The Blue Jet Healthcare IPO has received good response from investors despite consistent selling pressure in the equity markets, backed by retail investors and high networth individuals (HNIs) on October 26, the second day of bidding.
The offer has subscribed 1.32 times with receiving bids for 2.24 crore against issue size of 1.7 crore, as per the subscription data available with the exchanges.
Retail investors have bought 1.37 times the allotted quota and HNIs 2.84 times the portion set aside for them, while qualified institutional buyers have bid 9 percent shares of the reserved portion.
Half of the total offer size has been reserved for qualified institutional buyers, and 15 percent for HNIs. And the remaining 35 percent shares are reserved for retail investors.
The speciality pharmaceutical and healthcare ingredients developer aims to raise Rs 840.27 crore via public issue of 2.4 crore equity shares at the upper price band, comprising only an offer-for-sale by the Arora family.
Also read: Blue Jet Healthcare IPO: 10 things to know before subscribing to Rs 840.27-crore issue
The price band for the offer, which closes on October 27, has been fixed at Rs 329-346 per share.
The Maharashtra-based firm has already mopped up Rs 252 crore via anchor book, a part of QIBs, at the upper price band. Marquee investors participated in the anchor book included Societe Generale, HDFC Mutual Fund, HSBC Global, Government Pension Fund Global, Aditya Birla Sun Life Insurance Company, ICICI Prudential Mutual Fund, Troo Capital, and BNP Paribas Arbitrage.
Also read: Blue Jet Healthcare IPO: Should you subscribe to the Rs 840.27 crore issue?
Blue Jet shares attracted 10 percent premium over the upper price band in the grey market, analysts on anonymity said. The grey market is an unofficial platform wherein the IPO shares can be bought and sold till the listing.
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