Shares of Blue Jet Healthcare witnessed strong buying interest during Friday’s trading session, surging nearly 9% intraday to touch Rs 623.35, after the company successfully completed its Rs 800 crore Qualified Institutional Placement (QIP), which attracted participation from leading institutional investors.
The company announced that its Investment and Finance Committee approved the allotment of 15,810,276 equity shares to qualified institutional buyers (QIBs) at an issue price of Rs 506 per share. The QIP, which opened on July 6 and closed on July 9, raised Rs 800 crore for the company.
The equity shares were allotted at a premium of Rs 504 apiece, after applying a discount of Rs 25.70 apiece, or 4.83% of the floor price, in line with the applicable Sebi guidelines for qualified institutional placements.
Following the completion of the QIP allotment, Blue Jet Healthcare’s paid-up equity share capital increased from Rs 34.69 crore, comprising 17.35 crore equity shares of Rs 2 each, to Rs 37.85 crore, comprising 18.92 crore equity shares of Rs 2 each. The company will file the revised shareholding pattern along with the listing application as required under Regulation 31 of the SEBI Listing Regulations.
Institutional Investors Participate in Blue Jet Healthcare’s QIP
The QIP received participation from several leading institutional investors, including mutual funds and financial institutions. According to the company’s filing, the key allottees who received a significant portion of the shares offered in the issue included:
Shamyak Investment Private Limited was the largest allottee, receiving 54,34,785 equity shares, accounting for 34.38% of the total QIP issue size. The investor falls under the category of a Systemically Important Non-Banking Financial Company (SI-NBFC).
ICICI Prudential Value Fund was allotted 16,55,991 shares, representing 10.47% of the issue size, while ICICI Prudential Manufacturing Fund received 12,87,994 shares, equivalent to 8.15%.
ICICI Prudential Pharma Healthcare and Diagnostics Fund and ICICI Prudential Equity Savings Fund were each allotted 9,19,996 shares, accounting for 5.82% each of the issue size.
Other ICICI Prudential schemes participating in the QIP included ICICI Prudential MNC Fund, which received 3,31,198 shares (2.09%), ICICI Prudential Quality Fund with 1,83,999 shares (1.16%), and ICICI Prudential Quant Fund with 36,800 shares (0.23%).
The strong participation from institutional investors, particularly multiple schemes managed by ICICI Prudential Mutual Fund, reflects continued institutional interest in Blue Jet Healthcare and its growth prospects. The successful fund raise is expected to provide additional capital support for the company’s expansion initiatives and strengthen its financial position.
The successful QIP completion and participation from reputed institutional investors boosted investor sentiment, with market participants viewing the fund raise as a move that could strengthen Blue Jet Healthcare’s balance sheet, support expansion plans, and provide additional growth capital.
The fresh institutional allocation also expanded the company’s shareholder base, adding long-term investors to its ownership structure.
