Omnichannel jewellery startup BlueStone made its stock market debut today, listing at a discount of INR 508.80 per share on the BSE, about 1.5% lower than its issue price of INR 517 apiece.
On the NSE, the stock opened at INR 510, registering a 1.3% discount over the IPO price.
The discounted listing was broadly in line with BlueStone’s grey market price on August 18, which stood at INR 0 (meaning no premium over issue price).
As of 9:50 AM, the stock was trading at INR 508.8 on the BSE, and the startup’s market capitalisation stood at INR 7,699.18 Cr at this point.
This debut follows BlueStone’s IPO, which closed on August 13 with an overall oversubscription of 2.7X, led primarily by QIBs. The QIB portion was subscribed 4.28X, while retail investors subscribed 1.35X and NIIs only 55%.
BlueStone’s IPO comprised a fresh issue worth up to INR 1,000 Cr along with an OFS of up to 2.4 Cr shares by existing investors, paving the way for some of its earliest backers to book multifold returns.
(The story will be updated soon.)
The post BlueStone Shares List At 1.5% Discount Over IPO Price appeared first on Inc42 Media.
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