Issue Subascribed Ndearly 8 Times, QIBs Lead With 13.72x

Blue Jet Healthcare Limited is a specialty pharmaceutical and healthcare ingredient and intermediate company.

MUMBAI, Oct 27 (The CONNECT) – The Initial Public Offering of Blue Jet Healthcare Limited was subscribed 7.94 times on the final day of bidding today.

The issue received bids of 13,50,46,488 shares against the offered 1,69,99,612 equity shares, at a price band of ₹329-346, according to the data available on the stock exchanges.

Qualified Institutional Buyer Portion and Non-Institutional Investors Portion was subscribed 13.72 times and 13.59 times respectively. Retail Portion was subscribed 2.22 times.

Kotak Mahindra Capital Company Limited, ICICI Securities Limited and J.P. Morgan India Private Limited are book running lead manager and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.   

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.

The public issue with a face value of Rs 2 per equity share is a complete offer-for-sale (OFS) of up to 24,285,160 equity shares by Promoter and selling shareholders, which comprises up to 18,366,311 by Akshay Bansarilal Arora, up to 5,918,849 by Shiven Akshay Arora. 

Incorporated in 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