Blue Jet Healthcare IPO is a book built issue of Rs 840.27 crores. The issue is entirely an offer for sale of 2.43 crore shares.
Blue Jet Healthcare IPO bidding started from October 25, 2023 and ended on October 27, 2023. The allotment for Blue Jet Healthcare IPO was finalized on Monday, October 30, 2023. The shares got listed on BSE, NSE on November 1, 2023.
Blue Jet Healthcare IPO price band is set at ₹329 to ₹346 per share. The minimum lot size for an application is 43 Shares. The minimum amount of investment required by retail investors is ₹14,878. The minimum lot size investment for sNII is 14 lots (602 shares), amounting to ₹208,292, and for bNII, it is 68 lots (2,924 shares), amounting to ₹1,011,704.
Kotak Mahindra Capital Company Limited, ICICI Securities Limited and J.P. Morgan India Private Limited are the book running lead managers of the Blue Jet Healthcare IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Blue Jet Healthcare IPO RHP for detailed information.
Blue Jet Healthcare IPO Details
| IPO Date | October 25, 2023 to October 27, 2023 |
| Listing Date | November 1, 2023 |
| Face Value | ₹2 per share |
| Price Band | ₹329 to ₹346 per share |
| Lot Size | 43 Shares |
| Total Issue Size | 24,285,160 shares (aggregating up to ₹840.27 Cr) |
| Offer for Sale | 24,285,160 shares of ₹2 (aggregating up to ₹840.27 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 173,465,425 |
| Share holding post issue | 173,465,425 |
Blue Jet Healthcare IPO Reservation
Blue Jet Healthcare IPO offers 24,285,160 shares. 4,857,032 (20.00%) to QIB, 3,642,774 (15.00%) to NII, 8,499,806 (35.00%) to RII and 7,285,548 (30.00%) to Anchor investors. 197,669 RIIs will receive minimum 43 shares and 2,017 (sNII) and 4,034 (bNII) will receive minimum 602 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 7,285,548 (30.00%) | NA |
| QIB Shares Offered | 4,857,032 (20.00%) | NA |
| NII (HNI) Shares Offered | 3,642,774 (15.00%) | |
| bNII > ₹10L | 2,428,516 (10.00%) | 4,034 |
| sNII < ₹10L | 1,214,258 (5.00%) | 2,017 |
| Retail Shares Offered | 8,499,806 (35.00%) | 197,669 |
| Total Shares Offered | 24,285,160 (100%) |
Blue Jet Healthcare IPO Anchor Investors Details
Blue Jet Healthcare IPO raises Rs 252.08 crore from anchor investors. Blue Jet Healthcare IPO Anchor bid date is October 23, 2023. Blue Jet Healthcare IPO Anchor Investors list
| Bid Date | October 23, 2023 |
| Shares Offered | 7,285,548 |
| Anchor Portion Size (In Cr.) | 252.08 |
| Anchor lock-in period end date for 50% shares (30 Days) | December 13, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | March 7, 2024 |
Blue Jet Healthcare IPO Timeline (Tentative Schedule)
Blue Jet Healthcare IPO opens on October 25, 2023, and closes on October 27, 2023.
| IPO Open Date | Wednesday, October 25, 2023 |
| IPO Close Date | Friday, October 27, 2023 |
| Basis of Allotment | Monday, October 30, 2023 |
| Initiation of Refunds | Tuesday, October 31, 2023 |
| Credit of Shares to Demat | Tuesday, October 31, 2023 |
| Listing Date | Wednesday, November 1, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 27, 2023 |
Blue Jet Healthcare IPO Lot Size
Investors can bid for a minimum of 43 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 43 | ₹14,878 |
| Retail (Max) | 13 | 559 | ₹193,414 |
| S-HNI (Min) | 14 | 602 | ₹208,292 |
| S-HNI (Max) | 67 | 2,881 | ₹996,826 |
| B-HNI (Min) | 68 | 2,924 | ₹1,011,704 |
| Lot Size Calculator |
Blue Jet Healthcare IPO Promoter Holding
Akshay Bansarilal Arora, Shiven Akshay Arora and Archana & Akshay Arora are the promoters of the company
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue | 86% |
About Blue Jet Healthcare Limited
Incorporated in 1968, Blue Jet Healthcare is a pharmaceutical and healthcare ingredient and an intermediate company. Blue Jet Healthcare was the first manufacturer of saccharin and its salts (artificial sweeteners) in India. They later expanded into contrast media intermediates, which are used in CT scans and MRIs. The company mainly deals in three product categories: (i) contrast media intermediates, (ii) high-intensity sweeteners, and (iii) pharma intermediates and active pharmaceutical ingredients.
