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Business News/ Markets / Ipo/  Blue Jet Healthcare IPO listing date today. GMP, experts see decent debut of shares
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Blue Jet Healthcare IPO listing date today. GMP, experts see decent debut of shares

Blue Jet Healthcare shares will list on BSE and NSE in a special pre-open session during Wednesday deals at around 9:45 am whereas Blue Jet Healthcare shares will become available for trade at 10:00 AM.

Blue Jet Healthcare IPO was subscribed 7.95 times from October 25 to October 27. Premium
Blue Jet Healthcare IPO was subscribed 7.95 times from October 25 to October 27.

Blue Jet Healthcare IPO: Listing date for the initial public offering (IPO) of Blue Jet Healthcare Ltd has been fixed on 1st November, 2023, Wednesday, i.e. today. As per the BSE notice, “effective from Wednesday, November 1, 2023, the equity shares of Blue Jet Healthcare Limited shall be listed and admitted to dealings on the Exchange in the list of 'B' Group of Securities."

Blue Jet Healthcare shares will list on BSE and NSE in a special pre-open session during Wednesday deals at around 9:45 am whereas Blue Jet Healthcare shares will become available for trade at 10:00 AM.

Blue Jet IPO received decent response from investors across all categories. Most analysts had issued ‘Subscribe’ rating to the IPO of the specialty pharmaceutical company considering its strong business prospects, healthy return ratios, forward integration, greenfield expansion plans and promising industry outlook.

Also Read: Mish Designs IPO: Check GMP, subscription status on day 1, other key details

Blue Jet Healthcare IPO was subscribed 7.95 times from October 25 to October 27. The public issue received 2.24 times subscription in the retail category, 13.72 times in Qualified Institutional Bidders’ (QIB) category, and 13.59 times in the Non-Institutional Investors’ (NII) category.

Stock market experts said that Blue Jet Healthcare IPO listing price would be around 366 to 368 and an allottee can expect up to 6% listing gain on Blue Jet Healthcare listing date.

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Blue Jet Healthcare IPO listing price prediction

Shivani Nyati, Head of Wealth, Swastika Investmart Ltd. believes Blue Jet Healthcare shares may see flat to positive listing

“Blue Jet Healthcare IPO GMP is currently at 20, which indicates a decent listing. Based on the IPO's upper price band of 346, the estimated listing price of Blue Jet Healthcare shares is 366, which is a premium of around 5 to 6%. The issue was subscribed 7.95 times," said Nyati.

The company manufactures contrast media intermediates and high-intensity sweeteners where it has the benefit of high entry barriers and a long-term relationship with multinational customers, she added.

“Given the current GMP and the market's sentiment, it is likely that Blue Jet Healthcare may witness a flat to positive listing," said Nyati.

Also Read: Blue Jet Healthcare IPO allotment: Check latest GMP, here's how to check allotment status

Avinash Gorakshkar, Head of Research at Profitmart Securities expects Blue Jet IPO may have a moderate listing as the public issue received below par response from investors due to weak stock market sentiments.

“Apart from this, the public issue is completely OFS that is also expected to hit fancy of post-listing investors," Gorakshkar said.

Prashant Tapse, Senior Vice President, Mehta Equities advises conservative investors who have been allotted Blue Jet Healthcare shares in the IPO to book profits on listing day.

He believes despite having a niche product portfolio, investors subscription demand was lower than the street expectations mainly due to muted market conditions and investors were also concerned as the issue was purely a secondary offer (OFS) with no funds coming in as growth capital to the company.

Also Read: Mamaearth IPO closes with lukewarm response on day 1; issue subscribed 13%

“On valuation parse at upper price band of 346, the issue was fully priced-in all near term triggers and considering the ongoing market momentum and lower than expected subscription demand, we expect a flat listing around 2-5% premium on the issue price," Tapse said. 

Hence he believes the listing premium is justified considering the market scenario.

“We advise conservative allotted investors to look to book decent profits on listing day while those who wish to buy more should wait and watch the market to settle considering decent long term industry rationales," he added.

Blue Jet Healthcare IPO GMP Today

As per the market observers, Blue Jet Healthcare IPO grey market premium (GMP) today is 22 per share, which means the grey market is expecting that Blue Jet IPO listing price would be around 368 ( 346 + 22), which is around 6.36% higher from Blue Jet Healthcare IPO price band of 329 to 346 per equity share.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

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Published: 01 Nov 2023, 06:28 AM IST
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