Curated By: Business Desk
Last Updated: October 26, 2023, 12:00 IST
Blue Jet Healthcare IPO is open for subscription until October 27.
The share of non-institutional buyers was subscribed 1.37 occasions and the retail particular person investor class obtained 78% subscription.
The Initial Public Offering (IPO) of pharmaceutical ingredient maker Blue Jet Healthcare Ltd noticed an excellent response from buyers after it was opened for subscription on Wednesday. It was subscribed 69 per cent on the primary day. According to information out there on the NSE (National Stock Exchange) official web site, Blue Jet Healthcare’s IPO obtained bids for 1,16,53,645 shares in opposition to the 1,69,99,612 shares on provide.
The share of non-institutional buyers was subscribed 1.37 occasions and the retail particular person investor class obtained 78 per cent subscription. Investors who bid for shares value over Rs 2 lakh in any IPO are known as non-institutional buyers. A retail investor, also called a person investor, is a non-skilled investor. They purchase and promote securities or funds that include a basket of securities resembling mutual funds and alternate-traded funds.
The Blue Jet Healthcare IPO is now utterly for Offer for Sale (the promoters (house owners) promote their shares to boost extra funds for the corporate) (OFS). The worth band of this concern has been fastened at Rs 329-346 per share. Blue Jet Healthcare has raised Rs 252 crore until now from the anchor buyers.
In this quantity, Rs 72.85 lakh fairness shares have been allotted to 22 funds at Rs 346 per share. The IPO is prone to elevate Rs 799 crore on the decrease restrict of the value vary and Rs 840.27 crore on the higher restrict. According to Blue Jet, many famend names are included among the many anchor buyers like BNP Paribas Arbitrage SNC and Societe Generale Group. Aditya Birla Sun Life Insurance Company, ICICI Prudential Mutual Fund and HDFC Mutual Fund are additionally the buyers. Nippon India Mutual Fund, Edelweiss Mutual Fund and Government Pension Fund Global have additionally invested within the Blue Jet IPO.
This IPO is open for subscription until October 27 and buyers can bid for no less than 43 fairness shares. A retail investor can bid a minimal of Rs 14,147 to Rs 14,878 on this concern. The firm’s shares will likely be listed on each NSE and BSE (Bombay Stock Exchange). Blue Jet Healthcare was initially a saccharin and (synthetic sweetener) its salt maker in India.
