Blue Jet Healthcare to go public with IPO on October 25

Blue Jet Healthcare to go public with IPO on October 25
© Reuters.

Blue Jet Healthcare, a specialist in contrast media intermediates, has announced its Initial Public Offering (IPO) set to launch on October 25, 2023. The IPO will follow that of IRM Energy. The anchor book is scheduled to open on October 23 and close on October 27, with the issue price band and lot size details to be announced on October 19.

The IPO includes an Offer for Sale (OFS) of 2.4 crore equity shares by promoters Akshay Bansarilal Arora and Shiven Akshay Arora. Allocations have been reserved for Qualified Institutional Buyers (50%), high net-worth individuals (15%), and retail investors (35%).

Blue Jet Healthcare operates three manufacturing facilities in Maharashtra, India. The company serves clients including GE Healthcare AS and Colgate-Palmolive (NYSE:) (India) across 39 countries. Despite a drop in FY23 EBITDA to Rs 160 crore on a revenue of Rs 721 crore, Blue Jet Healthcare saw a net profit surge in Q1 FY24, reporting Rs 44.1 crore.

The shares from the IPO will be credited to successful investors’ demat accounts by November 3, and are expected to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) from November 6.

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