Blue Jet Healthcare IPO
Blue Jet Healthcare IPO — date, price band, lot size & details 2023
Blue Jet Healthcare listed on 1 Nov 2023 at ₹380, 9.8% above the ₹346 issue price.
Blue Jet Healthcare makes speciality pharmaceutical and healthcare ingredients and intermediates, such as contrast media intermediates and high intensity sweeteners. Its total income was Rs 744.94 crore in FY2023.
Stock price
Blue Jet Healthcare is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 25 Oct 2023
- Close 27 Oct 2023
- Allotment 30 Oct 2023
- Refund/credit 31 Oct 2023
- Listing 01 Nov 2023
Issue summary
The terms of the offer, as filed.
| IPO Dates | 25 to 27 Oct, 2023 |
|---|---|
| Price Band | ₹329 – ₹346 |
| Face Value | ₹2 |
| Lot Size | 43 Shares |
| Issue Size | ₹840.27 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,878 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 43 shares at the ₹346 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 43 | ₹14,878 |
| Retail (max) | 13 | 559 | ₹1,93,414 |
| S-HNI (min) | 14 | 602 | ₹2,08,292 |
| S-HNI (max) | 67 | 2,881 | ₹9,96,826 |
| B-HNI (min) | 68 | 2,924 | ₹10,11,704 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 507.81 crore in FY2021 to Rs 744.94 crore in FY2023, as per the RHP.
- 02The company had no borrowing on 30 June 2023.
- 03The source puts the PAT margin at 22.27% and return on net worth at 23.48%.
- 04Net worth grew from Rs 339.82 crore on 31 March 2021 to Rs 725.68 crore on 30 June 2023.
- 05It has long-term contracts of 1 to 5 years with its largest customers.
Risks · 5
- 01The whole Rs 840.27 crore issue was offer for sale by the promoters, so no money went to the company.
- 02Profit after tax fell from Rs 181.59 crore in FY2022 to Rs 160.03 crore in FY2023.
- 03Its ten largest customers made up over 80% of revenue in each period shown.
- 04The pre-issue P/E was 37.49 at the upper band of Rs 346, as per the source.
- 05Promoter holding fell from 99.99% before the issue to 86% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Blue Jet Healthcare offer document.
| Metric | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 903.80 | 862.07 | 713.38 | 536.27 |
| Revenue from Operations | 179.54 | 720.98 | 683.47 | 498.93 |
| Total Income | 184.60 | 744.94 | 702.88 | 507.81 |
| Profit After Tax | 44.12 | 160.03 | 181.59 | 135.79 |
| NET Worth | 725.68 | 681.49 | 521.54 | 339.82 |
| Total Borrowing | 0.00 | 0.00 | 0.00 | 51.55 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Blue Jet Healthcare RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Blue Jet Healthcare IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| P/E Ratio (x) | 37.49 | 34.02 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹346 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the Blue Jet Healthcare IPO will be updated shortly.
About the company
It started as the first maker of saccharin and its salts in India and later expanded into contrast media intermediates used in CT scans and MRIs. Its three product groups are contrast media intermediates, high intensity sweeteners, and pharma intermediates and APIs.
On 30 June 2023 it ran three manufacturing facilities at Shahad, Ambernath and Mahad in Maharashtra, and an R&D laboratory in Ambernath. It has long-term contracts with its largest customers.
The IPO was Rs 840.27 crore and was entirely an offer for sale by the promoters, so the company received none of the money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Blue Jet Healthcare IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
ICICI Securities
133 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Kotak Mahindra Capital Company Limited
93 issues handledBest listing: Premier Energies (+120.0%). Weakest: Rategain Travel Technologies (-15.3%).
JP Morgan India Pvt. Ltd
22 issues handledBest listing: Premier Energies (+120.0%). Weakest: Nuvoco Vistas Corporation (-14.9%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Blue Jet Healthcare?
The current Grey Market Premium is ₹21, or 6% over the issue price.
What is the Blue Jet Healthcare IPO price band?
₹329 to ₹346, on a face value of ₹2.
When is the allotment?
The basis of allotment is 30 October 2023, with listing on 1 November 2023.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
