DiamondBuzz
BlueStone Jewellery Rs 1,541 crore IPO subscribed 66%
BlueStone Jewellery and Lifestyle’s ₹1,541 crore IPO has reached 66% subscription on the final bidding day, with QIBs leading at 85% of their allotted quota.
BlueStone Jewellery and Lifestyle’s Rs 1,541 crore IPO has been subscribed 66% overall as per the latest update on the third and final day of bidding. Among investor segments, Qualified Institutional Buyers (QIBs) have shown relatively stronger interest, having subscribed to 85% of their allotted portion.
BlueStone plans to raise up to Rs 1,541 crore via its IPO, comprising a fresh equity issue of Rs 820 crore and an OFS of 1.39 crore shares by existing investors, including Accel India III, Saama Capital II, Kalaari Capital, Iron Pillar, and Sunil Kant Munjal.
Ahead of the IPO launch, BlueStone secured Rs 693 crore from anchor investors. In the grey market, the response to the issue has been lukewarm, with the IPO trading at a modest premium of just 0.4% over its issue price of Rs 517 per share.
The latest Grey Market Premium (GMP) for BlueStone Jewellery’s IPO is hovering between Rs 2-4 above the issue price of Rs 517 per share. This points to a potential listing price of around Rs 520, implying a modest estimated gain of about 0.4% per share.
DiamondBuzz
CVD Synthetic Fashioned To Imitate A Rough Natural Diamond
The Near-Colorless Stone Is Believed To Be The First Time Creators Of A Synthetic Chemical Vapor Deposition (CVD) Diamond Have Shaped It To Resemble A Rough Diamond
The 6.87-carat near-colorless CVD diamond was shaped to resemble a natural rough octahedral crystal but showed distinct synthetic features under microscopic and spectroscopic analysis.GIA’s tests confirmed the stone’s synthetic origin, noting polishing marks, facet junction roughness, and luminescence patterns inconsistent with natural diamonds.
No evidence currently suggests widespread substitution of synthetics for rough natural diamonds, but existing detection tools could be adapted if such cases increase.
The near-colorless stone is believed to be the first time creators of a synthetic chemical vapor deposition (CVD) diamond have shaped it to resemble a rough diamond, according to an article in the spring issue of the institute’s Gems & Gemology quarterly journal.
Upon investigation with the use of raman spectroscopy, the results confirmed that the material was a diamond, with its near-octahedral shape similar to that of a natural rough crystal. Further analysis showed that it was not a true octahedron, as only one set of opposing faces was parallel. Microscopic observation under differential interference contrast revealed extremely flat faces marked mainly by parallel polishing lines, unlike the growth steps and trigons typically seen on natural octahedral faces. The facet junctions were extremely rough, possibly due to measures taken to improve the color, after which the main faces appear to have been repolished, the institute explained.
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