Blue Jet Healthcare IPO, 4 other SME issues to hit the market next week, aiming to raise nearly Rs 1,000 cr

One mainboard IPO of Blue Jet Healthcare and four other SME issues will open for public subscription next week, aiming to raise a cumulative of Rs 938 crore.

In the previous week, IRM Energy came up with its public offer to raise around Rs 545 crore. Analysts say they expect a flurry of IPOs in the next couple of months.

“The remarkable volume of IPOs in India, covering a diverse range of sectors and industries, showcases the country’s economic resilience and its attractiveness as an investment hub,” said Mahavir Lunawat, MD, Pantomath Capital Advisors.

Blue Jet Healthcare
Blue Jet Healthcare’s maiden public offer will open for subscription October 25 and closes on October 27. The company has fixed a price band of Rs 329-346 per equity share.

The company plans to raise about Rs 840 crore at the upper end of the price band. Investors can bid for a minimum of 43 equity shares and in multiples thereafter.

The public offer of face value of Rs 2 per equity share is entirely an offer for sale of equity shares up to 2.42 crore shares. Under the OFS, promoters Akshay Bansarilal Arora and Shiven Akshay Arora will offload the shares.

About 50% of the offer is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.Blue Jet Healthcare develops and supplies specialty pharmaceutical and healthcare ingredients and intermediates under a contract
development and manufacturing organization business model.

SME IPOs
About four companies including Paragon Fine, Shanthala FMCG Products, Maitreya Medicare, On Door Concepts will be launching their public offerings in the SME segment next week.

Paragon Fine and Speciality Chemicals issue comprises fresh equity of 51.66 lakh shares, which aggregates up to Rs 51.66 crore. The IPO opens on October 26 and October 30.

Meanwhile, Shanthala FMCG Products and On Door Concepts are looking to raise around Rs 16 crore and Rs 31 crore, respectively through the IPOs. The public offer of Shanthala will open on October 27 and On Door Concepts’ will kick-off on October 23.

The size of Maitreya Medicare’s SME IPO is yet to be known. The public offer, which is an entirely fresh equity issue of 18.16 lakh shares, will open on October 27 and close on November 1.

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