November 1, 2023
New Delhi, India
Blue Jet IPO Listing Today
Blue Jet Healthcare, a Maharashtra-based pharma company, made a successful debut on Dalal Street, showcasing a promising performance in its stock market launch.
IPO Overview
Blue Jet Healthcare’s Initial Public Offering (IPO) began on October 25, closing on October 27. The company offered 24,285,160 equity shares solely through an Offer for Sale (OFS) at a value of ₹840.27 crore. The IPO saw substantial interest from investors, with the subscription reaching a high of 7.94 times by the third day.
Subscription Details
The IPO garnered significant attention from various investor segments. Notably, the Qualified Institutional Buyers (QIB) portion was subscribed 13.72 times, the Non-Institutional Investors (NII) portion reached 13.59 times, and retail investors subscribed 2.22 times.
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Listing Performance
Blue Jet Healthcare’s shares debuted on both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) at different prices. On the NSE, the share price opened at ₹380 per share, marking a 9.8% premium over the issue price of ₹346. Meanwhile, the BSE witnessed a debut at ₹359.90 per share, exhibiting a 4% increase from the issue price.
Company Structure and Offering
The company’s promoters, Shiven Akshay Arora, Akshay Bansarilal Arora, and Archana & Akshay Arora, offered their shares through the IPO. Shiven Akshay Arora aimed to sell 5,918,849 equity shares, while Akshay Bansarilal Arora intended to sell up to 18,366,311 equity shares.
Market Experts’ Perspectives
Despite a strong debut, experts hold a cautious outlook due to the current grey market premium (GMP) and prevailing market sentiment. They anticipate a flat to moderately positive opening for the stock.
Conclusion
Blue Jet Healthcare’s entry into the stock market has been marked by a substantial premium, showcasing investor confidence and a positive start. However, market analysts remain cautious about its future performance.
Disclaimer:
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