24 February 2024

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Blue Jet Healthcare IPO

Blue Jet Healthcare IPO Price, GMP, Date, Review, Details

Blue Jet Healthcare IPO: Blue Jet Healthcare Limited’s initial public offering (IPO) began today. The book build issue will be offered for bidding until October 27th, 2023. This means that the Blue Jet Healthcare IPO application period runs from Wednesday to Friday this week. Blue Jet Healthcare IPO pricing has been set at ₹329 to ₹346 per equity share, with the public offering planned for listing on the BSE and NSE.

Meanwhile, Blue Jet Healthcare Limited shares have already made their debut on the grey market. According to market experts, shares of Blue Jet Healthcare are currently available in the grey market at a premium of ₹85 per share.

Blue Jet Healthcare IPO subscription status

The public issue had been subscribed 0.08 times by 10:36 AM on day one of bidding, while the retail component had been subscribed 0.12 times. The NII section of the book construction problem has received 0.09 subscriptions.

Blue Jet Healthcare IPO important details

1] Blue Jet Healthcare IPO GMP: According to market observers, shares of Blue Jet Healthcare are available at a premium of ₹85 per share in grey market today.

2] Blue Jet Healthcare IPO date: The public issue will remain open for bidding from 25th to 27th October 2023.

3] Blue Jet Healthcare IPO price: The company has fixed issue price at ₹329 to ₹346 per equity share.

4] Blue Jet Healthcare IPO size: The company aims to raise ₹840.27 crore from is book build offer, which is completely offer for sale (OFS).

5] Blue Jet Healthcare IPO lot size: A bidder will be able to apply for this issue in lots and one lot of the issue comprises 43 company shares.

6] Blue Jet Healthcare IPO allotment date: The likely date for finalisation of share allocation is 1st November 2023.

7] Blue Jet Healthcare IPO registrar: Link Intime India Private Ltd has been appointed as official registrar of this public issue.

8] Blue Jet Healthcare IPO listing: The book build issue is proposed for listing on BSE and NSE.

9] Blue Jet Healthcare IPO listing date: The likely date for share listing is 6th November 2023.

10] Blue Jet Healthcare IPO review: According to a Choice Broking study, “BJHL is primarily a Contract Development and Manufacturing Organization (CDMO), deriving approximately 75% of its revenue from CDMO operations.” Its product profile is niche, and it has formed long-term relationships with its clients throughout the course of its operations. As a result, it is now able to generate approximately 70% of total business from long-term contracts with such clients.

The company claimed substantial growth in the business during FY20-23, but rising raw material costs hampered profitability. Despite a threefold increase in net wealth, RoE was robust. BJHL will gain in the future from continuous demand for its products as well as lower/stabilizing raw material prices. Certain brownfield and greenfield additions are planned, which will increase installed capacity by about 50% over FY25E. So, the Blue Jet Healthcare IPO offers good growth potential and a comfortable valuation, and one can subscribe to this public offering.”

Reliance Securities has also assigned the IPO the’subscribe’ label, citing, “BJHL is one of the innovative companies in niche categories with more than two decades of experience and has specialized chemistry capabilities; with dedicated R&D laboratories to offer various products in highly concentrated contrast media formulations.”

Going forward, management will pursue a sensible strategy of diversifying revenues, with a focus on exports and a high margin product mix. Increased expansion over the next two years to meet anticipated demand and leverage customer connections for pharma intermediates and API categories will raise earnings in the next years. We suggest that you SUBSCRIBE to the issue.”

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