BlueStone IPO: A Glittering Opportunity in Contemporary Jewellery
BlueStone Jewellery and Lifestyle Ltd's IPO received a 65% subscription on the second day. Out of the 1,65,14,421 shares on offer, 1,07,81,214 were bid for, with QIBs getting 85% and RIIs 73%. The IPO, which concludes Wednesday, has a transaction size of Rs 1,540.65 crore.
- Country:
- India
BlueStone Jewellery and Lifestyle Ltd's initial public offering (IPO) garnered 65% subscription on its second day of trading, with the offer set to close on Wednesday. Investors have bid for 1,07,81,214 shares against the total offering of 1,65,14,421 shares, data from the NSE reveals.
The IPO witnessed different subscription levels across investor categories, with Qualified Institutional Buyers (QIBs) subscribing to 85% and Retail Individual Investors (RIIs) securing 73%. However, the non-institutional investors' category saw a 23% subscription.
Launched in 2011, BlueStone has grown to become a renowned brand among jewellery retailers, operating 275 stores in 26 states and Union Territories. Proceeds from the IPO will support the company's working capital and corporate needs. The equity shares will be listed on BSE and NSE.
(With inputs from agencies.)
- READ MORE ON:
- BlueStone
- IPO
- jewellery
- share sale
- investment
- NSE
- BSE
- QIBs
- retail investors
- subscription
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