Blue Jet Healthcare IPO opens on October 25, price band set at ₹329-346 apiece

Blue Jet Healthcare IPO opens for subscription on Wednesday, October 25, and closes on Friday, October 27. The allocation to anchor investors for Blue Jet Healthcare IPO is scheduled to take place on Monday, October 23. Blue Jet Healthcare IPO price band has been fixed in the range of ₹329 to ₹346 per equity share of face value of ₹2. The price to earnings ratio of the company is 37.49 at the upper band.

Blue Jet Healthcare IPO floor price is 164.50 times the face value of the equity shares and the cap price is 173 times the face value of the equity shares. The price to earning ratio based on diluted earnings per share (EPS) for fisal 2023 at the floor price is 35.64 times at the cap price is 37.49 times. Blue Jet Healthcare IPO lot size is 43 equity shares and in multiples of 43 equity shares thereafter.

Blue Jet Healthcare IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors.

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Blue Jet Healthcare IPO details

Blue Jet Healthcare IPO is completely a offer for sale (OFS) of 24,285,160 equity share; there is no fresh issue component, according to Red Herring Prospectus (RHP). Blue Jet Healthcare IPO size is ₹840.27 crore.

The company's promoters are Shiven Akshay Arora, Akshay Bansarilal Arora, and Archana & Akshay Arora.

Shiven Akshay Arora will sell up to 5,918,849 equity shares, while Akshay Bansarilal Arora will sell up to 18,366,311 equity shares.

There are no listed companies in India that engage in a business similar to that of Blue Jet Healthcare, said the company in its RHP.

The book running lead managers for the Blue Jet Healthcare IPO are Kotak Mahindra Capital Company Limited, ICICI Securities Limited, and J.P. Morgan India Private Limited. The registrar for the offering is Link Intime India Private Ltd.

Blue Jet Healthcare is an intermediary company that provides pharmaceutical and healthcare ingredients. In India, Blue Jet Healthcare was the pioneer in producing saccharin and its derivatives, or artificial sweeteners.

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Blue Jet Healthcare branched out into contrast medium intermediates, which are utilised in MRI and CT examinations. The company primarily sells products in three categories: active pharmaceutical components and pharma intermediates, high-intensity sweeteners, and contrast media intermediates.

Between March 31, 2022, and March 31, 2023, Blue Jet Healthcare Limited's profit after tax (PAT) decreased by 11.88% while its revenue climbed by 5.98%, as per reports. 

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Blue Jet Healthcare IPO GMP today

Blue Jet Healthcare IPO GMP or grey market premium is +85. This indicates Blue Jet Healthcare share price were trading at a premium of ₹85 in the grey market on Thursday, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Blue Jet Healthcare share price was indicated at ₹431 apiece, which is 24.57% higher than the IPO price of ₹346.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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