Upcoming IPO: Blue Jet Healthcare's IPO is opening this month, know what is the price band
Upcoming IPO: The process of IPO is still going on in the stock market. This month Blue Jet Healthcare is launching its IPO for investors. The company's IPO will open on 25 October 2023 and close on 27 October. The price band of the company's IPO has been set at Rs 329 to Rs 346 per share. Let us know in detail about the company's IPO.
Pharmaceutical ingredients manufacturer Blue Jet Healthcare is about to launch its IPO for investors. The company informed today that it will bring an IPO worth Rs 840 crore to the investors. The company has set the price band of the IPO at Rs 329 to Rs 346 per share.
The company has offered 2.42 crore shares for offer for sale. The company will open for investors on 25 October 2023 and will close on 27 October 2023. The company's IPO will open for anchor investors on October 23.
This IPO is completely an OFS. The amount raised by this IPO will go to the shareholders. At the same time, the company will not get any funds from the issue.
The company's IPO maiden public offering is expected to fetch Rs 799 crore and Rs 840.27 crore at the lower and upper end of the price band, respectively. The investor can bid for a minimum of 43 equity shares.
Kotak Mahindra Capital Company Limited, ICICI Securities Limited, and JP Morgan India Private Limited are the book-running lead managers to the issue. The equity shares of Blue Jet Healthcare are proposed to be listed on BSE and NSE.
This company is located in Mumbai. The company operates under the brand name "Blue Jet". The innovator is offering niche products targeted at pharmaceutical companies and multinational generic pharmaceutical companies. This business model focuses on collaboration, development, and manufacturing of complex chemistry categories.
The company has developed more than 100 products over the past five decades.
As of June 30, 2023, the company had three manufacturing facilities in Shahad, Ambernath, and Mahad in Maharashtra. Apart from this, work has been done to expand the capacity in the financial year 2011. The company acquired a "greenfield" industrial facility.
76 percent of the company's revenue in FY22 came from Europe. This was followed by India (17.14 percent), America (4.18 percent), and some other countries.
