Blue Pebble IPO Subscribed Over 4.83 Times on First Day

Blue Pebble IPO Subscribed Over 4.83 Times on First Day/Pixabay

VoM News Desk | March 26, 2024 | 10:54 PM IST | Breaking News | Follow on Google News

Blue Pebble IPO Subscribed Over 4.83 Times on First Day

Blue Pebble IPO Subscribed Over 4.83 Times on First Day

Blue Pebble, an interior design and environmental branding solutions provider, launched its initial public offering (IPO) on March 26. The SME, known for its comprehensive services ranging from conceptualization to installation of vinyl graphics, signage, and furnishing products, witnessed strong demand on the first day.

Subscription Details

The IPO comprises 1,080,000 shares, with allocations to various investor categories. On the first day, it received overwhelming response, with the subscription reaching over 4.83 times. Retail investors, QIBs, and NIIs showed significant interest, with a total of 37,36,800 share applications.

Offering Details and Listing Plans

Blue Pebble aims to raise over ₹18.14 crores through the issuance of 10.80 lakh new shares, priced between ₹159 to ₹168 per share. The IPO is scheduled to list on NSE Emerge on April 3, 2024. Proceeds will be used for capital expenditure, working capital, and corporate purposes.

GMP Analysis

The grey market premium (GMP) for Blue Pebble IPO stood at ₹45, indicating shares trading at the issue price. Analysts estimate a listing price of ₹213, representing a 26.70% increase over the IPO price.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.