Blue Jet Healthcare Limited is a specialised pharmaceutical and healthcare ingredient and intermediate business that sells niche items to both multinational generic pharmaceutical corporations and innovator pharmaceutical corporations. Blue Jet Healthcare IPO will hit the stock market in January 2023.
Table of Contents
About Blue Jet Healthcare
On the strength of early and strategic investments in manufacturing infrastructure and research and development (R&D), they have since their incorporation in 1968 developed a contract development and manufacturing organization (CDMO) business model with specialized chemistry capabilities in contrast media intermediates and high-intensity sweeteners.
They are skilled in producing high-intensity sweeteners like saccharin and its salts as well as intermediates for contrast media. They produce a variety of goods in-house, including the important starting intermediate & advanced intermediates, which enables them to manage their production process for reliable quality & economical operation.
They invoiced a total of more than 350 customers in 35 countries over the course of the last three financial years. They have amassed a loyal consumer base over time.
Manufacturing Plant
As of March 31, 2022, Blue Jet Healthcare limited is currently running three manufacturing plants, with annual installed capacities of 200.60 KL, 607.30 KL, and 213.00 KL, respectively, in the Indian states of Maharashtra, Shahad, and Ambernath.
Their facilities are routinely subjected to rigorous customer audits. Their Unit II facility has been registered with the US-FDA and is recognized by the World Health Organization for acceptable manufacturing procedures.
Additionally, throughout the 2018 Financial Year, US-FDA inspections were conducted at their Unit II facility. In November 2019, they got the results of those inspections.
Blue Jet Healthcare have carefully incurred capital expenditures to boost their manufacturing capacity during the past five years in order to keep up with rising client demand.
Business Model
In both the contrast media intermediate and high-intensity sweetener categories, Blue Jet Healthcare Limited strategically focuses on complicated chemistry categories, particularly on items requested by consumers and products chosen by their internal product portfolio team.
Given the parenteral use of contrast media formulations, the relationships between the contrast media manufacturers and Blue Jet Healthcare’s current suppliers, which are frequently supported by long-term supply contracts, and the strict internal standards of contrast media manufacturers for feature and impurity profile, the barriers to entry for becoming a supplier to any of the large contrast media manufacturers are high. (Report from IQVIA, source)
As a result, the creation and production of contrast media intermediates continues to be a niche market with few competitors.
Blue Jet Healthcare IPO
Blue Jet Healthcare Limited, headquartered in Mumbai has submitted Draft Red Herring Prospectus(DRHP) to Securities and Exchange Board of India(SEBI) for initial public offering (IPO) of 21,683,178 Equity Shares on 02 September 2022.
The offer doesn’t includes any fresh issue and there is offer for sale (OFS) of 21,683,178 Equity Shares by the promoters mentioned in the DRHP. They are not looking for any Pre-IPO placement in this issue.
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- Initial Public Offering
They are now waiting for approval from Securities and Exchange Board of India(SEBI) to float the initial public offering (IPO) in the market.
Financials Trends
| Particulars | For the year/period ended ( in Cr.) | ||||
|---|---|---|---|---|---|
| 31-Mar-22 | 31-Mar-21 | 31-Mar-20 | |||
| Total Assets | 713.38 | 536.27 | 375.39 | ||
| Total Revenue | 7,02.88 | 507.81 | 544.01 | ||
| Profit After Tax | 181.59 | 135.79 | 144.96 | ||
Basic and Diluted Earnings Per Share
| Financial Period | Basic EPS (in INR) | Diluted EPS (in INR) | Weight |
| Financial Year 2020 | 8.35 | 8.35 | 3 |
| Financial Year 2021 | 7.98 | 7.98 | 2 |
| Financial Year 2022 | 10.47 | 10.47 | 1 |
| Weighted Average | 9.29 | 9.29 | |
Objects of the Issue
- Prepayment / repayment of all or a portion of the outstanding borrowings of the company to be availed on consolidated basis.
- To meet common corporate objectives.
Basis of the offer
Blue Jet Healthcare limited feel that the following qualitative factors & business strengths enable them to compete successfully in the industry, and that these factors will be used to calculate the offer price:
- India has a substantial industry producing intermediates for contrast media.
