Today is the opening day for subscription to the BlueJet Healthcare IPO; here are the GMP, share price, and subscription status. Should You Buy Or Not?
The subscription period for BlueJet Healthcare’s initial public offering (IPO) began today, October 25, and ends on Friday, October 27. The public offering is being recommended for listing on the BSE and NSE, and the business has set its price range at Rs 329 to Rs 346 per equity share.
According to sources, 22 investors participated in the anchor book offering, as stated in Blue Jet Healthcare Limited’s exchange filing. ICICI Prudential Funds, HDFC Mutual Fund, Nippon Life India, Aditya Birla Sun Life Insurance, Government Pension Fund Global, HSBC Global Investment Funds, Edelweiss Trusteeship, and BNP Paribas were a few of the well-known investors on the list.
Today’s BlueJet Healthcare IPO GMP
The BlueJet Healthcare shares have already debuted on the black market. According to market watchers, Blue Jet Healthcare shares are trading on Wednesday at a premium of Rs 85 per share.
According to investorgain.com, Blue Jet Healthcare’s shares were trading at a premium of Rs 63 on Tuesday on the gray market.
The projected listing price for Blue Jet Healthcare’s shares is Rs 409 per share, up 18.21% from the IPO price of Rs 346, based on the higher end of the IPO pricing range and the current premium seen in the grey market.
IPO subscription status for BlueJet Healthcare
The public issue has a subscription rate of 0.08 as of 10:36 AM on the first day of bidding, while the retail part has a subscription rate of 0.12. Furthermore, the book construction issue’s NII (Non-Institutional Investors) component has received a subscription rate of 0.09.
Review by Analysts
“BJHL is primarily a Contract Development and Manufacturing Organization (CDMO), with CDMO activities accounting for over 75% of the company’s revenue. Its product profile is specialized, and during the course of business, it has formed enduring relationships with customers. As a consequence, it can now derive almost 70% of its overall revenue from long-term contracts with these types of customers. The firm claimed significant business growth between FY20 and FY23, but rising raw material prices had an adverse effect on profitability. Despite a threefold increase in net value, RoE was solid. Future profits for BJHL will come from stable demand for its goods and falling or stabilizing raw material costs. It has planned a number of brownfield and new construction projects, increasing installed capacity by around 50% over FY25E. Therefore, one may subscribe to this public issue since Blue Jet Healthcare has great development potential and a comfortable value, according to Choice Broking’s assessment.
Reliance Securities has also assigned the BlueJet Healthcare IPO a “Buy” rating. With more than 20 years of expertise, specific chemical skills, and dedicated R&D labs, BJHL is one of the cutting-edge businesses in specialized markets. The company provides a range of products in formulations for highly concentrated contrast media. Moving ahead, the management is implementing a sensible strategy of revenue diversification with a focus on exports and a product mix with strong margins. Earnings will improve over the next several years as a result of increased expansion over the next two years for the anticipated increase in demand and the use of client connections for the pharma intermediates and API categories. We advise that you SUBSCRIBE to the problem, according to Reliance Securities.
