© Reuters.
Blue Jet Healthcare’s initial public offering (IPO), led by the Arora family, witnessed a robust investor response today, despite the prevailing market turbulence. The Maharashtra-based pharmaceutical firm registered bids for 17.3 million shares against an issue size of 17 million, translating to a subscription rate of 1.02 times.
Retail investors and high net worth individuals (HNIs) demonstrated significant interest in the IPO, purchasing 1.13 times and 2.1 times their respective quotas. However, qualified institutional buyers showed a more measured enthusiasm, bidding for only 1% of their share.
The company’s IPO aims to raise Rs 840.27 crore (Rs 1 crore = $120,127) through an offer-for-sale of 24 million shares priced between Rs 329-346 ($1 = Rs 83.2) each. The share allocations have been divided among qualified institutional buyers (50%), HNIs (15%), and retail investors (35%).
In the grey market, Blue Jet Healthcare’s shares attracted a premium of 10%. Anchor book investors who participated in the offering included notable names such as Societe Generale (OTC:), HDFC Mutual Fund, HSBC Global, Government Pension Fund Global, ICICI Prudential Mutual Fund, BNP Paribas (OTC:) Arbitrage, Aditya Birla Sun Life Insurance Company, and Troo Capital.
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