Blue Jet Healthcare is a global, science-led pharmaceutical company. They are the provider of:
- Process development and production capabilities
- Global regulatory support
- Collaboration, development, and manufacturing of advanced pharmaceutical intermediates and API.
The company has three manufacturing facilities, which are situated in Shahad (Unit I), Ambernath (Unit II) and Mahad (Unit III) in the state of Maharashtra, India, with an annual installed capacity of 200.60 KL, 607.30 KL and 213.00 KL, respectively, as of June 30, 2023.
Company’s core strength lies in the following
- Huge manufacturing capacity of contrast media intermediates in India.
- The company operates in a niche market that has high entry barriers.
- Long-term relationships and long term contracts with multi-national customers.
Blue Jet Healthcare Limited Financial Information (Restated Standalone)
Blue Jet Healthcare Limited’s revenue increased by 5.98% and profit after tax (PAT) dropped by -11.88% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 903.80 | 862.07 | 713.38 |
| Revenue | 184.60 | 744.94 | 702.88 |
| Profit After Tax | 44.12 | 160.03 | 181.59 |
| Net Worth | 725.68 | 681.49 | 521.54 |
| Reserves and Surplus | 690.99 | 646.79 | 486.85 |
| Total Borrowing | |||
| Amount in ₹ Crore |
Key Performance Indicator
Blue Jet Healthcare IPO Market Cap is Rs 6001.9 Cr and P/E (x) is 37.49.
| KPI | Values |
|---|---|
| P/E (x) | 37.49 |
| Post P/E (x) | 34.02 |
| Market Cap (₹ Cr.) | 6001.9 |
| ROE | 26.60% |
| ROCE | 31.91% |
| EPS (Rs) | 9.23 |
| RoNW | 23.48% |
Check Blue Jet Healthcare IPO Peer Comparison here.
Objects of the Issue (Blue Jet Healthcare IPO Objectives)
The company will not receive any proceeds from the Offer and all the Offer Proceeds will be received by the Selling Shareholders, in proportion to the Offered Shares sold by the respective Selling Shareholders as part of the Offer.
Blue Jet Healthcare IPO Review (Apply)
[Dilip Davda] BJHL has created a niche place in the global markets for the products manufactured by it and enjoys long term relationship with marquee customers and FMCGs. It is on capacity expansion spree and hopes to improve its performance in coming years. On the basis of annualized FY24 earnings, the issue appears fully priced. Investors may park funds for the medium to long-term rewards in this long race horse. Read detail review…
Blue Jet Healthcare IPO Subscription Status (Bidding Detail)
The Blue Jet Healthcare IPO is subscribed 7.95 times on October 27, 2023 7:02:00 PM. The public issue subscribed 2.24 times in the retail category, 13.72 times in the QIB category, and 13.59 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 13.72 |
| NII | 13.59 |
| bNII (bids above ₹10L) | 15.65 |
| sNII (bids below ₹10L) | 9.48 |
| Retail | 2.24 |
| Total | 7.95 |
Total Application : 393,163 (1.99 times)
Blue Jet Healthcare IPO Listing Details
| Listing Date | November 1, 2023 |
| BSE Script Code | 544009 |
| NSE Symbol | BLUEJET |
| ISIN | INE0KBH01020 |
| Final Issue Price | ₹346 per share |
Pre-Open Session – NSE Pre-Open Session – BSE
Blue Jet Healthcare Limited Contact Details
Blue Jet Healthcare Limited
701, 702, 7th Floor, Bhumiraj Costarica
Sector 18, Sanpada
Navi Mumbai, Thane – 400 705
Phone: +91 (22) 4184 0550
Email: companysecretary@bluejethealthcare.com
Website: https://bluejethealthcare.com/
Blue Jet Healthcare IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: bluejet.ipo@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html