BlueStone Jewellery IPO: Today was the second day of the IPO subscription of Bluestone Jewelery. The second day till 2 pm, this issue has received mixed response. According to the data available on NSE, this IPO has received a total subscription of 0.65 times. Retail part is 0.73 times, quota of non-institutional investors 0.23 times and reserve share for qualified institutional buyers (QIB) has been subscribed to 0.85 times.
Complete information about IPO
Price Band: ₹ 492 to ₹ 517 per share
Issu Size: ₹ 1,540.65 crore is which includes fresh issue of ₹ 820 crore and ₹ 720.65 crore.
Lot size: 29 shares in a lot
Allotment date: 14 August
Listing date: 19 August
Subscribe or not? Know the opinion of experts
Experts are divided on whether it is right for investors to apply in this IPO. Research head Anshul Jain of Lakshminashree Investment has advised it to ‘subscribe’ for a long period. He says that the company has shown a great increase in revenue and has registered a profit of ₹ 35 crore in 9mfy24 of FY24. With strong branding and frequent store expansion, the company is in good position in India’s growing jewelery market.
At the same time, Gaurav Goyal of Finacrat Technologies has advised investors to be vigilant. He has expressed concern over the company’s lack of profitability, negative margin and expensive evaluation. They believe that it may take 2-3 years for the company to earn concrete profit. Anshul Jain also believes that the business of Bluestone jewelery is capital-intensive and the cost of offline expansion may put pressure on short-term earnings.
How much is Gray Market Premium (GMP)
Bluestone Jewelery IPO has seen a decline in the gray market premium. According to Inventorgan data, the company’s unlisted shares are currently trading at ₹ 526 per share, indicating about 2% premium from the IPO price of ₹ 517. This GMP has fallen by 3% of the last week, although there has been no change since opening for IPO subscription. According to experts, this decline may indicate a decrease in investors’ interest.
Disclaimer: Here information provided is being given only for information. It is necessary to mention here that the investment market in the market is subject to risks. Always consult experts before investing money as an investor. There is never advice to anyone to invest money on behalf of Moneycontrol.