Blue Pebble IPO subscribed over 56 times on final day led by demand from NIIs, retail investors

Blue Pebble IPO, entirely a fresh issue of 10.8 lakh shares of a face value of ₹10 per share, was booked a whopping 56.39 times on the final day of bidding on Thursday, March 28. The ₹18.14-crore NSE SME issue opened for subscription on March 26.

The public issue garnered total bids for 4,05,15,200 shares against 7,18,400 shares on offer, resulting in 56.39 times bidding, NSE data showed.

Non-institutional buyers (NIBs) booked their IPO quota 98 times, placing bids for 1,50,80,800 shares over 1,54,400 shares available for subscription. In the retail investors category, the issue was bought 58.39 times with bids coming in for 2,09,76,800 shares against 3,59,200 shares set aside under the segment.

Qualified institutional investors (QIBs) oversubscribed their allotted quota by 21.76 times, submitting bids for 44,57,600 shares compared to the 2,04,800 shares offered to them.

The company raised ₹5.13 crore from anchor investors on March 22, 2024.

Of the total issue size, Blue Pebble IPO reserved 18.96% shares for QIBs, 14.30% for NIIs and 33.26% for retail investors.

Another 28.30% was set aside for anchor investors while the company allocated 5.19% shares for market maker, Hem Finlease.

Hem Securities Limited is the book-running lead manager of the IPO. Bigshare Services Pvt Ltd is the registrar to the public offer.

Blue Pebble IPO key details

Blue Pebble IPO price was fixed at ₹159 to ₹168 per share. The minimum lot size to apply for the IPO was set at 800 shares. The retail investors were needed to bid for at least one lot amounting to a minimum investment of ₹1,34,400. For high networth individuals (HNIs), the company fixed the minimum lot size as 2 lots or 1,600 shares.

The IPO shares allotment is expected to be finalised on Monday, April 1. The company will initiate refunds for non-allottees of shares on April 2 and credit shares to successful bidders' Demat accounts on the same day.

The IPO shares will be listed on NSE SME with the tentative listing date fixed as Wednesday, April 3.

About Blue Pebble Limited

Blue Pebble was established in 2017, The company provides services in interior design and environmental branding solutions space. Its services include concept, design, printing, furnishing and installation.

Among its notable service offerings are - vinyl graphics, signatures, 3D walls, glass films, artworks, wall panels, murals and crafts, catering to corporate interior and exterior workplace environments. Its design and printing services cover a wide spectrum from themed designs to large-format printing.

The company's clientele includes leading entities from the banking, MNC and IT sectors such as Infosys, HDFC Bank, American Express, Bank of America, Nasal, British Petroleum and Moody's.

Headquartered in Mumbai, Blue Pebble has a wide presence across several states including Delhi, Maharashtra, Gujarat, Uttar Pradesh, Telangana, Odisha, Madhya Pradesh, Punjab and Tamil Nadu.

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