Blue Jet Healthcare IPO opens today. GMP, review, other details. Apply or not?

Blue Jet Healthcare IPO important details

1] Blue Jet Healthcare IPO GMP: According to market observers, shares of Blue Jet Healthcare are available at a premium of ₹85 per share in grey market today.

2] Blue Jet Healthcare IPO date: The public issue will remain open for bidding from 25th to 27th October 2023.

3] Blue Jet Healthcare IPO price: The company has fixed issue price at ₹329 to ₹346 per equity share.

4] Blue Jet Healthcare IPO size: The company aims to raise ₹840.27 crore from is book build offer, which is completely offer for sale (OFS).

5] Blue Jet Healthcare IPO lot size: A bidder will be able to apply for this issue in lots and one lot of the issue comprises 43 company shares.

6] Blue Jet Healthcare IPO allotment date: The likely date for finalisation of share allocation is 1st November 2023.

7] Blue Jet Healthcare IPO registrar: Link Intime India Private Ltd has been appointed as official registrar of this public issue.

8] Blue Jet Healthcare IPO listing: The book build issue is proposed for listing on BSE and NSE.

9] Blue Jet Healthcare IPO listing date: The likely date for share listing is 6th November 2023.

10] Blue Jet Healthcare IPO review: On whether one should apply for the public issue or not, Choice Broking report said, ” BJHL is mainly a Contract Development and Manufacturing Organization (CDMO), deriving around 75% of the business from CDMO operations. Its product profile is niche and over the period of operations, it has developed a long lasting relation with the clients. As a result, today it is able to generate around 70% of the total business from long term contracts with such clients. Over FY20-23, the company has reported a strong growth in the business, however higher raw material costs impacted the profitability. RoE was healthy, despite 3x rise in net-worth. Going forward, BJHL will benefit from sustained demand of its products and lower/stabilizing raw material prices. It has planned certain brownfield and greenfield expansions, which will increase the installed capacity by around 50% over FY25E. So, Blue Jet Healthcare IPO has strong growth prospects and valuation comfort and one can subscribe to this public issue.”

Reliance Securities has also given ‘subscribe’ tag to the IPO citing, “BJHL is one of the innovative companies in niche categories with more than two decades of experience and has specialized chemistry capabilities; with dedicated R&D laboratories to offer various products in highly concentrated contrast media formulations. The management is adopting a prudent strategy of diversifying revenues with a major thrust on exports with a high margin product mix going forward. The increased expansion over the next 2 years for envisaged increase in demand and leveraging the customer relationships for pharma intermediates and API categories will boost earnings over the next few years. We recommend a SUBSCRIBE to the issue.”

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

“Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!” Click here!

Updated: 25 Oct 2023, 09:15 AM IST