Blue Jet Healthcare IPO to open on Oct 25

New Delhi: Pharmaceutical ingredients maker Blue Jet Healthcare announced that its initial share sale will open for public subscription on October 25. The bidding for the initial public offering (IPO), which is entirely an offer for sale (OFS) of 2.42 crore shares by promoters -- Akshay Bansarilal Arora and Shiven Akshay Arora -- will conclude on October 27.

The anchor book of the issue will open on October 23, according to the red herring prospectus (RHP) filed on Wednesday. Since the IPO is completely an OFS, the entire proceeds will go to the selling shareholders and the company will not receive any funds from the issue.