BlueStone Jewellery & Lifestyle Ltd. initial public offer was subscribed 0.04 times or 4% so far on its first day of bidding on Monday. The company manufactures and sells jewellery under the brand name BlueStone. The company is set to raise over Rs 1,500 crore from the primary market. The IPO will be open for subscription from Aug. 11 to Aug. 13.
The company will use proceeds from the IPO to fund working capital requirements and for general corporate purposes.
BlueStone Jewellery & Lifestyle raised Rs 693 crore from anchor investors on Friday, ahead of its initial public offering. The company allotted 1.34 crore shares at Rs 517 apiece to 20 anchor investors.
