Mr. Shiven Arora, MD of Blue Jet Healthcare Limited addressing to media during their IPO announcement at Mumbai -Photo By GPN
(L-R): Mr. V K Singh, COO, Mr. Shiven Arora, MD, Mr. Akshay Arora, Chairman and Mr. Ganesh Karuppannan, CFO of Blue Jet Healthcare Limited during their IPO announcement at Mumbai – Photo By GPN
Mr. Shiven Arora, MD of Blue Jet Healthcare Limited addressing to media during their IPO announcement at Mumbai -Photo By GPN
L-R: Mr Viren Jairath, Director, Equity Capital Markets at Kotak Mahindra Capital Company Ltd ; Mr V. K. Singh, COO, BLUE JET HEALTHCARE Ltd; Mr. Shiven Arora, Managing Director, BLUE JET HEALTHCARE Ltd; Mr. Akshay Arora, Chairman, BLUE JET HEALTHCARE Ltd; Mr. Ganesh Karuppannan, CEO, BLUE JET HEALTHCARE Ltd; Mr. Varun Bhel, Exc. Director, J.P. Morgan India Pvt Ltd; Mr. Deepak Nawal, Sr. Client Coverage Banker, Head Industrials, ICICI SECURITIES Ltd. at the BLUE JET HEALTHCARE LIMITED IPO Announcement today held in Mumbai – Photo By GPN
L-R: Mr Viren Jairath, Director, Equity Capital Markets at Kotak Mahindra Capital Company Ltd ; Mr V. K. Singh, COO, BLUE JET HEALTHCARE Ltd; Mr. Shiven Arora, Managing Director, BLUE JET HEALTHCARE Ltd; Mr. Akshay Arora, Chairman, BLUE JET HEALTHCARE Ltd; Mr. Ganesh Karuppannan, CEO, BLUE JET HEALTHCARE Ltd; Mr. Varun Bhel, Exc. Director, J.P. Morgan India Pvt Ltd; Mr. Deepak Nawal, Sr. Client Coverage Banker, Head Industrials, ICICI SECURITIES Ltd. at the BLUE JET HEALTHCARE LIMITED IPO Announcement today held in Mumbai – Photo By GPN
L-R: Mr Viren Jairath, Director, Equity Capital Markets at Kotak Mahindra Capital Company Ltd ; Mr V. K. Singh, COO, BLUE JET HEALTHCARE Ltd; Mr. Shiven Arora, Managing Director, BLUE JET HEALTHCARE Ltd; Mr. Akshay Arora, Chairman, BLUE JET HEALTHCARE Ltd; Mr. Ganesh Karuppannan, CEO, BLUE JET HEALTHCARE Ltd; Mr. Varun Bhel, Exc. Director, J.P. Morgan India Pvt Ltd; Mr. Deepak Nawal, Sr. Client Coverage Banker, Head Industrials, ICICI SECURITIES Ltd. at the BLUE JET HEALTHCARE LIMITED IPO Announcement today held in Mumbai – Photo By GPN
MUMBAI, 19 OCTOBER, 2023 (GPN): Blue Jet Healthcare Limited, a specialty pharmaceutical and healthcare ingredient and intermediate company, offering niche products targeted towards innovator pharmaceutical companies and multi-national generic pharmaceutical companies, on Thursday announced it’s IPO at a press meet, The company fixed a price band of Rs 329-346 per share for its Rs 840 crore Initial Public Offering (IPO).
The bidding for the issue, which is entirely an Offer for Sale (OFS) component of 2.42 crore shares by promoters — Akshay Bansarilal Arora and Shiven Akshay Arora — will open for public subscription during October 25-27. The anchor book for the issue will open on October 23, the company said.
Since the IPO is completely an OFS, the entire proceeds will go to the selling shareholders, and the company will not receive any funds from the issue.
The maiden public issue is expected to fetch Rs 799 crore and Rs 840.27 crore at the lower and upper ends of the price band, respectively.
Investors can bid for a minimum of 43 equity shares and in multiples of 43 equity shares thereafter.
Incorporated in the year 1968 as Jet Chemicals Private Limited by the Late Shri B L Arora, Blue Jet Healthcare is promoted by its Executive Chairman; Akshay Bansarilal Arora. The company operates under the “Blue Jet” brand name and has competencies and manufacturing capabilities in contrast to media intermediates and high-intensity sweeteners, including saccharin and its salts as well as active pharmaceutical ingredients. Its business model focuses on collaboration, development, and manufacturing of complex chemistry categories. Over the past 5 decades through its R&D center, it has developed over 100 products with over 40 products commercialised.
Over three years, the company has catered to more than 400 customers across 39 countries some of them being Colgate Palmolive (India) Ltd, Unilever, Prinova US LLC, and MMAG Co Ltd in the oral care and non-alcoholic beverage space; Hovione Farmaciência, Olon S.p.A., Esperion Therapeutics Inc., and Bial– Portela & CA, S.A for pharmaceutical intermediates, API and CDMO area and GE Healthcare AS, Guerbet Group, Bracco Imaging S.p.A, and Bayer AG, in the contrast media area.
As of June 30, 2023, it operates three manufacturing facilities, in Shahad, Ambernath, and Mahad in the state of Maharashtra, with an annual installed capacity of 200.60 KL, 607.30 KL, and 213.00 KL, respectively. In efforts of its capacity expansion in FY 21, it acquired a “greenfield” industrial facility on a leasehold basis in Ambernath. Its total annual production is expected to reach 1,513.6 KL. In FY22, 76 per cent of the company’s income came from Europe, followed by India (17.14 per cent), the US (4.18 per cent), and some other countries.
Kotak Mahindra Capital Company Limited, ICICI Securities Limited and J.P. Morgan India Private Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.
Note:
Issue Size of the IPO based on the upper and lower end of the price band
| Offer for Sale (2,42,85,160 equity shares) | |
| Lower Band (@329) | Rs 798.98 crore |
| Upper Band (@346) | Rs 840.27 crore |
Be the first to comment on "Blue Jet Healthcare Ltd Rs 840 crore IPO to Open on Wednesday, October 25, 2023, Sets price band at Rs 329 – 346 per share"