The company's board approved the opening of the issue on Monday, 18 September 2023.

The floor price of Rs 784.55 is at a discount of 1.93% to Monday's closing price of Rs 800 on the BSE.

The company may at its discretion offer a discount of not more than 5% on the floor price for the issue.

The issue price will be determined by the company in consultation with the book running lead manager appointed for the issue.

The company also informed that a meeting meeting of the executive management committee is scheduled to be held on Friday, 22 September 2023, to consider and approve the issue price of the equity shares.

Blue Star is an air-conditioning and commercial refrigeration company. The company conducts various activities, such as electrical, plumbing and fire-fighting services. Its segments include electro-mechanical projects and packaged air conditioning systems, and unitary products.

The air conditioning and commercial refrigeration firm reported 12.3% rise in consolidated net profit to Rs 83.35 crore on 12.6% increase in revenue from operations to Rs 2,226 crore in Q1 FY24 over Q1 FY23.