BlueStone Jewellery Makes Muted Market Debut; Lists At ₹510
Synopsis
The IPO was subscribed 2.70 times overall, according to NSE data.
BlueStone Jewellery and Lifestyle made a soft market debut on Tuesday, listing at ₹510, a discount of over 1% to its IPO price of ₹517 per share. At the time of writing, the shares were up 1.16% at ₹523 on the NSE.
IPO Details
BlueStone Jewellery’s IPO opened for subscription on August 11 and closed on August 13, with allotments finalized on August 14.
The issue raised ₹1,540.65 crore at the upper end of its price band of ₹492–517 per share. It comprised a fresh issue of 1.59 crore equity shares worth ₹820 crore and an offer-for-sale (OFS) of 1.39 crore shares aggregating ₹720.65 crore.
The IPO was subscribed 2.70 times overall, according to NSE data. Retail investors subscribed 1.35 times, non-institutional investors 55%, while qualified institutional buyers (QIBs) subscribed 4.28 times.
The company's listing has been managed by Axis Capital, Kotak Mahindra Capital, and IIFS Capital Services, with Kfin Technologies as the registrar.
Established in 2011, Bangalore-based BlueStone offers products in diamond, gold, platinum, and other studded jewelleries.
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