Blue Jet Healthcare IPO GMP, Date, Lot Size, Review, Allotment 2023

Blue Jet Healthcare Limited is set to launch its Initial Public Offering (IPO), with subscriptions opening on October 25, 2023.

 

Blue Jet Healthcare IPO – Key Details

 

IPO Opening Date 25-Oct-23
IPO Closing Date 27-Oct-23
IPO Listing Date 06-Nov-23
Issue Type Book Built Issue IPO
Face Value Rs 2 per equity share
IPO Price band Rs 329 to Rs 346 per equity share
Lot Size 43 Shares
Listing at BSE and NSE
Issue Size Rs. 840.27 Crores

Blue Jet Healthcare IPO Dates 

 

IPO Opens on 25-Oct-23
IPO Closes on 27-Oct-23
Basis of Allotment 01-Nov-23
Initiation of Refunds 01-Nov-23
Credit of Shares to Demat 03-Nov-23
Listing Date 06-Nov-23
Cut-off time for UPI mandate confirmation 27-Oct-23 – 5 pm

Blue Jet Healthcare IPO- About The Company

 

Blue Jet Healthcare is a pharmaceutical and healthcare ingredient and an intermediate company. Blue Jet Healthcare was the first manufacturer of saccharin and its salts (artificial sweeteners) in India.

The company mainly deals in three product categories:

  • Contrast Media Intermediates,
  • H0igh-intensity sweeteners, and
  • Pharma intermediates and active pharmaceutical ingredients.

The company is a global, science-led pharmaceutical company.  Blue Jet Healthcare is the provider of:

  • Process development and production capabilities
  • Global regulatory support
  • Collaboration, development, and manufacturing of advanced pharmaceutical intermediates and API.

The company has  three manufacturing facilities, which are situated in Shahad (Unit I), Ambernath (Unit II) and Mahad (Unit III) in the state of Maharashtra, India, with an annual installed capacity of 200.60 KL, 607.30 KL and 213.00 KL, respectively, as of June 30, 2023.

Blue Jet Healthcare IPO
Blue Jet Healthcare IPO

 

Blue Jet Healthcare IPO – industry overview 

 

The global pharmaceutical market, valued at US$1,381.54 billion in June 2023, is driven by four factors: new and biologic therapies expansion into new regions and indications, demand for generics, and efforts to improve drug access.

Contrast media intermediates, mainly produced in India and China, are used to enhance medical imaging. The global contrast media market was worth US$5.9 billion in June 2023 and is expected to grow at 6-8% CAGR until 2025. High-intensity sweeteners are sugar substitutes used in various products.

 The global market for these sweeteners was around US$3 billion in 2023 and is projected to grow at 6-7% CAGR over the next five years.

Pharmaceutical intermediates are the building blocks of pharmaceutical products which are synthesized into active pharmaceutical ingredients (APIs) and these APIs are then formulated into final pharmaceutical formulations such as tablets, and capsules.

 

Blue Jet Healthcare Financial Performance

 

  FY 2021 FY 2022* FY 2023* Q1 FY 2023*
Revenue 498.93 683.47 720.98 179.54
Expenses 317.85 459.65 528.33 126.68
Net income 135.78 181.72 159.94 44.19
Margin (%) 27.21 26.59 22.18 24.61

Figures in INR Crores

Blue Jet Healthcare Valuations & Margins

 

FY 2021 FY 2022 FY 2023
EPS 7.98 10.47 9.23
PE ratio 35.64 – 37.49
RONW (%) 39.96 34.82 23.48
NAV 19.59 30.07 39.29
ROCE (%) 49.70 47.13 31.91
EBITDA (%) 41.30 36.47 30.39
Debt/Equity 0.16 0.00 0.00

Blue Jet Healthcare – company strengths 

  • Blue Jet Healthcare’s strength lies in its integrated production process, which guarantees quality and cost-effectiveness. It manufactures crucial intermediates for contrast media and is a supplier to top manufacturers like GE Healthcare AS, Guerbet Group, and Bracco Imaging.
  •  It operates in niche segments that have high entry barriers and complex chemistry requirements. It focuses on contrast media intermediate and high-intensity sweetener categories, where it has a strong market position and expertise.
  • The company has long-term and stable relationships with multinational customers, including industry leaders in contrast media and tabletop sweeteners. It has been serving Colgate, Hindustan Unilever, and others for four to 24 years, giving it a competitive edge and customer loyalty.

 

Object Of The Issue

 

  • Funding capital expenditure requirements for the development of the City Gas Distribution network in the Geographical Areas of Namakkal and Tiruchirappalli (Tamil Nadu) in Fiscal 2024, Fiscal 2025 and Fiscal 2026;
  • Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company; and
  • General corporate purposes.

 

Blue Jet Healthcare IPO GMP Today

 

Date Day-wise IPO GMP Kostak Subject to Sauda
23 October 2023 95
20 October 2023 100

 

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Blue Jet Healthcare IPO Allotment Status

 

Blue Jet Healthcare IPO allotment status will be available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.

 

ALSO READ – https://ipobrain.com/irm-energy-ipo-gmp-review-price-date-allotment/

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