Blue Jet Healthcare sets price band at Rs 329-346/ share
image for illustrative purpose
New Delhi: Pharmaceutical ingredient maker Blue Jet Healthcare on Thursday fixed a price band of Rs 329-346 per share for its Rs 840 crore Initial Public Offering (IPO).
The bidding for the issue, which is entirely an Offer for Sale (OFS) component of 2.42 crore shares by promoters -- Akshay Bansarilal Arora and Shiven Akshay Arora -- will open for public subscription during October 25-27.
The anchor book for the issue will open on October 23, the company said. 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.
The maiden public issue is expected to fetch Rs 799 crore and Rs 840.27 crore at the lower and upper ends of the price band, respectively. Investors can bid for a minimum of 43 equity shares and in multiples of 43 equity shares thereafter.
