Blue Jet Healthcare, a manufacturer of pharmaceutical chemicals, has submitted preliminary paperwork to financial markets watchdog Sebi to raise money through an IPO (IPO).
According to the draught red herring prospectus, the IPO is entirely an offer-for-sale (OFS) of up to 21,683,178 equity shares by the promoters Akshay Bansarilal Arora and Shiven Akshay Arora (DRHP).
A specialist pharmaceutical and healthcare ingredient and intermediate company with headquarters in Mumbai, Blue Jet Healthcare sells niche items to both international innovator pharmaceutical companies and generic pharmaceutical companies.
Collaboration, product development, and production of detailed chemistry categories are the company’s main business focuses. The company has created more than 100 inventions over the last five decades, with over 40 of those goods being commercialized. Road Flooded By Security Officers.
In FY22, Europe contributed 76% of the company’s revenue, followed by India (17.14%), the US (4.18%), and a few other nations.
Its operational revenue increased by 37% to 683.47 crores for the fiscal year 2022 from 498.93 crores for the fiscal year 2021.
In comparison to the same period in the previous year, the company’s profit after tax increased by 34% to 181.59 crores for the fiscal year 2022.
As of the end of March of this year, the company had no net debt as of June 30, 2022, and as of that date, it had three production sites in the Maharashtra states of Shahad, Ambernath, and Mahad.
The issue’s books running lead managers are J.P. Morgan India Private Limited, ICICI Securities Limited, and Kotak Mahindra Capital Company Limited. It is proposed that the equity shares are listed on both the BSE and NSE. SP PTI DRR