Blue Jet Healthcare IPO Opens Today: Know Price Band, GMP, Important Dates And Other Details Here

The initial public offering (IPO) of Rs 840.27 crore Blue Jet Healthcare will open for subscription today. The price band of the public issue has been set at Rs 329-346 per share. The three-day Blue Jet Healthcare IPO will conclude on October 27. This means that the last day to place bids for the issue is Friday.

The Maharashtra-based pharma company is looking to raise Rs 840.27 crore via the public issue.

Ahead of the IPO launch, the specialty pharmaceutical and healthcare ingredients developer Blue Jet Healthcare has raised Rs 252 Crore through an anchor Book from 22 anchor investors on October 23.

In an exchange filing, the company said it has finalized the allocation of 72,85,548 equity shares at Rs 346 per piece.

The IPO of Blue Jet Healthcare is a complete offer-for-sale (OFS) of over 2.4 crore equity shares by promoters and does not include a fresh issue component.

Ahead of the issue opening, Blue Jet Healthcare IPO GMP indicates a strong listing at a premium of Rs 85 in the unlisted market.

Key Details You Should Know About Blue Jet Healthcare IPO

Important Dates:

The offer will open for subscription on October 25 and conclude on October 27. The shares of the company are likely to be listed on the NSE and BSE on November 6, though the date is not confirmed yet. The anticipated date for finalization of share allocation is November 1, 2023.

Blue Jet Healthcare IPO GMP today

According to market observers, Blue Jet Healthcare IPO GMP or grey market premium is Rs 85. This indicates Blue Jet Healthcare shares were trading at a premium of Rs 85 in the grey market. Considering the upper end of the price band and the current premium in the grey market, the estimated listing price of Blue Jet Healthcare share price was indicated at Rs 431 apiece, up almost 23% compared to the IPO price of Rs 346.

Company Profile:

Blue Jet Healthcare is a science-led, pharmaceutical company that evolved as a Strategic Partner for the Collaboration, Development, and manufacturing of advanced Pharmaceutical Intermediates and APIs.
In the first quarter of FY24, Blue Jet Healthcare's total income rose 24% year-on-year (YoY) to Rs 185 crore, while net profit surged 58% to Rs 44.1 crore.

Utilization of IPO Proceeds

Since the issue is an OFS and does not include any fresh issue component, the IPO proceeds will go to the selling shareholders, and the company is not entitled to receive any money from the offer.

Lot size

Investors are allowed to place bids for a minimum of 43 equity shares and in multiples of 43 thereafter. The minimum amount a retail investor can invest is Rs 14,147. At the upper end of the price band, the bidding amount will rise to Rs 14,878.

Listing of Blue Jet Healthcare IPO Shares:

Shares of Blue Jet Healthcare are likely to list on the NSE and BSE on November 6. However, the listing date is not finalized as an official announcement in this regard is awaited.