BLUE JET's IPO ready to be listed in the stock market, subscribed so many times on the last day
Many companies had launched their IPOs in the first quarter of the fourth financial year. This quarter also many companies are going to launch their IPOs. On October 25, 2023, BLUEJET opened its IPO for investors. The company's IPO received full support from investors. Now the IPO of the company is going to be listed in the stock market.
Pharmaceutical ingredients manufacturer Blue Jet Healthcare opened its IPO on October 25, 2023. The IPO of the company will soon be listed in the stock market. The company had opened its IPO for anchor investors a day earlier i.e. on October 24.
Anchor investors liked the company's IPO very much. The company had raised Rs 252 crore from anchor investors. Blue Jet said that their anchor investors for this IPO include Government Pension Fund Global, BNP Paribas Arbitrage, Societe Generale, Integrated Core Strategies (Asia) Pte Ltd, Aditya Birla Sun Life Insurance Company, ICICI Prudential Mutual Fund (MF), HDFC. MF, Nippon India MF, Edelweiss MF and Bandhan MF.
When the IPO of the company was open for investors, it was liked a lot by retail investors as well as other investors. Till now the company has not announced any confirmed date for listing in the stock market. Kotak Mahindra Capital Company, ICICI Securities and JP Morgan India are the managers of the offer.
The IPO of Blue Jet Healthcare closed for investors on October 27. The company's IPO was subscribed 7.95 times on the last day. The IPO received bids for 13,51,86,496 shares worth Rs 840.27 crore, according to NSE data.
The portion of non-institutional investors was subscribed 13.59 times, while that of retail individual investors was subscribed 2.24 times. Qualified institutional buyers got subscription 13.72 times.
The company has issued 24,285,160 equity shares in this IPO. The price band of this IPO was fixed at Rs 329-346 per share.
This company is located in Mumbai. It operates under the brand name "Blue Jet". It offers products to innovator pharmaceutical companies and multinational generic pharmaceutical companies. Over the past five decades, the company has developed more than 100 products, of which more than 40 have been commercialized, the company said.
Also Read: Upcoming IPO: Blue Jet Healthcare's IPO is opening this month, know what is the price band
