Blue Jet Healthcare is launching its IPO. The opens for subscription on 25th October and will close on 27th October.
What does Blue Jet Healthcare do?
Incorporated in 1968, Blue Jet Healthcare is a speciality pharmaceutical and healthcare ingredients and intermediates company with a contract development and manufacturing organization (CDMO) business model offering niche products targeted toward innovator pharmaceutical companies and multi-national generic pharmaceutical companies.
Operations of the company are primarily organized into three product categories:
(i) Contrast media intermediates
(ii) High-intensity sweeteners
(iii) Pharma intermediates and active pharmaceutical ingredients (APIs)
What is the issue size of Blue Jet Healthcare IPO?
The entire public offer of the company is an offer for sale (OFS) worth Rs. 840.27 crores from the existing shareholders.
Financials of Blue Jet Healthcare
| Financial Year | Total Assets (₹ crores) | Total Revenue (₹ crores) | Profit After Tax (₹ crores) | EPS | EBITDA (₹ crores) |
|---|---|---|---|---|---|
| March 31, 2021 | 536.27 | 507.81 | 135.79 | 7.98 | 206.05 |
| March 31, 2022 | 713.38 | 702.88 | 181.59 | 10.47 | 249.26 |
| March 31, 2023 | 862.07 | 744.94 | 160.03 | 9.23 | 219.08 |
Revenue break-up
| Particulars | FY23 | FY22 | FY21 |
|---|---|---|---|
| Contrast media intermediates | 70.57% | 70.61% | 71.54% |
| High-intensity sweeteners | 24.48% | 23.27% | 19.98% |
| Pharma intermediates and API | 4.73% | 6.08% | 8.45% |
| Others | 0.22% | 0.04% | 0.03% |
| Particulars | FY23 | FY22 | FY21 |
|---|---|---|---|
| Europe | 74.49% | 76.06% | 79.73% |
| India | 13.94% | 17.14% | 14.50% |
| USA | 4.88% | 4.18% | 3.44% |
| Others | 6.69% | 2.62% | 2.33% |
Risk factors to consider:
Dependence on key customers: Nearly 84% of the revenues of the company come from the top 10 customers. The loss of one or more such customers, the deterioration of their financial condition or prospects, or a reduction in their demand for the company’s products could adversely affect the business, results of operations, financial condition, and cash flows.
Dependence on European and the United States markets: The company generates nearly 80% of its revenue from Europe and the US which are highly regulated markets.
The entire offer is an OFS: The company will not receive any funds from the IPO as the issue is entirely an OFS by existing shareholders.
Schedule of Blue Jet Healthcare IPO
| Issue Period | 25th October to 27th October 2023 |
|---|---|
| Price band | ₹ 329 - 346 |
| Minimum Bid quantity | 43 & Multiples thereof |
| Deadline for accepting UPI mandate | Until 5 PM on the issue closing day |
| Finalization of Allotment | 1st November 2023 |
| Initiation of Refunds | 1st November 2023 |
| Credit of Shares | 3rd November 2023 |
| Date of Listing | 6th November 2023 |
| Mandate end date | 11th November 2023 |
| Anchor Investors Lock-In End Date | 26th November 2023 |
How to apply to the Blue Jet Healthcare Limited IPO?
You can apply for the Blue Jet Healthcare Limited IPO using any supported UPI app by following two steps:
- Enter your bid on Kite
- Accept the UPI mandate on your phone
On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.
How to check the allotment status for Blue Jet Healthcare Limited IPO?
You can check the allotment status for the Blue Jet Healthcare Limited IPO on the website of the Registrar and Transfer agent. Alternatively, you can also check the allotment status on the NSE website.