Blue Jet Healthcare IPO Allotment Status
Quick take on Blue Jet Healthcare Ltd IPO
The IPO of Blue Jet Healthcare Ltd closed for subscription on 27th October 2023. It has a face value of ₹2 per share and the price band for the book building IPO was fixed in the range of ₹329 to ₹346. The final price will be discovered within this band through the process of book building. The entire IPO of Blue Jet Healthcare Ltd will be an offer for sale (OFS) with no fresh issue component in the IPO. The offer for sale (OFS) portion of the IPO comprises the sale of 2,42,85,160 shares (242.85 lakh shares approximately), which at the upper price band of ₹346 per share translates into OFS size of ₹840.27 crore. The promoter shareholders will be offering shares in the OFS. Since there is no fresh issue component, the OFS will also be the total IPO size. Thus, the overall IPO of Blue Jet Healthcare Ltd will also entail the sale of 2,42,85,160 shares, which at the upper price band of ₹346 per share will translate into a total IPO issue size of ₹840.27 crore.
The issue was overall subscribed 7.95 times, with the maximum subscription coming from the QIB segment, which got subscribed over 13.72 times. While the HNI / NII segment got subscribed at a healthy clip of 13.59 times, the retail portion got subscribed at a relatively modest level of 2.24 times. Most of the QIB subscriptions came in on the last day of the IPO, which is the norm. The IPO was open for 3 days, which is the general practice with most IPOs. The price band for the IPO was ₹329 to ₹346, and looking at the response, it looks fairly likely that the price discovery would eventually happen at the upper end of the band.
Blue Jet Healthcare Ltd IPO Allotment Date
The first step for checking the allotment status of the IPO online is the completion of the basis of allotment of Blue Jet Healthcare Ltd. The basis of allotment will be finalized late on 01st November 2023. The refunds will be initiated by the company also on 01st November 2023. The demat credits are expected to also happen on 03rd November 2023 while the listing of the stock on the NSE and the BSE will happen on 06th November 2023. In between there is a weekend so the allotment status and listing get delayed by a couple of days. However, it looks like the companies are keen to adhere to the new SEBI norm of T+3 listing. That is voluntary as of now but will become mandatory as of the start of December 2023, so most IPO issuers are getting fully prepared for the new system.
If you have applied for the IPO, you can check your allotment status online. You can either check your allotment status on the BSE website or the IPO registrar, Link Intime India Private Limited. Here are the steps.
Check the allotment status of Blue Jet Healthcare Ltd
This is a facility available to all mainboard IPOs, irrespective of who the registrar to the issue is. You can still access the allotment status on the website of BSE India as under. Visit the BSE link for the IPO allotment by clicking on the link below.
Once you reach the page, here are the steps to follow.
- Under Issue Type – Select Equity Option
- Under Issue Name – Select Blue Jet Healthcare Ltd from the drop down box
- Enter the Application Number exactly as in the acknowledgement slip
- Enter the PAN (10-digit alphanumeric) number
- Once this is done, you need to click on the Captcha to verify that you are not a robot
- Finally click on the Search Button
In the past, while checking the allotment status on the BSE website, it was necessary to input the PAN number and the application Number. However, now BSE has modified the requirements and it is sufficient if you enter any one of these parameters.
The allotment status will be displayed on the screen in front of you informing about the number of shares of Blue Jet Healthcare Ltd allotted into your demat account. It is always advisable to save a screenshot of the allotment status output for subsequently verifying with the demat account credits on or after 03rd November 2023.
Blue Jet Healthcare Ltd Registrars
Registrar to IPO: Link Intime India Private Limited
There are three things to remember. Firstly, you can just click on the hyper link given above and directly go to the allotment checking page. The second option, in case you are not able to click on the link, is to copy the link and paste in your web browser. Thirdly, there also a way to access this page via the home page of Link Intime India Private Ltd by clicking on the Public Issues link displayed prominently on the home page. It all works the same.
This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select Blue Jet Healthcare Ltd from the drop-down box. In the case of Blue Jet Healthcare Ltd, data access will be allowed late on 01st of November 2023 or by middle of 02nd of November 2023.
There are 4 options available to you and you will find these 4 options on the above access page itself. You can either access the allotment status based on PAN or Application Number or DPID / Client ID combination or based on the combination of the bank account / IFSC code used to apply for the IPO. You can select any one of the options that is preferred and provide the details accordingly.
- If you opt for the PAN Number access, then enter the 10 character income tax permanent account number (PAN). This is an alphanumeric code available either on your PAN card or on top of your income tax return.
- The second option is to use the Application Number that you used while making an application for the IPO. The application number is available on the acknowledgement provided to you and you can use that as one of the options to access allotment status.
- The third option is to use the DPID-Client ID combination. Remember that here you have to enter the DP id and the demat client id together as one single string. This DPID / Client ID combination is a numeric figure for CDSL demat accounts while it is an alphanumeric string for NSDL demat accounts. This combination of DP ID / Client ID of your demat account will be available in your demat statement or you can also get it online from your online trading account or trading app downloaded on the smart phone.
- The fourth option is to query based on the combination of your bank account number and IFSC number and irrespective of how many bank accounts you have, only use the bank account used for this particular IPO application. Once you click on this option, you find two boxes. First, enter your bank account number as it is. Secondly, enter the 11-character IFSC code, which is available on your cheque book. The first 4 characters of the IFSC code are alphabets and the last 7 characters are numeric. IFSC is an abbreviation for Indian Financial System Code and is unique to each account.
- Finally, click on the Search button
The IPO status with number of shares of Blue Jet Healthcare Ltd allotted will be displayed on the screen in front of you. You can take a screenshot of the output page for your records. The same can be verified with the demat account on 03rd November 2023 or after that. The stock is expected to list on 06th November 2023.
What determines the chances of allotment in this IPO?
Broadly, there are 2 factors that determine the chances of an investor in getting an IPO. The first is the number of shares available under each of the categories, depending on which category you choose to invest in. The table below captures the quota for each of the categories as decided by the company in consultation with the BRLMs.
|Investor Category||Shares Offered|
|QIB Shares Offered||Not more than 50.00% of the offer (1,21,42,580 shares)|
|Retail Shares Offered||Not more than 35.00% of the Offer (84,99,806 shares)|
|HNI / NII Shares Offered||Not more than 15.00% of the Offer (36,42,774 shares)|
|Total Shares on offer||Total of 2,42,85,160 shares (100.00% of the issue)|
In the above table, the anchor portion allotment (30% of the overall IPO size) was already completed a day ahead of the IPO. The subscription for QIB category is only for the residual amount. We now move to the second item that influences allotment and that is the subscription ratio. Here is what the ratio of subscription for each category looked like for the IPO of Blue Jet Healthcare Ltd at the close of subscription.
|Qualified Institutional Buyers (QIB)||13.72 Times|
|S (HNI) ₹2 lakhs to ₹10 lakhs||9.48|
|B (HNI) Above ₹10 lakhs||15.65|
|Non Institutional Investors (NII)||13.59 Times|
|Retail Individuals||2.24 Times|
|Overall Subscription||7.95 times|
As can be seen, greater the oversubscription, lower the chances of allotment. However, the retail portion is subscribed just 2.24 times, so chances of allotment are still bright. More importantly, one thing to note is that SEBI rules for retail allocation are designed in such a way that maximum investors get at least the minimum 1 lot allotment. So, applying in the names of all your family members can improve your chances of allotment. We have to await the finalization of the basis of allotment for the precise picture.
DisclaimerInvestment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
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