Blue Jet Healthcare Ltd IPO
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Blue Jet Healthcare Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 242.85 L | ₹ 242.85 L | ₹ 85 L | ₹ 1,734.65 L | BSE | ₹ 840.27 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 25 Oct, 23 | 27 Oct, 23 | 43 | ₹ 14,147 | Book Building | 01 Nov, 23 |
Blue Jet Healthcare Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Pharmaceuticals - Indian - Bulk Drugs & Formln |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 5.49x | 12142580 | 66651247 |
| NII | 13.59x | 3642774 | 49514113 |
| Retail | 2.24x | 8499806 | 19021136 |
| Employee | 0x | 0 | 0 |
| Total | 5.57x | 24285160 | 135186496 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Blue Jet Healthcare Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 248.19 | 241.69 | 265.38 |
| EBITDA | 276.28 | 266.76 | 287.53 |
| PAT | 163.75 | 160.03 | 181.59 |
| Total Assets | 471.90 | 477.21 | 455.83 |
| Share Capital | 34.69 | 34.69 | 34.69 |
| Total Borrowings | 80.43 | 46.54 | 35.70 |
| Operating Activities (Net Cash) | 191.84 | 185.10 | 203.74 |
| Investing Activities (Net Cash) | 103.43 | 158.82 | 90.34 |
| Financing Activities (Net Cash) | 80.43 | 46.54 | 35.70 |
| Net Cashflow | 84.71 | 65.63 | 87.66 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Blue Jet Healthcare Ltd
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.
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.
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.
Peer Comparison:
- No Listed Industry Peers
Blue Jet Healthcare Ltd IPO Key Points
Strengths
- 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.
Risk
- 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.
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.
- 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.
How To Apply for Blue Jet Healthcare Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.