Shares of Blue Jet Healthcare will be listed on the bourses today. The company has fixed the IPO price at ₹346, at the upper end of the price band ₹329-346.
Shivani Nyati, Head of Wealth, Swastika Investmart Ltd, said: The company’s gray market premium is currently at ₹20, which indicates a decent listing. Based on the IPO’s upper price band of ₹346, the estimated listing price of Blue Jet Healthcare shares is ₹366, which is a premium of around five to six per cent.
- Also read: Blue Jet Healthcare issue subscribed 8 times
The initial public offering of Blue Jet Healthcare was subscribed 7.95 times, as it received decent interest from all category investors.
While the portion earmarked for qualified institutional buyers was subscribed 13.72 times, the quota for non-institutions and retail investors saw 13.59 times and 2.24 times growth. The issue received bids for around 13.52 crore shares against 1.70 crore shares on offer.
100% offer-for-sale
Blue Jet Healthcare’s entire IPO was an offer-for-sale (OFS).
The company had mopped up ₹252.08 crore from anchor investors by allotting 72.85 lakh shares at ₹346 a share. Among the anchor investors included ICICI Prudential Funds, HDFC Mutual Fund, Nippon Life India, Aditya Birla Sun Life Insurance, Government Pension Fund Global, HSBC Global Investment Funds, Edelweiss Trusteeship, and BNP Paribas.
Blue Jet Healthcare follows a contract development and manufacturing organisation (CDMO) business model, operating in three product categories — contrast media intermediates, high-intensity sweeteners, and pharma intermediates & active pharmaceutical ingredients (APIs).