The public issue of face value of Rs 2 per equity share is entirely an offer for sale of equity shares up to 2,42,85,160
A specialty pharma and healthcare ingredient and intermediate company Blue Jet Healthcare has fixed the price band at Rs 329 to Rs 346 per equity share for its maiden initial public offer. The Initial Public Offering (IPO or Offer) of the company will open on Wednesday, October 25, 2023, for subscription and close on Friday, October 27, 2023. Investors can bid for a minimum of 43 equity shares and in multiples of 43 equity shares thereafter.
The public issue of face value of Rs 2 per equity share is entirely an offer for sale of equity shares up to 2,42,85,160.
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 pharma ingredients. 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.
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.