- Existence in highly competitive specialised markets.
- Partnerships that have been in place for a long time and contracts that are for several years.
- Strong capabilities for process improvement and product creation with an emphasis on sustainability.
Blue Jet Healthcare Peer Comparison
In India, there are no publicly traded businesses that are involved in every facet of the industry they operate in. As a result, it is impossible to compare their company to others in its field.
Blue Jet Healthcare IPO Details
| IPO Opening Date | January 2023 |
| IPO Closing Date | January 2023 |
| Issue Type | Book Building |
| Face Value | 2 per share |
| IPO Price | 0 to 0 per equity share |
| Market Lot | – |
| Min Amount | – |
| Listing At | BSE, NSE |
| Issue Size | 21,683,178 Equity Shares |
| Fresh Issue | 0 Crore |
| Offer for Sale | 21,683,178 Equity Shares |
Blue Jet Healthcare IPO Date
Blue Jet Healthcare Limited IPO opening date is January 2023, and the closing date is January 2023. The Blue Jet Healthcare issue may list in January 2023.
| IPO Opening Date | January 2023 |
| IPO Closing Date | January 2023 |
| Basis of Allotment Date | January 2023 |
| Initiation of Refunds | January 2023 |
| Credit of Shares to Demat Account | January 2023 |
| IPO Listing Date | January 2023 |
Basis of Allotment
| Type | % of Offer | Basis of Allotment |
|---|---|---|
| Qualified Institutional Buyer | 50 |
Roughly equivalent
|
| Non Institutional Investor | 15 |
Roughly equivalent
|
| Retail | 35 | Minimum 1 lot based on availability |
Blue Jet Healthcare India Limited IPO Status
Allotment of equity stocks subject to the Fresh Issue and transfer of the Promoter Selling Shareholders’ OFS Stocks to the winning Bidders subject to the Offer for Sale. Nevertheless, the status of the allotment has yet to be revealed.
Here, you can find the Allotment Status of Blue Jet Healthcare IPO.
Blue Jet Healthcare IPO GMP
Blue Jet Healthcare Limited IPO Grey Market Premium is 0. You can check out GMP of Other IPOs on below Links:
| Date | GMP (in Rs) | Subject to Sauda | Kostak (in Rs) |
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Check Out the GMP of all Other IPOs
Blue Jet Healthcare Limited IPO Review
Blue Jet Healthcare Limited IPO review will depend on the price band which will be announced after SEBI approval. Whenever it will be announced we will update you regarding review of Blue Jet Healthcare IPO is good or bad.
Blue Jet Healthcare Limited IPO Risk
- Its company’s success depends on the selling of their goods to a select group of important clients, especially those in controlled areas like Europe and the US.
- Their business, financial situation, and prospects would suffer if they are unable to commercialize new items in a timely manner.
- Their business & cash flows may all suffer if they are unable to successfully increase their production capacity.
- Their business, operating results, financial situation, and cash flows can all suffer if their manufacturing processes slow down or stop entirely.
- They submitted some corporate records, documents, and other documents to the Registrar of Companies that are not traceable.
- They have not filed our audited consolidated financial statements for Financial Year 2020 in a timely manner.
Other Threats
- Their business may suffer if the supply or transportation of raw materials is delayed, interrupted, reduced, or priced beyond of reach for them to use in the production of their goods.
- Their inability to manage stocks and forecast demand for their items with accuracy could hurt their business, operations, financial status, and cash flows.
- Foreign exchange risks they confront could have a negative impact on their business, cash flows and operational outcomes.
- They demand a sizable amount of working capital. They risk damaging their business if they don’t generate enough cash to cover their needs for working capital.
- Any pandemic or broad public health disaster, including COVID-19, could have a negative effect on their operations, financial status, and cash flows.
ERP System
To better serve their clients, they provide contrast media intermediaries. They have developed trustworthiness and equity with their clients.
They have a competitive advantage in the global contrast media market, which is based on their long-standing business ties with the leading contrast media producers, in-depth knowledge of their clients’ needs, aptitude for developing new chemistry and processes, and successful track record of forward integration.
