Comments
The ₹840.27-crore Blue Jet Healthcare IPO will open for subscription today and close on October 27. The IPO price band has been fixed in the range of ₹329 to ₹346 of face value of ₹2. Investors can bid for a minimum of 43 equity shares
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). 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. The proceeds will go to the selling shareholders and the company will not get any money from the offer.
Blue Jet Healthcare has raised ₹252.08 crore from an anchor book process ahead of IPO. The company has completed the allocation of 7,285,548 shares to these anchor investors, at ₹346 a share.
Among the anchor investors included ICICI Prudential Funds, HDFC Mutual Fund, Nippon Life India, Aditya Birla Sun Life Insurance, Government Pension Fund Global, HSBC Global Investment Funds, Edelweiss Trusteeship, and BNP Paribas.
Blue Jet Healthcare follows a contract development and manufacturing organisation (CDMO) business model, operating in three product categories— contrast media intermediates, high-intensity sweeteners and pharma intermediates & active pharmaceutical ingredients (APIs), the company has said.
- Also Read: Favorable market conditions, liquidity push 139 SMEs to mobilise ₹3,540 cr via IPO in 2023
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.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.