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What is the story about?
Shares of Blue Jet Healthcare Ltd. gained up to 2.5% in early trade on Tuesday, July 7, after the company launched a qualified institutional placement (QIP) to raise funds.
Sources in the know told CNBC-TV18 that the company plans to raise funds to the tune of ₹600 crore.
The indicative issue price for the institutional share sale is ₹506 per share, as per sources. This implies a 10% discount from its previous closing price.
Blue Jet Healthcare on Monday informed the exchanges that its board had approved the QIP and had fixed the floor price floor at ₹531.7 per share for the same. This is a 5.3% discount to Monday's closing price.
The fundraise comes after the Blue Jet Healthcare reported a weak fourth quarter. Its net profit declined 41.5% in the March quarter to ₹64.3 crore, while its revenue from operations was down 31% at ₹235 crore.
The company's earnings before interest, taxes, depreciation and amortization (EBITDA) declined 49% to ₹71 crore, while the EBITDA margin contracted to 30.3% from 41% in the year-ago period.
The company's board, while releasing its March quarter results, had approved the proposal to raise up to ₹1,000 crore via QIP, preferential issue, private placement or other permissible routes, subject to shareholder and regulatory approvals.
The company's board also recommended a final dividend of ₹1.2 per equity share of face value ₹2 each for the financial year 2026.
Shares of Blue Jet Healthcare were up 2.7% at ₹576.9 apiece in early trade on Tuesday. The stock has gained 28% in the past month. The rally over the last 30 days means that the stock has turned positive on a year-to-date basis.
Also Read: Explained - Why Saudi Arabia's latest move is a positive for HPCL, BPCL, and IOC
Sources in the know told CNBC-TV18 that the company plans to raise funds to the tune of ₹600 crore.
The indicative issue price for the institutional share sale is ₹506 per share, as per sources. This implies a 10% discount from its previous closing price.
Blue Jet Healthcare on Monday informed the exchanges that its board had approved the QIP and had fixed the floor price floor at ₹531.7 per share for the same. This is a 5.3% discount to Monday's closing price.
The fundraise comes after the Blue Jet Healthcare reported a weak fourth quarter. Its net profit declined 41.5% in the March quarter to ₹64.3 crore, while its revenue from operations was down 31% at ₹235 crore.
The company's earnings before interest, taxes, depreciation and amortization (EBITDA) declined 49% to ₹71 crore, while the EBITDA margin contracted to 30.3% from 41% in the year-ago period.
The company's board, while releasing its March quarter results, had approved the proposal to raise up to ₹1,000 crore via QIP, preferential issue, private placement or other permissible routes, subject to shareholder and regulatory approvals.
The company's board also recommended a final dividend of ₹1.2 per equity share of face value ₹2 each for the financial year 2026.
Shares of Blue Jet Healthcare were up 2.7% at ₹576.9 apiece in early trade on Tuesday. The stock has gained 28% in the past month. The rally over the last 30 days means that the stock has turned positive on a year-to-date basis.
Also Read: Explained - Why Saudi Arabia's latest move is a positive for HPCL, BPCL, and IOC
