Blue Pebble Ltd IPO: Review, Valuation, Date & GMP

Blue Pebble Limited IPO  - Complete Overview

Established in 2017, Blue Pebble Limited specializes in providing spatial design and customized environmental branding solutions. 

The company offers a wide array of services, including conceptualization, design, printing, furnishing, and installation of Vinyl graphics, signage, and various furnishing products such as 3D walls, glass films, artefacts, wall panels, and sculptures, tailored for corporate interiors and exterior workplace environments. 

Serving a diverse clientele across industries including banks, multinational corporations, and IT sectors like Infosys Limited, HDFC Bank Limited, American Express, and Nestle, among others, Blue Pebble has successfully executed over 20 projects in the past three years. 

With its headquarters in Mumbai, the company has expanded its footprint to Delhi, Maharashtra, Gujarat, Uttar Pradesh, Telangana, Odisha, Madhya Pradesh, Punjab, Tamil Nadu, and more.

Blue Pebble's accolades include receiving the "Most Creative & Innovative Design Agency" award from Design Awards India in 2022 and being recognized as "India's Best Design Studio" by IBDA in 2023. 

Additionally, the company was honored with an architecture and interior design award by Beginup Research Intelligence Pvt Ltd. in 2022.

 

Blue Pebble Limited IPO Overview

Blue Pebble Limited IPO date is slated to be open for subscription from March 26, 2024, to March 28, 2024. This NSE SME IPO follows a Book Built Issue IPO.

Blue Pebble Limited IPO price is set in the range of Rs.159 to Rs.168 per share. 

The total issue size of this IPO amounts to Rs.18.14 Cr. The company has allocated 35% to retail investors, 50% to institutional and 15% to non-instituional investors.

 

Company Financial

Compared to previous financial years, Blue Pebble Limited has seen growth in total assets, net worth, and total revenue. The profit after tax has increased while the total borrowing decreased.

(Amount in Lakhs)

Period	30 Sep 2023	31 Mar 2023	31 Mar 2022
Total Assets	934.35	876.36	342.62
Total Revenue	1,322.68	1,594.96	548.14
PAT	291.78	200.33	38.05
Net worth	606.17	314.39	114.06
Reserve & Surplus	306.17	313.39	113.06
Total Borrowings	27.28	37.20

 

Service-wise-revenue break up 

(Amount in Lakhs)

Particulars	30 Sep 2023	31 Mar 2023	31 Mar 2022
Environmental Branding Solutions,which Covers Design of Workplaces,Supply and Installation of Graphics, Wallpapers & Signages	1,002.76	1,008.92	402.86
Supply & Installation of Graphics & Signage	177.56	399.60	17.32
Supply & Installation of Wall Arts, Frames, and Hand Painting	21.36	39.96	7.87
3D Installation	9.92	24.98	-
Soft Furnishing	6.87	34.97	6.30
Design Services	99.61	84.07	113.50
Total Sales	1,318.08	1,592.49	547.85

 

The Objective of the Issue

The company intends to utilize the proceeds from the Issue to achieve the following objectives:

1) Funding Capital Expenditure for the installation of additional machinery.

2) Meeting working capital requirements.

3) Addressing General Corporate Purposes.

 

 

Peers of Blue Pebble Limited IPO

According to the Blue Pebble DRHP, there are no listed companies in India involved in a business line similar to that of the company.

 

Evaluation

The IPO is priced within the range of Rs.159 to Rs.168 per share.

Evaluation of P/E Ratio

• Considering the FY23 EPS of Rs 6.68 from the last year, the resulting P/E ratio is 25.16x.

• Taking into account the weighted EPS of Rs 3.87 for the last three years, the P/E ratio amounts to 43.41x.

Comparative Analysis with Listed Peers

• There is no peer of the company.

 

IPO's Strengths 

• Established customer relationships.

• Qualified and experienced management team.

• Established partnerships with material suppliers.

• Proficient in designing and executing capabilities.

 

IPO weaknesses 

• Any increase in costs or shortage of raw materials procured by the company could affect its operations.

• The company needs specific approvals or licenses as part of its regular business operations.

• The company has experienced negative net cash flows.

• Legal proceedings involve the promoters and directors of the company.

• The company has faced difficulties in adhering to the designated deadlines for filing employee provident fund returns.

 

 

IPO GMP Today 

The latest GMP of Blue Pebble Limited  is Rs.15.

 

Blue Pebble Limited IPO timetable (Tentative)

Blue Pebble Limited IPO is scheduled from March 26 to March 28, 2024, with allotment on April 1, refund initiation on April 2, and listing on April 3, 2024.

Events	Date
IPO Opening Date	March 26, 2024
IPO Closing Date	March 28, 2024
IPO Allotment Date	April 1, 2024
Refund initiation	April 2, 2024
IPO Listing Date	April 3, 2024

 

Blue Pebble Limited IPO Details 

Blue Pebble Limited IPO, with a face value of Rs.10 per share, opens on March 26 and closes on March 28, 2024, offering 1,080,000 shares at Rs.159 to Rs.168 per share, with a lot size of 800 shares, aiming to raise Rs.18.14 Cr, and will be listed on NSE SME.

IPO opening & closing date	March 26, 2024 to March 28, 2024
Face value	?10 per share
Issue Price	?159 to ?168 per share
Lot Size	800 Shares
Price of 1 lot	?134,400
Issue Size	1,080,000 shares (aggregating up to ?18.14 Cr)
Fresh issue	1,080,000 shares (aggregating up to ?18.14 Cr)
Listing at	NSE SME
Issue Type	Book Built Issue IPO
Registrar	Bigshare Services Pvt Ltd

Blue Pebble Limited IPO Lot Details 

For Blue Pebble Limited IPO, the retail investor minimum and maximum lot investments are both 1 lot (800 shares) at Rs.134,400 while for HNI investors, the minimum investment is 2 lots (1600 shares) at Rs.268,800.

Minimum Lot Investment (Retail)	1 lot
Maximum Lot Investment (Retail)	13 lot
Minimum Lot Investment (HNI)	2 lot

 

 

Blue Pebble Limited IPO Reservation

Institutional share Portion	50%
Non-institutional share Portion	15%
Retail share Portion	35%

 

Promoters and Management of Blue Pebble Limited

• Nalin Gagrani

• Karuna Nalin Gagrani

• Manoj Bhushan Tiwari.

Pre-issue Promoter shareholding	100.00%
Post-issue Promoter shareholding	73.52%

 

Blue Pebble Limited IPO Lead Managers

• Hem Securities Limited 
  
  

Dividend Policy

The company has not distributed any dividends in previous years, and the potential for future dividend payments hinges on the financial performance of the company.

 

 

Conclusion

Blue Pebble Company, with its focus on spatial design and bespoke environmental branding solutions, presents a promising opportunity for investment in its upcoming IPO. The company boasts a robust order book value, indicating a healthy pipeline of projects. Investors are advised to carefully analyze all relevant factors before bidding for the issue.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

 

To Read the Prospectus of the Company Click Here to Download the DRHP.

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