Blue Jet Healthcare IPO
Blue Jet Healthcare Limited
₹14,147 /43 sharesMinimum Investment
Blue Jet Healthcare IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| BSE & NSE | ₹346.00 | ₹380.00 | ₹34.00 (9.83%) |
Blue Jet Healthcare IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 25 Oct ‘23 - 27 Oct ‘23 | ₹14,147 | 43 | ₹329 - ₹346 |
| Issue Size | IPO Doc |
|---|---|
| 840.27Cr | RHP PDF |
Subscription Status As on 27 Oct '23, 5:25 PM
- Qualified Institutional Buyers13.72x
- Non-Institutional Investor13.59x
- Retail Individual Investor2.22x
- Employees0.00x
- Total7.94x
About Blue Jet Healthcare
Blue Jet Healthcare specializes in pharmaceutical and healthcare ingredients. It focuses on products designed for pharmaceutical companies and generic pharmaceutical companies worldwide. Since its start in 1968, Blue Jet Healthcare has built a contract development and manufacturing organization (CDMO) business model. This model includes expertise in contrast media intermediates and high-intensity sweeteners.
Blue Jet Healthcare creates a wide range of products in-house, from starting intermediates to advanced ones.
The company's operations are organized into 3 main product categories: contrast media intermediates, high-intensity sweeteners, and pharmaceutical intermediates and active pharmaceutical ingredients (APIs).;
Parent Organisation
Blue Jet Healthcare Limited
Founded
1968
Managing Director
Mr. Shiven Akshay Arora
Strengths & Risks
- Blue Jet Healthcare contributed to more than 75% of the value of selected contrast media intermediates from India between 2020 and 2022.
- In 2020, they introduced a new contrast media intermediate that is the foundation for all gadolinium-based contrast media.
- In the past 3 financial years and the 3 months ending June 30, 2023, the company invoiced more than 400 customers in 39 countries.
- Blue Jet Healthcare engages in both annual and multi-year supply agreements, ranging from one to four years. More than 70% of their total sales in 2021, 2022, and 2023, as well as the three months ending June 30, 2023, stemmed from contracted sales volumes through annual and multi-year contracts.
- Blue Jet Healthcare has fostered partnerships with key clients, including Colgate-Palmolive (India) Limited, Unilever, Prinova US LLC, MMAG Co. Ltd, etc.
- Over the past five decades, their R&D center has been instrumental in developing over 100 products, with more than 40 of them reaching commercialization.
- With three manufacturing facilities situated in Shahad, Ambernath, and Mahad in Maharashtra, the company has an annual installed capacity of 200.60 KL, 607.30 KL, and 213.00 KL, respectively, as of June 30, 2023.
- As customer demand grows, Blue Jet Healthcare's production capacity has expanded, from a combined installed capacity of 230 KL as of March 31, 2018, to 1,020.90 KL as of June 30, 2023.
- Blue Jet Healthcare relies on a small group of key customers. The loss of any of these customers or decreased product demand could negatively impact the company's business, financial health, and overall performance.
- A substantial portion of Blue Jet Healthcare's revenue comes from regulated markets in Europe and the United States. Any failure to introduce new products promptly could have detrimental effects on the company's business and prospects.
- The company is also exposed to counterparty credit risk; delays or non-receipt of payments may adversely impact its operations.
- Blue Jet Healthcare heavily depends on a limited number of raw material suppliers, with the three largest in China, Norway, and India. Any delays, interruptions, cost increases in raw material supply, or transportation may negatively affect the company's business, financial performance, and cash flow.
- Foreign exchange risks pose another threat that could adversely impact the company's financial results and cash flow.
- Blue Jet Healthcare's manufacturing facilities and procurement operations are concentrated in Maharashtra. Any unfavorable developments affecting this region could harm the company's business, financial condition, and operational results.
- The company's involvement in legal and regulatory proceedings could also be a risk. An adverse decision in such proceedings may significantly affect Blue Jet Healthcare's business and financial condition.
- The company benefits from certain incentive schemes, and any reduction or discontinuation of these schemes may affect its operational results.
- Blue Jet Healthcare has contingent liabilities, which, if realized, may impact its operational results, financial condition, and cash flow. As of June 30, 2023, the company's contingent liabilities amounted to Rs. 0.912 crore.
Financials
*All values are in Rs. Cr
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Application details
| Apply as | Price band | Apply upto |
|---|---|---|
| Regular | ₹329 - 346 | ₹2 Lakh |
| High Networth Individual | ₹329 - 346 | ₹2 - 5 Lakh |
For Blue Jet Healthcare IPO, eligible investors can apply as Regular.
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