Blue Jet Healthcare’s share price debuted at a premium when it was listed on the stock exchanges on Wednesday. On the National Stock Exchange (NSE), the share price of Blue Jet Healthcare opened at ₹380 per share, marking a 9.8% increase from the issue price of ₹346. Simultaneously, on the Bombay Stock Exchange (BSE), Blue Jet’s share price commenced trading at ₹359.90. The Blue Jet Healthcare Initial Public Offering (IPO) was open for subscription from October 25 and closed on October 27. On the third day of the subscription period, the Blue Jet Healthcare IPO was oversubscribed by a factor of 7.94. Specifically, the retail investors’ portion was oversubscribed by 2.22 times, the Non-Institutional Investors (NII) portion saw an oversubscription of 13.59 times, and the Qualified Institutional Buyers (QIB) portion was oversubscribed by 13.72 times.
The share allocation in the Blue Jet Healthcare IPO was as follows: not more than 50% of the shares were reserved for Qualified Institutional Buyers (QIB), not less than 15% for Non-Institutional Investors (NII), and not less than 35% of the offering was reserved for Retail Investors. Notably, the Blue Jet Healthcare IPO consisted solely of an offer for sale (OFS) of 24,285,160 equity shares, and there was no fresh issue component, as indicated in the Red Herring Prospectus (RHP). The total size of the Blue Jet Healthcare IPO amounted to ₹840.27 crore. The company’s promoters include Shiven Akshay Arora, Akshay Bansarilal Arora, and Archana & Akshay Arora.
Shiven Akshay Arora is set to divest a maximum of 5,918,849 equity shares, while Akshay Bansarilal Arora plans to sell up to 18,366,311 equity shares. The book-running lead managers overseeing the Blue Jet Healthcare IPO include Kotak Mahindra Capital Company Limited, ICICI Securities Limited, and J.P. Morgan India Private Limited. Handling the registration for the offering is Link Intime India Private Ltd. In the current market, the Grey Market Premium (GMP) for the Blue Jet Healthcare IPO remains at +22, mirroring the previous session’s valuation. On the preceding Wednesday, Blue Jet Healthcare’s shares were trading at a premium of ₹22, as indicated by investorgain.com. Considering the upper end of the IPO price range and the present grey market premium, the anticipated listing price for Blue Jet Healthcare’s shares is estimated at ₹368 per share. This reflects a 6.36% increase over the IPO price of ₹346.