Blue Pebble Ltd

About the Company:

Blue Pebble Ltd (Established in 2017) provides spatial design and bespoke environmental branding solutions.

Company provide a comprehensive range of services encompassing conceptualization, design, printing, furnishing, and installation of Vinyl graphics, signage, and different furnishing products, including but not limited to 3D walls, frost/clear glass films, artifacts, wall panels, wall murals, sculptures for corporate interiors and exterior workplace environments.

Company’s solutions are custom tailored to meet the unique requirements of each client.

Company’s clientele spans across diverse industry sectors, including banks, multinational corporations (MNCs), IT etc.

Over the years, company has successfully executed design, printing, furnishing, installation, and related projects at various locations throughout India, serving notable clients such as Infosys Ltd, HDFC Bank Ltd, American Express, Bank of America, Nestle, British Petroleum, Moody’s etc.

Company provides a wide range of printing and designing services, including theme-based designs, large format printing, vinyl printing, fabric printing, canvas printing, signage manufacturing, and 3D art installation.

Company also deal in sourcing and installation of curios, sculpture and artisanal hand paintings.

Company’s current order book value stands at Rs. 17.81 crores, covering designing, printing, and installation of graphics, 3D elements, vinyl, wall panels, glass films, sculptures, wall murals, and interior and exterior products.



Company’s Portfolio of Offerings:

  • Enviornmental Branding.
  • Graphics and Signage.
  • Wall Arts , Frames and Hand Painting.
  • 3D Installations.
  • Soft Furnishings.
  • Design Consultancy.




Company has done work for following Clients:

Infosys ICICI Bank HDFC Bank Nestle
Barclays Kotak Mahindra Bank Bank of America BNP Paribas
MOODY’S British Petroleum Ambience Interiors Pvt Ltd Accenture





Service-wise-revenue break up:



Company’s Branch Network:

Company operates from office situated at Mumbai and have expanded the presence and network to different parts of the country, taking on projects in various regions, including Delhi, Maharashtra, Gujarat, Utter Pradesh, Telangana, Odisha, Madhya Pradesh, Punjab, Tamilnadu etc.



Company’s Sales and Marketing:

With respect to client acquisition process, Company has strong relationship with its clients who have been associated with the Company for a long period.

Company’s Sales team is constantly in touch with all the leading Architects for the projects they are currently doing and projects in pipeline.

In addition, many contractors keep sending their requirement for new projects via BOQ, which gets converted in new orders.

Major share of business also comes as repeat business from Company’s regular clients as they go for capacity increase or new premises for their future business expansion.

Over the years, the Company have developed its skills set and capabilities, which helps in attracting new business on its own, alongwith the presence on the social media helps in getting new business proposals from companies to Architects to Contractors.



Details of Projects Undertaken by the Company: (in Lakhs) 



Management Team:

  1. Mr. Nalin Gagrani (Designation: Chairman & Managing Director)
  2. Mr. Manoj Bhushan Tiwari (Designation: Whole Time Director & CFO)





Objectives of the Issue:

Fresh Issue: (Rs.18.14 cr)

  • Funding Capital Expenditure towards installation of additional machinery.
  • To meet working capital requirements.
  • General Corporate Purpose.



Fund Utilization:

Particulars Amount (Rs. in Crores)
Funding Capital Expenditure towards installation of additional machinery 4.93 cr
To meet incremental Working Capital requirements 6.55 cr




Peer Group Comparison:

There are no listed companies in India that are engaged in the business line similar to that of Blue Pebble Ltd thus it is not possible to provide an industry comparison in relation to the company.



Positives for the Company:

Established relationship with our customers.

  • Company specializes in providing services related to the conceptualization, design, printing, furnishing, and installation of a wide range of interior and workplace elements, including wallpaper, graphics, signage, and various furnishing products.
  • Over the years, company has successfully developed enduring relationships with a diverse client base, which includes entities such as banks, IT companies, multinational corporations (MNCs)etc. Based on our work, company developed an established relationship with them which has helped in getting repeated business.
  • Company believes that the existing relationship with clients represents a competitive advantage in gaining new clients and increasing the business.



Widening the customer base geographically.

  • A key strategy for increasing and growing the business is to increase the strength of relationship with existing customers, reaching out for new customers & widen thecustomer base.
  • Company’s strategy is to widen thecustomer base geographically as well as demographically.





Financials of the Company:

(in Crores) FY 21 FY 22 FY 23 Upto 30th Sept 23
Revenue 4.21 5.48 15.94 13.22
Net Profit 0.20 0.38 2.0 2.91




IPO Details:

Details Info
Issue Opens on 26th March 2024
Issue Closes on 28th March 2024
Issue Price Rs.159-168
Face Value Rs.10
Minimum Lot 800 Shares
Minimum Investment Rs.1,34,400
Issue Constitutes 26.47 %
Issue Size Rs. 18.14 cr 
Market Cap Rs. 68.5 cr 
Listing at NSE SME
Equity Shares Offered (Fresh) 10,80,000 (Rs.18.14 cr)
Equity Shares Prior to the Issue 30,00,000
Equity Shares after the Issue 40,80,000

Also Read : List of Upcoming IPO’s in India.
Also Read: List of Upcoming SME IPO’s in India.



Important Dates:

Finalization of Basis of Allotment on or Before 1st April 2023
Initiation of Refunds on or Before 2nd April 2023
Credit of Equity Shares: on or Before 2nd April 2023
Listing Date: on or Before 3rd April 2023


IPO Valuation Parameters:

Earnings Per Share (EPS) Price To Earnings ratio (PE) Return on Net Worth (RoNW) Net Asset Value (NAV)
6.68 25.14 63.72% 10.48


Company Contact Info:
Blue Pebble Ltd
B-1201, Titanium Towers, Opp. Star Bazar,
Nr. D N Nagar Metro Station,
Andheri West, Mumbai,
Maharashtra, India, 400053
Tel No: +91- 9820132955


Registrar to the Issue:
Bigshare Services Private Limited
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre,
Mahakali Caves Road, Andheri (East)
Mumbai – 400093, Maharashtra, India.
Telephone: +91 22 6263 8200



Lead Manager to the Issue:
904, A Wing, Naman Midtown,
Senapati Bapat Marg,
Elphinstone Road, Lower Parel,
Mumbai-400013, Maharashtra, India
Tel. No.: +91- 22- 49060000;


Check IPO Allotment Status: