- By Vaamanaa Sethi
- Tue, 24 Oct 2023 10:58 AM (IST)
- Source:JND
BlueJet Healthcare initial public offering (IPO) has reportedly raised over Rs 252.08 crore through an anchor book process on Monday, October 23. The IPO will open for subscription on Wednesday, October 25 and will close on Friday, October 27.
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Blue Jet Healthcare IPO price band has been fixed at Rs 329 to Rs 346 per equity share of face value of Rs 2.
As per reports, 22 investors took part in the anchor book offering, according to the exchange filing of Blue Jet Healthcare Limited. Some of the prominent investors in the list 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 IPO has revealed that it has successfully allocated 7,285,548 equity shares to anchor investors, each share being valued at ₹346. According to the exchange filing, out of the entire allotment of equity shares, a significant portion, specifically 3,229,687 equity shares, which accounts for 44.3%, was designated for five domestic mutual funds across eight different schemes.
The IPO consists of only an offer-for-sale (OFS) component of over 2.4 crore equity shares by promoters, and there is no fresh issue portion. Therefore, the entire issue proceeds will go to selling shareholders, the Arora family, and the company will not get any money from the offer.
The pharmaceutical company located in Maharashtra has allocated 50% of its offering size for qualified institutional buyers, with 15% designated for high net-worth individuals. The remaining 35% of the issue has been earmarked for retail investors.
The book running lead managers to the issue are Kotak Mahindra Capital Company, ICICI Securities, and JP Morgan India.
In the fiscal year ending March FY23, revenue from operations saw a year-on-year growth of 5.5 percent, reaching Rs 721 crore. However, the net profit for the same fiscal year decreased by 11.87 percent to Rs 160 crore. Conversely, during the quarter ending June FY24, the profit surged by 58.4 percent, totaling Rs 44.1 crore compared to the corresponding period in the previous fiscal year. Furthermore, revenue from operations in this quarter increased by 24.2 percent, reaching Rs 179.5 crore.
BlueJet Healthcare IPO GMP Today
The Grey Market Premium (GMP) for the Blue Jet Healthcare IPO remains steady at +63, mirroring the previous session. This signifies that on Tuesday, Blue Jet Healthcare's shares were being traded in the grey market at a premium of Rs 63, as reported by investorgain.com, as quoted by Livemint.
Based on the upper end of the IPO price band and the present premium observed in the grey market, the anticipated listing price for Blue Jet Healthcare's shares stands at Rs 409 each, representing an 18.21% increase from the IPO price of Rs 346.
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Over the past three trading sessions, the Grey Market Premium (GMP) for the Blue Jet Healthcare IPO stood at ₹85. According to the recent grey market trends observed over the past eight sessions, today's IPO GMP is on the rise, indicating anticipation of a robust listing. The GMP currently ranges from a low of ₹0 to a high of ₹95, as reported by investorgain.com.
