Blue Jet Healthcare Limited IPO Details

Blue Jet Healthcare is a speciality pharmaceutical and healthcare ingredients and intermediates company, offering niche products to innovator pharmaceutical companies and multinational generic pharmaceutical companies. The company develops and supplies speciality pharmaceuticals and healthcare ingredients as well as intermediates under a contract development and manufacturing organization business model.

The company has three product categories: (i) contrast media intermediates, (ii) high-intensity sweeteners, and (iii) pharma intermediates and active pharmaceutical ingredients (APIs). In FY23, the company received majority of its revenue from sale of its products from Europe (74.49%), followed by India (13.94%), US (4.88%), and others (6.69%).

Further, Blue Jet Healthcare has built a long-term customer base of innovator and multinational generic pharmaceutical companies, supported by multiyear contracts. The company supplies critical starting intermediate and several advanced intermediates to largest contrast media manufacturers in the world, including GE Healthcare AS, Guerbet Group, and Bracco Imaging, Bayer AG. The company also supplies high-intensity sweeteners to several multinational companies, including Colgate Palmolive (India) Limited, Unilever, Prinova US, and MMAG Co. The company has catered to more than 400 customers in 39 countries.

The company operates three manufacturing facilities, located at Shahad (Unit I), Ambernath (Unit II) and Mahad (Unit III) in Maharashtra with an annual installed capacity of 200.60 KL, 607.30 KL and 213.00 KL, respectively, as of June 30, 2023. To meet the increased customer demand, the company had strategically incurred capital expenditures to expand our manufacturing capacity and acquired a “greenfield” manufacturing site on a leasehold basis in Ambernath (Unit IV) in FY21.