BlueStone shares worth ₹513 crore change hands in block deal; stock in focus


Shares of BlueStone Jewellery and Lifestyle Ltd. will be in focus on Thursday, September 24, as a large trade took place in a pre-market block window.

According to data available, as many as 61.98 lakh shares of the company changed hands in the block deal. The number of shares that changed hands amount to 4.1% of the total outstanding equity of BlueStone.

Shares changed hands at an average price of ₹827 per share, implying a total transaction value of ₹513 crore.

CNBC TV18 had earlier reported Accel India III (Mauritius) Ltd and 360 ONE AAM Funds are the selling shareholders.

The floor price has been set at ₹800 per equity share, representing a 6.5% discount to the stock’s previous close.

The offer represents 5.6% of the company’s total equity, amounting to ₹728.5 crore.

The sellers will be subject to a 60 day lock in period before they can sell any further shares.Bluestone Jewellery and Lifestyle Ltd. shares ended 8.64% lower on Wednesday at ₹850. The stock has rallied nearly 80% so far this year.



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