Blue Star shares clock 52-week high post-QIP launch

Blue Star share price BSE: Shares of Blue Star zoomed as much as over 18 per cent on Wednesday, September 20, to hit a fresh 52-week high of Rs 945.8 on the BSE, surpassing their earlier 52-week high of Rs 1,554.4, touched on June 14, 2023, after the company launched a qualified institutional placement (QIP) issue to raise funds. Blue Star shares finished at Rs 907.05, up by Rs 107.05 or 13.38 per cent on BSE. Blue Star has approved the floor price for the QIP at Rs 784.55 per share, reflecting a 2 per cent discount to Monday's closing price of Rs 800.05.

The executive management committee of the company will hold a meeting on September 22, Monday to consider the issue price. "We further wish to inform you that the Executive Management Committee has fixed the ‘relevant date’ for the purpose of the Issue, in terms of Regulation 171 of the SEBI ICDR Regulations, as Monday, September 18, 2023, and accordingly the floor price in respect of the Issue has been determined, based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations, as ₹ 784.55 per Equity Share," the company's regulatory filing read.

Here's how the stock moved during the intra-day session: 

Source: BSE

Blue Star share price history

Blue Star has rewarded investors with a return of nearly 70 per cent in the past one year (September 21, 2022), a period in which the headline Nifty index has risen over 12 per cent.

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