Blue Jet Healthcare IPO Attracts ₹252.08 Crore from Anchor Investors

Blue Jet Healthcare IPO Attracts ₹252.08 Crore from Anchor Investors

VoM News Desk | October 24, 2023 | 12:18 PM IST | Breaking News | Follow on Google News

Blue Jet Healthcare IPO Attracts ₹252.08 Crore from Anchor Investors

Blue Jet Healthcare IPO Attracts ₹252.08 Crore from Anchor Investors

In a promising development for Blue Jet Healthcare’s Initial Public Offering (IPO), the company successfully attracted a capital infusion of ₹252.08 crore through an anchor book process on October 23. This signifies a strong vote of confidence from anchor investors ahead of the IPO’s opening.

IPO Opens on October 25

Blue Jet Healthcare’s IPO is set to open on October 25, providing an opportunity for retail and institutional investors to participate. The IPO subscription window is scheduled to close on October 27. Investors have shown keen interest in this offering, making it a significant event in the financial market.

Anchor Book Participants

A total of 22 investors actively participated in the anchor book offering for Blue Jet Healthcare. Some of the notable names among these investors include ICICI Prudential Funds, HDFC Mutual Fund, Nippon Life India, Aditya Birla Sun Life Insurance, Government Pension Fund Global, HSBC Global Investment Funds, Edelweiss Trusteeship, and BNP Paribas. Their involvement underscores the diverse interest and positive sentiment surrounding the IPO.

Allocation of Equity Shares

The anchor book process resulted in the allocation of 7,285,548 equity shares to anchor investors, with each share valued at ₹346. Of this allocation, a substantial portion, specifically 3,229,687 equity shares, representing 44.3% of the total, were allocated to five domestic mutual funds through eight schemes. This diversification in allocation reflects the strong institutional interest in Blue Jet Healthcare’s IPO.

Blue Jet Healthcare IPO Overview

Blue Jet Healthcare’s IPO is structured as an offer for sale (OFS) of 24,285,160 equity shares, with no fresh issue component. The total size of the IPO stands at ₹840.27 crore. The promoters of the company include Shiven Akshay Arora, Akshay Bansarilal Arora, and Archana & Akshay Arora. Shiven Akshay Arora is set to sell up to 5,918,849 equity shares, while Akshay Bansarilal Arora will sell up to 18,366,311 equity shares.

Key Management and Advisors

The book running lead managers for the Blue Jet Healthcare IPO are Kotak Mahindra Capital Company Limited, ICICI Securities Limited, and J.P. Morgan India Private Limited. The registrar for the offering is Link Intime India Private Ltd.

Financial Performance

Reports indicate that between March 31, 2022, and March 31, 2023, Blue Jet Healthcare Limited’s profit after tax (PAT) decreased by 11.88%, while its revenue showed a growth of 5.98%.

Market Sentiment and Grey Market Premium (GMP)

In the grey market, Blue Jet Healthcare IPO is showing strong positive sentiment, with a Grey Market Premium (GMP) of +63. This indicates that Blue Jet Healthcare shares are trading at a premium of ₹63 in the grey market. Considering the upper end of the IPO price band and the current GMP, the estimated listing price is projected to be ₹409 per share, which is 18.21% higher than the IPO price of ₹346.

Anticipation for a Strong Listing

The GMP for Blue Jet Healthcare IPO has been trending upward, and investors are anticipating a robust listing. The GMP has ranged from ₹0 to ₹95 based on recent activities in the grey market, highlighting innvestor eagerness to secure shares at a premium.

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VoM News Desk

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