NSE SME Blue Pebble makes a splash on debut

Shares of Blue Pebble were quoting at Rs 208.95 on the NSE, a premium of 24.38% compared with the issue price of Rs 168.

The scrip was listed at Rs 199, a premium of 18.45% compared with the initial public offer (IPO) price. The stock is currently stuck at an upper limit of 5% over its listing price.

The counter hit a high of Rs 208.95 and a low of Rs 189.05. About 5.02 lakh shares of the company changed hands at the counter.

Blue Pebble's IPO was subscribed 37.51 times. The issue opened for bidding on 26 March 2024 and it closed on 28 March 2024. The price band of the IPO was fixed at Rs 159 to Rs 168 per share.

The IPO comprised fresh issue of 10,80,000 equity shares. The promoter and promoter shareholding diluted to 73.52% from 100% pre-IPO.

The company intends to utilise the net proceeds to meet working capital requirements, funding capital expenditure towards installation of additional machinery and general corporate purpose.

Ahead of the IPO, Blue Pebble on 22 March 2024, raised Rs 5.13 crore from anchor investors. The board allotted 3.05 lakh shares at Rs 168 per share to 3 anchor investors.

Blue Pebble provides a wide range of printing and design services, including theme-based designs, large format printing, vinyl printing, fabric printing, canvas printing, signage manufacturing, and 3D art installation. It also deals in sourcing and installation of curios, sculptures, and artisanal hand paintings. The firm's expertise extends to designing and printing signage components aimed at enhancing workspace functionality, efficiency, and aesthetics. The company's clientele spans across diverse industry sectors, including banks, multinational corporations (MNCs), and IT. As of 30 September 2023, the company has 34 full-time employees.

The company recorded revenue from operations of Rs 13.18 crore and net profit of Rs 2.92 crore for the period as on 30 September 2023.

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