Blue Jet Healthcare IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Nov 01, 2023Blue Jet Healthcare Limited is a pharmaceutical company, operating under the brand “Blue Jet”. The company works in the Development and manufacturing of advance Pharmaceutical Intermediates and APIs.
Blue Jet is setting the floor to list its shares on the mainboard stock exchanges with its Offer for Sale IPO for up to 24,285,160 Equity Shares.
Blue Jet Healthcare IPO Review will take you through all the facets of the Blue Jet Healthcare IPO and help you understand its potential for investors and the market.
| Face Value | Rs. 2 |
| Price Band | Rs. 329 to Rs 346 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 43 Shares |
| Listing Date | November 6, 2023 |
| Offer for Sale | Rs 840.27 Cr. |
| Fresh Issue | NA |
| IPO Size | Rs 840.27 Cr. |
| Tick Size | 1 |
Blue Jet Healthcare IPO Overview
Blue Jet Healthcare IPO is purely an Offer for Sale by the promoters and other selling shareholders of the company.
The company will be offering up to 24,285,160 Equity Shares to the public and will be listing them on the Bombay Stock Exchange and the National Stock Exchange.
The company has filed the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI).
Blue Jet Healthcare IPO Important Dates
| Events | Date |
| IPO Opening Date | October 25, 2023 |
| IPO Closing Date | October 27, 2023 |
| Basis of Allotment Finalization | November 1, 2023 |
| Refunds Initiation | November 2, 2023 |
| Credit of Shares to Demat Account | November 3, 2023 |
| Share Listing Date | November 6, 2023 |
Blue Jet Healthcare IPO Dates have not been determined yet. The company has filed the draft papers recently and will take the next leap after the SEBI approval on DRHP.
IPO dates including IPO opening and closing dates, allotment dates, and credit of shares will be announced by the company through RHP and published widely for the general public.
IPO date means the date on which registration statements are filed by the entity in respect of the IPO.
Blue Jet Healthcare IPO Price, Size, Share Offerings
| Face Value | Rs.2 |
| Price Band | Rs. 329 to Rs 346 |
| Offer for Sale | Rs 840.27 Cr. |
| Fresh Issue | NA |
| IPO Size | Rs 840.27 Cr. |
Blue Jet Healthcare IPO Size will comprise the 24,285,160 Equity Shares offered by the shareholders of the company. The capital of the company will remain the same as the existing shareholders are offering their shares to the public and no new shares are being allotted.
Blue Jet Healthcare IPO Price will be determined through the Book Building Process. The face value of the offered shares is Rs. 2 each.
Blue Jet Healthcare IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| 01 Nov 2023 | Rs 25 | NA | NA |
| 31 Oct 2023 | Rs 25 | NA | NA |
| 30 Oct 2023 | Rs 25 | NA | NA |
| 29 Oct 2023 | Rs 10 | NA | NA |
| 26 Oct 2023 | Rs 35 | Rs 400 | Rs 2000 |
| 25 Oct 2023 | Rs 65 | Rs 400 | Rs 3000 |
| 24 Oct 2023 | Rs 90 | Rs 400 | Rs 3000 |
Blue Jet Healthcare IPO GMP or Grey Market Premium is the premium paid for the equity share in the Grey Market. This trading takes place before the listing of the shares on the stock exchange.
The Grey Market Premium for each day will be updated in the above table from where you will get all the details and insights of the trading.
Blue Jet Healthcare IPO Subscription Status
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 25th Oct | 0.01x | 1.38x | 0.80x | 0.70x |
| 2nd Day – 26th Oct | 0.09x | 2.84x | 1.38x | 1.32x |
| 3rd Day – 27th Oct | 13.72x | 13.59x | 2.24x | 7.95x |
| Shares Offered or Net Issue | 4,857,032 | 3,642,774 | 8,499,806 | 24,285,160 |
The IPO subscription represents the data of the number of shares that have been applied for by the bidders and indicates the demand for an IPO in the market. The subscription is divided into categories for different types of bidders.
Blue Jet Healthcare IPO Subscription will be open for a minimum 3 working days subject to an upper cap of 10 working days. In this duration, investors can apply for the shares of this company.
Blue Jet Healthcare IPO Allotment Status
The specifications in regard to the Blue Jet Healthcare IPO Allotment will be made available as the IPO goes live.
In case the IPO is undersubscribed, the investors will be allotted the number of shares as demanded and in case the IPO is oversubscribed, the allotment will be based on pro-rata or another method as determined by the entity in consultation with experts.
