Blue Jet Healthcare IPO: Issue Opens on October 25

Blue Jet Healthcare IPO: Exciting news for investors and stock market enthusiasts! Blue Jet Healthcare, a renowned raw material manufacturing company, is all set to launch its Initial Public Offering (IPO), creating an opportunity for you to become a part of their growth story. Here are all the essential details you need to know:

See Also: Upcoming IPO in India

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Blue Jet Healthcare IPO Dates:

  • IPO Opening Date: October 25, 2023
  • IPO Closing Date: October 27, 2023
  • Anchor Investor Day: October 23, 2023
  • Issue Price & Lot Size Announcement: October 19, 2023

This IPO is unique in that it’s entirely based on an Offer-for-Sale (OFS) mechanism. Blue Jet Healthcare will not issue any fresh shares, and all the proceeds from the IPO will go to the shareholders who are selling their shares.

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Ownership Structure:

The Arora family holds 100 percent ownership of the company, and they are offering 2.4 crore equity shares through this IPO. Half of the issue size is reserved for Qualified Institutional Buyers (QIBs), 15 percent for High Net Worth Individuals (HNIs), and the remaining 35 percent for retail investors.

Merchant Bankers and Registrar:

Kotak Mahindra Capital Company, ICICI Securities, and JP Morgan India are the merchant bankers overseeing the offering. Link Intime India has been appointed as the registrar to the issue.

Blue Jet Healthcare IPO Timeline for Investors:

  • Successful investors can expect the allotment of IPO shares by November 1, 2023.
  • Your equity shares will be deposited in your demat accounts by November 3, 2023.
  • The exciting part for traders – you can start trading Blue Jet Healthcare equity shares on the BSE and NSE from November 6, 2023. This aligns with the T+6 timeline as per the IPO schedule.

About Blue Jet Healthcare:

Blue Jet Healthcare, founded in 1968, has established itself as a Contract Development and Manufacturing Organization (CDMO) with specialized chemistry capabilities across three crucial categories – Contrast Media Intermediates, High-Intensity Sweeteners, and Pharma Intermediates and Active Pharmaceutical Ingredients.

With an impressive track record, Blue Jet serves over 400 customers in 39 countries. Some of its notable clients include GE Healthcare AS, Guerbet Group, Bracco Imaging Spa, Colgate-Palmolive (India), Unilever, Prinova US LLC, and MMAG Company. They have three manufacturing facilities in Maharashtra, serving both domestic and global customers.

Blue Jet Healthcare Financial Performance:

Although the company’s financial performance faced challenges in previous fiscal years, there’s good news. The first quarter of fiscal year 2024 showed substantial improvements. Net profit for the fiscal year ending March 2023 was INR 160 crore, with EBITDA at INR 219 crore. Revenue from operations also increased by 5.5 percent year-on-year to INR 721 crore.

Even better, the quarter ending June 2024 saw a remarkable 58.4 percent year-on-year increase in net profit, reaching INR 44.1 crore, while revenue from operations rose by 24.2 percent to INR 179.5 crore.

As you gear up for the Blue Jet Healthcare IPO, remember to do your due diligence, consider your investment strategy, and consult with financial experts if necessary. Happy investing! πŸš€πŸ“ˆ

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