This article provides a detailed look into the BlueStone Jewellery IPO, for which today marks the final day to apply. We will cover its current subscription status and any movements observed in the Grey Market Premium (GMP). For daily updates on IPOs and their Grey Market Premiums, you can subscribe to the channel and join the Telegram group for timely information.
Key Dates for BlueStone Jewellery IPO Application
The BlueStone Jewellery IPO opened for subscription on August 11th and is scheduled to close today, August 13th. Therefore, applications were accepted on August 11th, August 12th, and August 13th, with today being the final day.
How to Apply for BlueStone Jewellery IPO
If you are using net banking to apply, ensure your application is submitted before the cut-off time specified by your bank. For those applying via a UPI ID, it is crucial to accept the mandate by 5 PM for your application to be successfully processed.
BlueStone Jewellery IPO – Share Details
The company’s shares have a face value of ₹1. The cut-off price for the IPO has been set at ₹517. When applying for one lot, a minimum of 29 equity shares must be selected.
Issue Size and Retail Investor Allocation
The total issue size for BlueStone Jewellery IPO stands at ₹1540 crore. Notably, only 10% of this total is allocated to retail investors. This typically suggests lower chances of allotment for retail applicants. However, the IPO has not been subscribed as many times as expected, which could potentially increase the probability of allotment.
BlueStone Jewellery IPO Subscription Status
As of approximately 1 PM on the last day, the Qualified Institutional Buyers (QIB) category has been subscribed around 1.01 times, indicating bids worth approximately ₹465 crore. If the QIB category subscribes up to 10 times, a slightly positive listing could be anticipated. Should it achieve 20-30 times subscription, it would be considered an excellent response. However, if it remains around 10 times, the listing performance will largely depend on prevailing market conditions.
The Non-Institutional Investors (HNI) category has been subscribed approximately 0.36 times. Within this, Big HNIs subscribed about 0.45 times, and Small HNIs subscribed 0.18 times. The Retail category has been oversubscribed, meaning shares will be allocated at the cut-off price. Overall, the IPO is subscribed approximately 0.84 times, with bids totaling around ₹79 crore so far. On the first day, the IPO was subscribed 0.39 times, and on the second day, it reached approximately 0.66 times.
Grey Market Premium (GMP) Update
The Grey Market Premium (GMP) for BlueStone Jewellery IPO was observed to be around ₹2 in the morning. However, it has currently dropped to zero. This situation presents a risk, as the IPO could potentially list at a 5 to 10% discount. Investors planning to apply should be prepared for such a possibility. If you are not comfortable with this risk, it might be advisable to avoid investing in this company.
Final Thoughts
Should you have any further questions or require clarification regarding this company, please feel free to leave your queries in the comments section.