Link Intime India Private Limited is the registrar of the issue. Link Intime operates across India in the IPO and corporate Registry business.
It is one of the most prominent names serving with a credible and distinguished history of excellence.
Blue Jet Healthcare IPO Live Performance
An IPO leads to the listing of shares on the stock exchange and once they are listed, the general public can easily trade in it through the secondary market. If you are also interested in investing in Blue Jet Healthcare, stay updated with the latest Blue Jet Healthcare IPO Price.
Subscribe to Blue Jet Healthcare IPO – Open Free Demat Account Now!
Blue Jet Healthcare – Company Review
Blue Jet Healthcare was incorporated as Jet Chemicals Private Limited in 1968 in Mumbai, Maharashtra. Decades ago, this company held a lot of history in itself. The company changed its name to Blue Jet Healthcare Private Limited in December 2020 and operates under the brand name “Blue Jet” worldwide.
Blue Jet is a science-led pharmaceutical entity with having global footprint. The company is primarily engaged as a Strategic Partner for Collaboration, Development and manufacturing of advanced Pharmaceutical Intermediates and API.
The company has been present for over 50 years now and has evolved highly with the passage of time. Including and bringing new innovations and products that cater to a variety of requirements of today’s human.
Products or Services
Blue Jet Healthcare is a widely known entity and is reputed for some of its greatest innovations. They aspire to be an integrated growth partner for the venture in the field of Global Pharmaceutical and Healthcare arena.
The company’s business segment revolves around Integrated Contrast Media, Intermediate Manufacturers, Saccharin & its Salts, Niche Pharmaceuticals, Intermediates & API.
Blue Jet undertakes Research and development and manufacturing and counts reaction capabilities as one of its biggest strengths. The company ensures the highest level of quality and assurance for its customers and undertakes the criticality of the industry it operates.
Promoters and Holding
The founders of the Gurugram-based company, Blue Jet Healthcare are Akshay Bansarilal Arora, Shiven Akshay Arora, Archana Akshay Arora
The company is professionally managed and does not have any identifiable promoters. The management of Blue Jet Healthcare comprises of the following:
- Akshay Bansarilal Arora, in the position of Executive Chairman
- Shiven Akshay Arora, in the position of Managing Director
- Naresh Suryakant Shah, in the position of Executive Director
- Girish Paman Vanvari, in the position of Independent Director
- Preeti Gautam Mehta, in the position of Independent Director
- Divya Sameer Momaya, in the position of Independent Director
- Ganesh Karuppannan, in the position of Chief Financial Officer
- Sweta Poddar, in the position of Company Secretary and Compliance Officer
- Vimalendu Kumar Singh (V.K. Singh), in the position of Chief Operating Officer
- Archana Akshay Arora, in the position of Head – Business Development
- Chandrashekar Parenky, in the position of President – Research and Development
Is Blue Jet Healthcare Good for Investment?
Blue Jet Healthcare IPO has already created a buzz in the market being the first company to receive SEBI approval on DRHP in 2022.
Presently, the company has a strong diverse base of around 21,342 customers.
To expand its operations, Blue Jet Healthcare acquired the B2B logistics company, Spoton Logistics and in further pursuance, in December 2021, it made another acquisition of Transition Robotics Inc. which is a California-based unmannered aircraft system company.
The company is progressively making developments in respect of infrastructure, technology, and expansion.
Blue Jet Healthcare Financial Statements
| Amount (in INR & Million) | |||||
| 30-Jun-2023 | 30-Jun-2022 | Mar-2023 | 31-Mar-2022 | 31-Mar-2021 | |
| Assets | 9,038.01 | 7,319.48 | 8,620.65 | 7,133.75 | 5,362.70 |
| Revenue | 1,846.04 | 1,488.77 | 7,449.38 | 7,028.81 | 5,078.13 |
| Expense | 1,266.83 | 1,124.28 | 5,283.27 | 4,596.51 | 3,178.49 |
| Profit After Tax | 441.21 | 278.49 | 1,600.27 | 1,815.91 | 1,357.87 |
You will get a detailed idea of the financials of Blue Jet Healthcare from the above table. The table contains the figures related to total revenue, total assets, total profits, and the total expenses incurred on earning that profit.
The data is for different years so that you can check the financial status of this company not just for this year, but also for previous years.
