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BlueStone Jewellery Stock Listing: BlueStone Jewellery and Lifestyle made a muted debut on the stock markets today, with its shares listing almost flat compared to the IPO issue price of Rs 517 per share.

On the Bombay Stock Exchange (BSE), BlueStone shares opened at Rs 508.80, while on the National Stock Exchange (NSE), they began trading at Rs 510.00. This translates to a discount of about 1.3–1.6 per cent from the IPO price.

According to the BSE, the stock showed an indicative price of Rs 490, about 5.22 per cent below its IPO upper price of Rs 517 per share.

On the NSE, the pre-opening price is Rs 510, down 1.35 per cent from the issue price.

The company’s initial public offering (IPO) was opened on August 11 and closed on August 13. The allotment of shares took place on August 14.

Subscription data showed the IPO was subscribed 2.70 times overall. Category-wise, the qualified institutional buyers (QIBs) segment saw the highest demand, with 4.28 times subscription, while the retail investors portion was booked 1.35 times, and the non-institutional investors (NIIs) category witnessed 55 per cent subscription.

The response was considered modest compared to other recent issues. Zee Business Managing Editor expected the stock to debut close to its upper issue price of Rs 517 per share. He had advised investors to avoid the IPO, citing valuation concerns and limited retail participation.

For those allotted shares, Singhvi has suggested to keep a stop loss slightly below the issue price to manage listing-day volatility.

BlueStone raised Rs 1,540.65 crore through the IPO, priced in the range of Rs 492 to Rs 517 per equity share.

The issue consisted of a fresh issue of 1.59 crore equity shares worth Rs 820 crore and an offer-for-sale (OFS) of 1.39 crore shares aggregating Rs 720.65 crore.

Axis Capital acted as the book-running lead manager for the issue, while Kfin Technologies served as the IPO registrar.

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Sub-editor at Zee Business English

ankur.gupta@india.com

Gupta is a journalist with a multifaceted reporting background. At Zee Business Digital, he covers a wide range of topics, includ ...LATEST NEWSBy accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.