Blue Jet Healthcare IPO subscribed 1.32 times on day two of offer

Blue Jet Healthcare IPO: The Preliminary Public Providing (IPO) of pharmaceutical ingredient maker Blue Jet Healthcare was subscribed 1.32 occasions on the day two of subscription on Thursday. The Rs 840.27-crore IPO acquired bids for two,24,16,115 shares, in opposition to 1,69,99,612 shares on provide, as per NSE information.

The portion for non-institutional traders was subscribed 2.84 occasions, whereas the class for Retail Particular person Traders (RIIs) acquired 1.37 occasions subscription.

The Certified Institutional Patrons (QIBs) half received subscribed 9 per cent.

The preliminary public providing of as much as 24,285,160 fairness shares has a value vary of Rs 329-346 a share.

Blue Jet Healthcare has mobilised Rs 252 crore from anchor traders.

The Mumbai-based agency, which operates beneath the model identify of “Blue Jet”, is providing area of interest merchandise focused in the direction of innovator pharmaceutical firms and multinational generic pharmaceutical firms.

Its enterprise mannequin focuses on the collaboration, growth and manufacturing of advanced chemistry classes.

Over the previous 5 a long time, the corporate has developed over 100 merchandise, of which over 40 have been commercialised, the corporate mentioned.

As of June 30, 2023, the corporate had three manufacturing amenities in Shahad, Ambernath, and Mahad in Maharashtra.

Additional, in its efforts to develop the capability in FY21, it acquired a “greenfield” industrial facility on a leasehold foundation in Ambernath.

Kotak Mahindra Capital Firm, ICICI Securities and J P Morgan India are the managers to the provide.

The fairness shares of Blue Jet Healthcare are proposed to be listed on the BSE and the NSE.

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