Bluejet Healthcare launches ₹400 crore OFS; Promoter Akshay Arora to pare stake

Specialty pharmaceutical company Blue Jet Healthcare said on Tuesday that its promoter Akshay Bansarilal Arora will sell up to 5.93 million shares, or 3.42% of the company’s equity, through an offer for sale (OFS) to meet minimum public shareholding requirements.

The OFS will open on Sept 10 for non-retail investors and on Sept 11 for retail investors, the company said in an exchange filing.

The promoter has also offered an oversubscription option to sell an additional 5.93 million shares, taking the total offer size to 6.83% of the outstanding paid-up share capital if fully subscribed.

The floor price has been set at ₹675 per share, a discount of 7.6% to Blue Jet Healthcare’s last closing price on the Stock Exchange.

Blue Jet Healthcare, which listed in 2023, manufactures specialty pharmaceutical and healthcare ingredients used in contrast media, high-intensity sweeteners and regulated markets.

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