Some of the largest contrast media manufacturers, who are also their intermediate customers, prefer to enter into long-term supply agreements with intermediate players who have a track record of success and have demonstrated technological proficiency in upholding rigid standards for impurity and feature profiles. (Report from IQVIA, source)
Blue Jet Healthcare Limited IPO Brokerage views
Once the dates will be announced we will update the views of different brokerage firms regarding this IPO. Here is the views of different stock brokers regarding this Blue Jet Healthcare IPO:
- Yes Securities : Not Updated
- Choice Brokering: Not Updated
- Axis Securities: Not Updated
- IIFL Securities: Not Updated
- Trade swift: Not Updated
- Anand Rathi : Not Updated
- ICICI Securities: Not Updated
Blue Jet Healthcare Limited IPO Subscription Status
| Date | Day | QIB | NII | Retail | Employees | Total Subscription |
| January 2023 | 1 | |||||
| January 2023 | 2 | |||||
| January 2023 | 3 |
Blue Jet Healthcare Limited Management
Blue Jet Healthcare limited have a skilled and knowledgeable management team, which has enabled them to quickly implement their capital expenditure plans while accommodating changing client expectations.
Akshay Bansarilal Arora, their executive chairman, has more than three decades of huge experience in business operations, project management, and corporate growth.
Shiven Akshay Arora, their managing director, has more than six years of business management experience. Naresh Suryakant Shah has worked for their organization for more than three decades as an executive director and has more than three decades of marketing experience.
Their Chief Operating Officer, Vimalendu Kumar Singh, is in charge of its operations and has huge experience in formulations, drug delivery, APIs, company development, corporate strategy, and mergers and acquisitions.
Blue Jet Healthcare Limited‘ Promoters
- Akshay Bansarilal Arora
- Shiven Akshay Arora
- Archana Akshay Arora
Principal Shareholder’s Holding
| Pre Issue Share Holding | 99.99% |
| Post Issue Share Holding |
Blue Jet Healthcare Limited Prospectus
Contact Details
Blue Jet Healthcare Limited
701, 702, 7th Floor, Bhumiraj Costarica, Sector
18, Sanpada, Navi Mumbai, Thane – 400 705,
Maharashtra, India
Tel: +91 (22) 4184 0550
E-mail: [email protected]
Website: www.bluejethealthcare.com
Registrar
Link Intime India Private Limited
C-101, 247 Park, 1st Floor,
L.B.S. Marg, Vikhroli (West)
Mumbai 400 083, Maharashtra
Telephone: +91 (22) 4918 6200
E-mail: [email protected]
Website: www.linkintime.co.in
Lead Manager(s)
- Kotak Mahindra Capital Company Limited
- ICICI Securities Limited
- J.P. Morgan India Private Limited
We hope we are able to answer all your questions about Blue Jet Healthcare IPO. If you don’t have a Demat account, open it now with Zerodha best trading app of India.
Disclaimer
The reference of IPO Grey Market Premium (IPO GMP) is only valid for the date specified in the header.
On the IPO Grey Market, we do not purchase or sell IPO forms.
The Kostak Rate is the profit earned by selling an IPO application (in an off-market transaction) to somebody else before the issue is allotted or listed.
Do not subscribe to an IPO based solely on the premium price, as it may alter at any time before to the listing. Only consider the fundamentals of the companies when subscribing.
The GMP rates for IPOs are based on market intelligence. Please keep in mind that these IPO GMP rates may vary by geography and market.
Note:
Profit must do not engage in grey market trading or facilitate the purchase or sale of IPO forms. We don’t endorse such activities at all. We are sticky against such activities & never advise anyone to trade in grey market at all.
FAQ
Blue Jet Healthcare Limited IPO Opening Date?
Blue Jet Healthcare Limited IPO will open in January 2023.
Blue Jet Healthcare Limited IPO Listing Date?
Blue Jet Healthcare Limited IPO will list in January 2023.
Blue Jet Healthcare IPO GMP Today?
Blue Jet Healthcare IPO Grey Market Premium is INR 0 .
Blue Jet Healthcare Limited IPO Allotment Date?
Blue Jet Healthcare Limited IPO basis of allotment will be in January 2023.
Lot size for Blue Jet Healthcare Limited IPO?
Lot size for Blue Jet Healthcare Limited IPO is 0.
