investor confidence.
Listing and Other Important Dates
The allotment of shares for the IPO is likely to be announced on August 14. Following this, these shares will be listed on both the BSE and NSE stock exchanges on August 19. After listing, investors will be able to make a real assessment of the returns from this IPO.
BlueStone Jewellery's Marketing and Business Profile
BlueStone Jewellery & Lifestyle has created a distinct identity on the digital platform. The company sells jewellery online and also provides customers with traditional jewellery with modern designs. Innovative marketing, a customer-centric approach, and a growing customer base are considered the main reasons for the company's rapid growth.
Slight Decline in Grey Market Premium
BlueStone Jewellery's unlisted shares are trading in the grey market at ₹526 per share. This price is approximately 2 percent higher than the IPO's upper price of ₹517. There has been a slight decline compared to the previous week, when its GMP was 3 percent. This grey market premium situation indicates that investors are positive about the IPO, but are also exercising some caution.
What's Special for Investors?
BlueStone's IPO may be attractive to investors who want to invest in online retail and fashion-related companies. The company's b financial performance and digitalization mean that it is expected to see good growth in the future. Investors should note that the broader economic environment and global factors in the market can also affect share prices.
