Blue Jet Healthcare’s shares are scheduled to debut on the bourses today. Ahead of its listing, Blue Jet Healthcare’s shares’ GMP surged 6.36%. The IPO was subscribed 7.95 times. The Qualified Institutional Buyers (QIBs) category was subscribed 13.72 times, the portion for non-institutional investors received a 13.59-time subscription, and the Retail Individual Investors (RIIs) quota got subscribed by 2.24 times.
“Blue Jet Healthcare is set to debut in the secondary market. The company’s GMP is currently at Rs 20, which indicates a decent listing. Based on the IPO’s upper price band of Rs 346, the estimated listing price of Blue Jet Healthcare shares is Rs 366, which is a premium of around 5 to 6 percent. The issue was subscribed to 7.95 times. The company manufactures contrast media intermediates and high-intensity sweeteners. where it has the benefit of high entry barriers and a long-term relationship with multinational customers. Given the current GMP and the market’s sentiment, it is likely that Blue Jet Healthcare may witness a flat to positive listing,” said Shivani Nyati, Head of Wealth, Swastika Investmart.
Blue Jet Healthcare IPO opened for public subscription on Wednesday, October 25, 2023 and closed on Friday, October 27, 2023. The price band for its public issue at Rs 329-346 per equity share of face value Rs 2 each. At the upper end of the price band, the company’s promoters and shareholders seek to raise Rs 840.27 crore from the IPO.
The IPO comprised an offer-for-sale (OFS), with promoters offloading 24,285,160 shares of Rs 2 aggregating up to Rs 840.27 crore. For potential investors, the bidding started at a minimum of 43 equity shares, with subsequent bids in multiple lots of 43 equity shares each. The minimum amount of investment required by retail investors was Rs 14,878. The company will not receive any proceeds from the Offer and all the Offer Proceeds will be received by the Selling Shareholders, in proportion to the Offered Shares sold by the respective Selling Shareholders as part of the Offer, according to the information available on Chittorgarh.com.
