Blue Jet Healthcare, a Mumbai-based CDMO gets SEBI approval for IPO

17 Jan 2023 , 02:25 PM

A specialty pharmaceutical and healthcare ingredient and intermediate company, Blue Jet Healthcare gets nod from SEBI to raise funds via initial public offer (IPO). The company is about to raise as much as Rs 2,100 crore through this public offer which is completely an offer for sale (OFS). The promoters of the company Akshay Bansarilal Arora and Shiven Akshay Arora – will sell up to 21,683,178 equity shares.

The company will not receive any net proceeds from the issue. 

Blue Jet Healthcare was incorporated in 1968 as a contract development and manufacturing organization. The company has around 350 customers in 35 countries. Over the past 5 decades it has developed over 100 products with over 40 products commercialised.

Kotak Mahindra Capital Company Limited, ICICI Securities Limited and J.P. Morgan India Private Limited are the merchant bankers and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.