Blue Jet Healthcare Limited, a leading pharmaceutical and healthcare ingredient company in India, has recently concluded its Initial Public Offering (IPO), which saw strong demand from investors. The IPO was oversubscribed nearly eight times, showcasing the robust interest in the company's unique product offerings. The total issue size of the IPO stood at ₹840.27 crores (INR100 crore = approx. USD12 million).
The company operates in a specialty market with high entry barriers, producing distinctive products such as contrast media intermediates and high-intensity sweeteners. Blue Jet Healthcare's production takes place at its three manufacturing facilities located in Maharashtra.
The IPO closed last Friday, October 27, with the basis of allotment set to be finalized today. Investors are expected to have shares credited to their demat accounts by this Friday, November 3. Furthermore, the company's shares are scheduled to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Monday, November 6.
The offer for sale included 24,285,160 shares at a face value of ₹2 per share, with a price band of ₹329 to ₹346 per share.
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