Blue Jet Healthcare Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹346
Per ShareLot Size
43 Shares
Minimum Investment
₹14,878
Issue Size
₹840.27 Cr
Face Value
₹2
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Blue Jet Healthcare Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
99.99%
Promoter Holding (Post-Issue)
86%
Issue Type
Book Building
ISIN
INE0KBH01020
About the Company
Blue Jet Healthcare Limited develops and supplies speciality pharmaceutical and healthcare ingredients and intermediates under a contract development and manufacturing organization business model. The Company has specialized chemistry capabilities in contrast media intermediates and high-intensity sweeteners. The Company has built a long-term customer base of innovator and multi-national generic pharmaceutical companies, supported by multi-year contracts. It supplies a critical starting intermediate and several advanced intermediates to three of the largest contrast media manufacturers in the world, including GE Healthcare AS, Guerbet Group, and Bracco Imaging S.p.A. It also supplies high-intensity sweeteners to several multi-national companies, including Colgate Palmolive (India) Limited and Unilever.
Industry Overview
The moving annual turnover1 of the global contrast media formulation market was approximately US$5.9 billion for June 2023, and is forecasted to grow at a CAGR of 6% to 8% between calendar years 2023 and 2025, primarily led by increased volumes. The global high-intensity sweetener market was approximately US$2.9 billion to US$3.0 billion, as of the calendar year 2023. The end product markets for high-intensity sweeteners, including oral care and non-alcoholic beverages, among others, are expected to grow at CAGRs of between 3% and 8% during calendar years 2023 to 2026.
Company History
Blue Jet Healthcare Limited was originally incorporated as `Jet Chemicals Private Limited,' under the provisions of the Companies Act, 1956, at Mumbai, pursuant to a certificate of incorporation dated December 7, 1968, issued by the Registrar of Companies, Maharashtra at Mumbai. Pursuant to its Shareholders' resolution dated December 28, 2020, the name of the Company was changed to 'Blue Jet Healthcare Private Limited', and a fresh certificate of incorporation dated December 30, 2020, was issued by the Registrar of Companies, Maharashtra at Mumbai. Subsequently, the Company was converted into a public limited company, and pursuant to a special resolution of its Shareholders dated May 5, 2022, and the name of the Company was changed to `Blue Jet Healthcare Limited' A fresh certificate of incorporation was issued by Registrar of Companies, Maharashtra, at Mumbai on May 18, 2022.
Products & Services
- The Company develops and supplies speciality pharmaceutical and healthcare ingredients and intermediates under a contract development and manufacturing organization business model.
Growth Strategy
- Continue to forward integrate into more advanced intermediates for Contrast Media.
- Leverage its long-standing customer relationships to continue entering adjacencies in the pharma intermediate and API category.
- Build additional production capacity to keep in step with the envisaged increase in customer demands.
- Continue to invest in R&D infrastructure and capabilities.
- Focus on operational efficiency and mitigation of supply chain risks.
Customer Base
Wholesalers and Retailers
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a standalone basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of 24,285,160* equity shares of face value of Rs. 2 each ("Equity Shares") of Blue Jet Healthcare Limited (the "Company" or the "Issuer") for cash at a price of Rs. 346 per equity share (including a share premium of Rs. 344 per equity share) ("Offer Price") aggregating to Rs. 840.27 crores* (the "Offer"). The offer comprises of an offer for sale of 24,285,160* equity shares ("Offered Shares") aggregating to Rs. 840.27 crores*, including 18,366,311* equity shares aggregating to Rs. 635.47 crores* by Akshay Bansarilal Arora and 5,918,849* equity shares aggregating to Rs. 204.79 crores* by Shiven Akshay Arora (collectively referred as "Selling Shareholders" and such offer for sale by the selling shareholders, the "Offer for Sale"). The offer constituted 14.00 % of the post-offer paid-up equity share capital. The offer price is 173.00 times the face value of the equity shares. *Subject to finalization of basis of allotment
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Large manufacturer of contrast media intermediates in India.
- Presence in niche categories with high barriers to entry.
- Long-standing relationships and multi-year contracts with multi-national customers.
- Strong product development and process optimization capabilities with a focus on sustainability.
- The company's business is dependent on the sale of its products to a few key customers, including those in Europe and the United States, which are regulated markets. The loss of one or more such customers, the deterioration of their financial condition or prospects, or a reduction in their demand for its products could adversely affect its business, results of operations, financial condition and cash flows.
- If the company is not able to commercialize new products in a timely manner, its business, financial condition and prospects will be adversely affected.
- The company's inability to successfully expand its production capacity could have an adverse effect on its business, results of operations, financial condition and cash flows.
- A slowdown or shutdown in its manufacturing operations could have an adverse effect on its business, results of operations, financial condition and cash flows.
- Certain documents filed by it with the Registrar of Companies and certain corporate records and other documents, are not traceable.