Blue Pebble IPO: Issue subscribed over 52 times on day 3, check subscription status, GMP and other details

Interior design and environmental branding solutions provider Blue Pebble initial public offerings (IPO) opened for subscription on March 26. The small and medium enterprise (SME) was subscribed over 52 times on the third day of subscription.

The company specializes in offering comprehensive services encompassing conceptualization, design, printing, and installation of vinyl graphics, signage, and a variety of furnishing products. These products range from 3D walls, frost/clear glass films, and artifacts to wall panels, murals, and sculptures, tailored for both corporate interiors and external workplace environments. 

The Blue Pebble IPO comprises 1,080,000 shares, with 204,800 (18.96%) allocated to Qualified Institutional Buyers (QIB), 154,400 (14.30%) to Non-Institutional Investors (NII), 359,200 (33.26%) to Retail Individual Investors (RII), and 305,600 (28.30%) to Anchor investors.

Also read: Blue Pebble IPO: Here's date, price band, size and other key details

Blue Pebble IPO subscription status

Blue Pebble IPO was subscribed over 52 times on the final day of subscription. The SME IPO received 4,05,15,200 share applications on Thursday, according to data available on the stock exchange.

The retail portion received 2,09,76,800 applications, meanwhile, QIB and NII received 44,57,600 and 1,50,80,800 share applications respectively, on the second day of bidding.

Blue Pebble IPO details

The SME IPO plans to raise over ₹18.14 crores through the issuance of 10.80 lakh new shares. 

The company has set a price range of ₹159 to ₹168 per share for its forthcoming small and medium enterprise (SME) IPO. Retail investors are required to invest a minimum of ₹1.344 lakh, corresponding to the minimum lot size of 800 shares per application.

Also read: Trust Fintech IPO: SME issue subscribed 3.34 times on day 1; check subscription status, GMP, other details

Blue Pebble IPO shares are scheduled to be listed on the NSE Emerge, with an anticipated listing date of Wednesday, April 3, 2024.

The proceeds from the issue will be allocated towards funding capital expenditure for the installation of additional machinery, meeting working capital needs, and supporting general corporate purposes.

Hem Securities Limited serves as the book running lead manager for the Blue Pebble IPO, with Bigshare Services Pvt Ltd appointed as the registrar handling the issue.

Blue Pebble IPO GMP today

Blue Pebble IPO GMP or grey market premium dropped to ₹15, according to investorgain.com.

Also read: Bharti Hexacom IPO: Company explains the reason for reducing the issue size

According to analyst at investorgain.com, the lowest GMP of Blue Pebble IPO is ₹15, while the highest GMP is ₹50. This means that the estimated listing price is ₹183, which is 8.93 per cent more than the IPO price of ₹168.

'Grey market premium' indicates investors' readiness to pay more than the issue price.