Blue Jet Healthcare IPO Subscribed 1.32 Times On Day 2

Blue Jet Healthcare Ltd. launched its initial public offering on Oct. 25. The specialty pharmaceutical and healthcare ingredients and intermediates company plans to raise Rs 840.3 crore via an offer for sale. The IPO was subscribed 69% on day 1.

The offer for sale of 2.42 crore shares will be sold in the fixed price band of Rs 329-346 per share. The IPO issue closes on Oct. 27

The company will not receive any proceeds from this offer, and all offer proceeds will be go to the selling shareholders.

• Anchor investor bidding date: Oct. 23.

• Issue opens: Oct. 25.

• Issue closes: Oct. 27.

• Total issue size: 2.42 crore shares.

• Offer for sale size: 2.42 crore shares.

• Total issue: Rs 840.3 crore.

• Price band: Rs 329–346 per share.

Blue Jet Healthcare is a specialty pharmaceutical and healthcare ingredients and intermediates company, offering niche products targeted towards innovator pharmaceutical companies and multi-national generic pharmaceutical companies.

The company's operations are primarily organised in three product categories:

• Contrast media intermediates.

• High-intensity sweeteners.

• Pharma intermediates and active pharmaceutical ingredients

The IPO has been subscribed 1.32 times as of 5:00 p.m. on Thursday.

• Institutional investors: 0.09 times or 9%

• Non-institutional investors: 2.84 times.

• Retail investors: 1.37 times.