BlueStone Jewellery Stock Listing, BlueStone Jewellery Share Price: Shares of BlueStone Jewellery ended over 5 per cent higher on its Dalal Street debut.
On Tuesday, the stock closed at Rs 546, up 5.61 per cent, on BSE. On NSE, it ended at Rs 542, indicating a 4.84 rise from the issue price.
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 issue price.
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Trades higher after listing
However, within minutes of listing, the stock recovered and moved into positive territory, trading over 2 per cent higher at Rs 522.25 on the NSE and up 1.77 per cent at Rs 517.80 on the BSE as of 10 am.
Pre-listing indications
Ahead of the debut, the BSE’s pre-open session showed an indicative price of Rs 490, about 5.22 per cent below the IPO price.
On the NSE, the pre-open indication was Rs 510, down 1.35 per cent from the issue price.
BlueStone Jewellery IPO subscription details
The company’s initial public offering (IPO) opened on August 11 and closed on August 13, with share allotment taking place on August 14. Subscription data showed the IPO was subscribed 2.70 times overall. The Qualified Institutional Buyers (QIBs) segment saw the highest demand at 4.28 times, while the Retail Individual Investors (RIIs) portion was booked 1.35 times. The Non-Institutional Investors (NIIs) category subscribed just 55 per cent of their quota.
What can investors/traders expect?
The subscription levels were considered modest compared to other recent IPOs. According to market commentary, the stock was expected to list close to its upper issue price of Rs 517. Some analysts had advised investors to avoid the IPO, citing valuation concerns and limited retail participation.
For those allotted shares, Singhvi recommended maintaining a stop-loss slightly below the issue price to manage volatility.
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BlueStone raised Rs 1,540.65 crore through the IPO, priced in the range of Rs 492–Rs 517 per equity share.
The issue comprised a fresh issue of 1.59 crore 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, while KFin Technologies served as the registrar.
