Blue Jet Healthcare IPO Date, GMP, Price, Analysis and Review
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Blue Jet Healthcare Limited is a specialized pharmaceutical and healthcare ingredient and intermediate business that caters to multinational generic pharmaceutical corporations and innovator pharmaceutical corporations. With its foundation laid in 1968, the company made strategic investments in manufacturing infrastructure and research and development (R&D), leading to the establishment of a contract development and manufacturing organization (CDMO) business model. Specializing in chemistry capabilities for contrast media intermediates and high-intensity sweeteners, they are proficient in producing products like saccharin and its salts. Their in-house production includes important starting intermediates and advanced intermediates, ensuring reliable quality and cost-effective operations.
Over the last three financial years, Blue Jet Healthcare has served more than 350 customers across 35 countries, building a loyal consumer base through its niche offerings in the pharmaceutical and healthcare industry.
The company operates three manufacturing facilities located in Shahad (Unit I), Ambernath (Unit II), and Mahad (Unit III) in the state of Maharashtra, India. As of June 30, 2023, these facilities have annual installed capacities of 200.60 KL, 607.30 KL, and 213.00 KL, respectively.
Blue Jet Healthcare’s core strengths include:
- Considerable manufacturing capacity for contrast media intermediates in India.
- Operations in a niche market with high entry barriers.
- Long-term relationships and contracts with multinational customers.
Objects of the Issue (Blue Jet Healthcare IPO Objectives)
- Prepayment / repayment of all or a portion of the outstanding borrowings of the company on a consolidated basis.
- To meet common corporate objectives.
Blue Jet Healthcare IPO Details
The Blue Jet Healthcare IPO is a book-built issue with a total worth of Rs 840.27 crores. It comprises solely an offer for sale of 2.43 crore shares.
IPO Date | October 25, 2023 to October 27, 2023 |
Listing Date | November 6, 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 |
DRHP Draft Prospectus: | Click Here |
RHP Draft Prospectus: | Click Here |
Blue Jet Healthcare IPO Reservation
Investor Category | Shares Offered |
---|---|
QIB Shares Offered | Not more than 50% of the Net Issue |
Retail Shares Offered | Not less than 35% of the Net Issue |
NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Blue Jet Healthcare IPO Lot Size
Investors can bid for a minimum of 43 shares, with multiples thereafter. The table outlines the minimum and maximum investment for both retail and HNI investors in shares and amounts.
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 |
Blue Jet Healthcare IPO Dates
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 | Wednesday, November 1, 2023 |
Initiation of Refunds | Wednesday, November 1, 2023 |
Credit of Shares to Demat | Friday, November 3, 2023 |
Listing Date | Monday, November 6, 2023 |
Cut-off time for UPI mandate confirmation | 5 PM on October 27, 2023 |
Blue Jet Healthcare Ltd Company Financial Report
Blue Jet Healthcare Limited’s revenue grew by 5.98%, but the profit after tax (PAT) fell by -11.88% between the financial year ending on March 31, 2023, and March 31, 2022.
Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
---|---|---|---|---|
Assets | 903.80 | 862.07 | 713.38 | 536.27 |
Revenue | 184.60 | 744.94 | 702.88 | 507.81 |
Profit After Tax | 44.12 | 160.03 | 181.59 | 135.79 |
Net Worth | 725.68 | 681.49 | 521.54 | 339.82 |
Reserves and Surplus | – | – | – | – |
Total Borrowing | – | – | – | – |
Key Performance Indicator of Blue Jet Healthcare Ltd
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 |
Market Cap (₹ Cr.) | 6001.9 |
ROE | 26.60% |
ROCE | 31.91% |
EPS (Rs) | 9.23 |
RoNW | 23.48% |
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 |
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
Blue Jet Healthcare IPO Key Points
Strengths and Opportunities:
- Long-term relationships with customers – GE Healthcare, Guerbet, and Bracco (four to 24 years).
- Enters into annual and multi-year contracts, ensuring strong revenue and cash flow visibility.
- Portfolio of 15 contrast media intermediates.
- Positive free cash flow reported in FY20, FY21, and FY22.
- Presence in niche categories with high entry barriers.
- Global contrast media formulation market size of US$6.7 billion for March 2022.
Risks and Threats:
- Revenue concentration – Around 76% of FY22 revenue from Europe.
- Top five customers contributed 75% of FY22 revenue.
- Infrastructure and operations concentrated in Maharashtra.
- Significant working capital required for manufacturing operations.
- Pricing pressure from customers may impact profitability.
Blue Jet Healthcare IPO FAQs
What is Blue Jet Healthcare IPO?
Blue Jet Healthcare IPO is a main-board IPO of 24,285,160 equity shares with a face value of ₹2, aggregating up to ₹840.27 Crores. The issue is priced between ₹329 to ₹346 per share. The minimum order quantity is 43 Shares. The IPO will open on October 25, 2023, and close on October 27, 2023.
The registrar for the IPO is Link Intime India Private Ltd, and the shares are intended to be listed on BSE and NSE.
How to apply for the Blue Jet Healthcare IPO through Zerodha?
Zerodha customers can apply for the Blue Jet Healthcare IPO online using UPI as a payment gateway. To do so, follow these steps:
1. Visit the Zerodha website and log in to Console.
2. Go to the Portfolio section and click on the IPOs link.
3. Find the ‘Blue Jet Healthcare IPO’ row and click on the ‘Bid’ button.
4. Enter your UPI ID, Quantity, and Price.
5. ‘Submit’ the IPO application form.
6. Visit your UPI app (net banking or BHIM) to approve the mandate.
When will the Blue Jet Healthcare IPO open?
The Blue Jet Healthcare IPO is scheduled to open on October 25, 2023, and will close on October 27, 2023.
What is the lot size of the Blue Jet Healthcare IPO?
The lot size for the Blue Jet Healthcare IPO is 43 Shares, with a minimum amount required of ₹14,878.
How can you apply for the Blue Jet Healthcare IPO?
You can apply for the Blue Jet Healthcare IPO online using either UPI or ASBA as your payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don’t provide banking services. For further details on applying for an IPO online, you can refer to instructions from brokers like Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank, and SBI Bank.
When will the Blue Jet Healthcare IPO allotment occur?
The Basis of Allotment for the Blue Jet Healthcare IPO will be finalized on Wednesday, November 1, 2023. The allotted shares are expected to be credited to your demat account by Friday, November 3, 2023. You can check the Blue Jet Healthcare IPO allotment status during this period.
When is the Blue Jet Healthcare IPO listing date?
The listing date for the Blue Jet Healthcare IPO has not been announced yet, but it is tentatively scheduled for Monday, November 6, 2023.