Blue Jet Healthcare IPO will open for subscription from 25 October 2023. The company aims for an issue size of ₹840.27 Cr through this IPO.
Company Overview
| Full name | Blue Jet Healthcare Limited |
| Sector | Healthcare |
| Industry | Pharmaceuticals & Drugs |
| Company Website | https://bluejethealthcare.com/ |
About Company
Incorporated in 1968, Blue Jet Healthcare is a specialty pharmaceutical and healthcare ingredient and intermediate company. It has established a contract development and manufacturing organization (CDMO) business model with specialized chemistry capabilities in contrast to media intermediates and high-intensity sweeteners, on the back of strategic and early investments in research and development (R&D) and manufacturing infrastructure.
As of 30 June 2023, the company has catered to more than 400 customers in 39 countries. Blue Jet Healthcare operations are primarily organized in three product categories:
- Contrast Media Intermediates
- High-intensity Sweeteners
- Pharma Intermediates, and Active Pharmaceutical Ingredients (APIs)
Blue Jet currently operates three manufacturing facilities, which are located in Shahad, Ambernath, and Mahad 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 30 June 2023.
The Objectives of the Issue
- 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 Timetable
| IPO Opening date | 25 October 2023 |
| IPO Closing | 27 October 2023 |
| Basis of Allotment | 01 November 2023 |
| Initiation Refund | 01 November 2023 |
| Credit to Demat Account | 03 November 2023 |
| Listing Date | 06 November 2023 |
Blue Jet Healthcare IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹840.27 Cr – 24,285,160 shares |
| Fresh Issue | ₹840.27 Cr – 24,285,160 shares |
| Offer for sale | Nil |
| Face value | ₹02 per share |
| Price Band Offer Price | ₹329 to ₹346 per share |
| Lot size | 43 Shares |
| Shareholding pre-issue | 173,465,425 |
| Shareholding post-issue | 173,465,425 |
| Listing Exchange | BSE & NSE |
Blue Jet Healthcare IPO Lot Size
| 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 |
Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Blue Jet Healthcare Financial Performance
| FY 2021 | FY 2022* | FY 2023* | Q1 FY 2023* | |
| Revenue | 498.93 | 683.47 | 720.98 | 179.54 |
| Expenses | 317.85 | 459.65 | 528.33 | 126.68 |
| Net income | 135.78 | 181.72 | 159.94 | 44.19 |
| Margin (%) | 27.21 | 26.59 | 22.18 | 24.61 |
Blue Jet Healthcare Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 7.98 | 10.47 | 9.23 |
| PE ratio | – | – | 35.64 – 37.49 |
| RONW (%) | 39.96 | 34.82 | 23.48 |
| NAV | 19.59 | 30.07 | 39.29 |
| ROCE (%) | 49.70 | 47.13 | 31.91 |
| EBITDA (%) | 41.30 | 36.47 | 30.39 |
| Debt/Equity | 0.16 | 0.00 | 0.00 |
Company Promoters
- Akshay Bansarilal Arora
- Shiven Akshay Arora
- Archana
- Akshay Arora
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 86% |
Blue Jet Healthcare IPO Lead Manager(s)
- Kotak Mahindra Capital Company Limited
- ICICI Securities Limited
- J.P. Morgan India Private Limited
Blue Jet Healthcare IPO Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West Mumbai – 400 083, Maharashtra
Telephone: +91 (22) 4918 6200
Email: bluejet.ipo@linkintime.co.in
Website: www.linkintime.co.in
Blue Jet Healthcare Contact Details
BLUE JET HEALTHCARE LIMITED
701, 702, 7th Floor, Bhumiraj Costarica, Sector 18,
Sanpada, Navi Mumbai, Thane – 400 705, Maharashtra
Phone: +91 (22) 4184 0550
E-mail: companysecretary@bluejethealthcare.com
Website: www.bluejethealthcare.com
Blue Jet Healthcare IPO Allotment Status
Blue Jet Healthcare IPO allotment status will be available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.
Final thoughts
Blue Jet Healthcare IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