The EPS or Earning per Share represent the capability of the company to offer to its shareholders presently. This too is given different years.
| Earnings per Equity Share (in Million) | |||||
| 30-Jun-2023 | 30-Jun-2022 | Mar-2023 | 31-Mar-2022 | 31-Mar-2021 | |
| Basic & Diluted | 2.54 | 1.61 | 9.23 | 10.47 | 7.98 |
Blue Jet Healthcare IPO Review
They are a speciality pharmaceutical and healthcare ingredient and intermediate company, offering niche products targeted toward innovator pharmaceutical companies and multi-national generic pharmaceutical companies.
Since their incorporation in 1968, they have 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.
They have competencies and manufacturing capabilities in contrast to media intermediates and high-intensity sweeteners, including saccharin and its salts. They manufacture a range of products in-house, including the key starting intermediate and advanced intermediates, which allows them to control their production process for consistent quality and cost-effectiveness.
Blue Jet Healthcare IPO Details
Here are a few more details you need to know before investing in Blue Jet Healthcare IPO –
Blue Jet Healthcare IPO Issue Object
Thus Blue Jet Healthcare has proposed diverse objectives for making the IPO offer and some of the objectives are:
- Utilisation of the Offer Proceeds by Selling Shareholders
- Offer Related Expenses
- Monitoring Utilization of Funds
Blue Jet Healthcare IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Large manufacturer of contrast media intermediates in India
- Presence in niche categories with high barriers to entry
- Long-standing relationships and multi-year contracts with multi-national customers
- Strong product development and process optimization capabilities with a focus on sustainability
Quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-23 | 9.23 | 23.48% | 39.29 |
| 31-Mar-22 | 10.47 | 34.82% | – |
| Mar-21 | 7.98 | 39.96% | – |
Blue Jet Healthcare IPO Lead Managers
Here is the list of Lead managers –
- Kotak Mahindra Capital Company Limited
- ICICI Securities Limited
- J.P. Morgan India Private Limited
Blue Jet Healthcare IPO Registrar to offer
Check out the details of the registrar here –
Link Intime India Private Limited
C-101, 247 Park, 1st Floor,
L.B.S. Marg, Vikhroli (West)
Mumbai 400 083, Maharashtra
Telephone: +91 (22) 4918 6200
E-mail: bluejet.ipo@linkintime.co.in
Website: www.linkintime.co.in
Investor grievance e-mail: bluejet.ipo@linkintime.co.in
Contact person: Shanti Gopalkrishnan
SEBI Registration No.: INR000004058
Blue Jet Healthcare IPO – Other Details
- Statutory Auditor – KKC & Associates LLP
- Legal Counsel to the Company – AZB & Partners
- Bankers to the Company – Bank of India Limited, DBS Bank Limited, Kotak Mahindra Bank Limited,
Blue Jet Healthcare IPO – Conclusion
Thus Blue Jet Healthcare is half a century old so investors can understand the brand value of this company and its progress in the long run. The company operates in the Pharmaceutical industry whose importance will keep rising with time and innovations.
The company was a private entity for a long time and has now finally come up to make the general public, a part of it.
Investment in this company can be a good idea for niche investors as well as for long-term holders.
To Subscribe to Blue Jet Healthcare IPO – Open Demat Account Now!
Blue Jet Healthcare IPO Review FAQs
Check out the FAQs on Blue Jet Healthcare IPO –
What is the Issue Size of Blue Jet Healthcare IPO?
The Company is making an initial public offer of 24,285,160 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Blue Jet Healthcare IPO?
The price band for this particular IPO ranges between Rs. 329 to Rs. 346 As far as the face value of the share is concerned, it is Rs.2 per share.
What is the Blue Jet Healthcare IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on October 25, 2023, while the closing date is set for October 27, 2023.
What is the Blue Jet Healthcare IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on November 1, 2023, refund initiation is on November 2, 2023, credit of shares is on November 3, 2023, and share listing date is on November 6, 2023.
What is the Blue Jet Healthcare IPO Listing Date?
Shares of this company shall be listed in the exchanges on November 6, 2023. The date, when the listing would be done, is stagnant on November 6, 2023.
Who is the Registrar of Blue Jet Healthcare IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Blue Jet Healthcare IPO?
Here are the promoters of this IPO – Akshay Bansarilal Arora, Shiven Akshay Arora, and Archana Akshay Arora. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Blue Jet Healthcare IPO?
They have obtained the GMP of this IPO and it is Rs. 25. Further insights of the Kostak rate and subject to sauda or SS are as well included in this report.
Is Blue Jet IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Blue Jet Healthcare Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Million is 1,600.27, 2022 is 1,815.91, and 2021 is 1,357.87. PAT from Jun 2023 is 441.21.
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