Upcoming IPO - Blue Jet Healthcare

About Company’s Business:

They operate as a company that specializes in the development and provision of pharmaceutical and healthcare ingredients and intermediates. Their business model primarily revolves around contract development and manufacturing services. Their core expertise lies in specialized chemistry, particularly in the production of contrast media intermediates and high-intensity sweeteners. Over the years, they have established a loyal customer base, catering to both innovators and multinational generic pharmaceutical firms through long-term contractual agreements. They play a pivotal role in the supply chain by providing essential starting intermediates and advanced intermediates to the world’s largest contrast media manufacturers, including GE Healthcare AS, Guerbet Group, and Bracco Imaging S.p.A. Furthermore, they are also trusted suppliers of high-intensity sweeteners to various multinational companies, such as Colgate Palmolive (India) Limited and Unilever.

About the Industry:

According to an IQVIA report, the worldwide contrast media formulation market achieved an annual turnover of roughly US$5.9 billion in June 2023. It is anticipated to experience a compound annual growth rate (CAGR) ranging from 6% to 8% between 2023 and 2025, primarily driven by an increase in product volumes. As for the global high-intensity sweetener market, the same report indicates that it reached a value of around US$2.9 billion to US$3.0 billion in the 2023 calendar year. The markets for end products using high-intensity sweeteners, which encompass categories like oral care and non-alcoholic beverages, are projected to exhibit CAGRs ranging from 3% to 8% from 2023 to 2026, as per the IQVIA report.

Key Financial Information:

Particulars As of June 30, 2023 As of June 30, 2022 As of March 31, 2023 As of March 31, 2022 As of March 31, 2021
Equity Share Capital (₹ million) 346.93 346.93 346.93 346.93 99.12
Net Worth (₹ million) 7,256.80 5,494.76 6,814.86 5,215.42 3,398.18
Total Income (₹ million) 1,846.04 1,488.77 7,449.38 7,028.81 5,078.13
Profit for the Period/Year (₹ million) 441.21 278.49 1,600.27 1,815.91 1,357.87
Earnings per Share (Basic) (₹) 2.54 1.61 9.23 10.47 7.98
Earnings per Share (Diluted) (₹) 2.54 1.61 9.23 10.47 7.98
Net Asset Value per Equity Share (₹) 41.83 31.68 39.29 30.07 19.59
Borrowings (₹ million) - - - - 515.52

Note: The values are in millions.

Objective of the Issue:

  1. To achieve the benefits of listing the Equity Shares on the Stock Exchanges.

  2. To carry out the Offer for Sale of up to 24,285,160 Equity Shares by the Selling Shareholders.

  3. General corporate purposes.

For more detailed information, you can refer to the IPO Prospectus (RHP) filed by the company.

Important information regarding the IPO
Open Date Wednesday, October 25, 2023
Close Date Friday, October 27, 2023
Issue Size ₹840.27 crores
Price ₹329 to ₹346 per share
Lot Size 43 Shares
Basis of Allotment Wednesday, November 1, 2023
Initiation of Refunds Wednesday, November 1, 2023
Credit of Shares to Demat Friday, November 3, 2023
Listing Date Monday, November 6, 2023

How to apply for this IPO?

You can locate the redirection link to the IPO on the home screen of the Dhan App. Alternatively, you can access it by navigating to the “Money” Section at the bottom right and swiping right to reach the “IPO” Tab.

Quick Apply for the IPO here!

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