Blue Jet Healthcare lists at 10% premium on bourses; Should you hold or book profit-

Blue Jet Healthcare lists at 10% premium on bourses; Should you hold or book profit?

Blue Jet Healthcare shares listed at 9.82 % premium over IPO price on bourses amid weak domestic market. The share debuted at Rs 380 on the NSE and at Rs 359.90 on the BSE, as compared to the issue price of Rs 346. The investors have made a profit of Rs 34 per share as the scrip gave nearly 10% return to investors on the listing.

“Blue Jet Healthcare made its debut on the stock markets today, by listing at Rs 380 per share, a premium of around 10% to its IPO price of Rs 346. The IPO was subscribed 7.95 times, which is a good subscription level. Blue Jet Healthcare is a manufacturer of contrast media intermediates and high-intensity sweeteners. The company has a strong competitive advantage due to its high entry barriers and long-term relationships with multinational customers. The company’s financial performance is also strong, with consistent revenue and profit growth in recent years. Overall, the listing of Blue Jet Healthcare was a success. The company’s strong fundamentals and good subscription levels were positive factors for this. Investors may hold it by keeping a stop loss at Rs 340,” said Shivani Nyati, Head of Wealth, Swastika Investmart.

The IPO comprised an offer-for-sale (OFS), with promoters offloading 24,285,160 shares of Rs 2 aggregating up to Rs 840.27 crore. For potential investors, the bidding started at a minimum of 43 equity shares, with subsequent bids in multiple lots of 43 equity shares each. The minimum amount of investment required by retail investors was Rs 14,878.