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IPO

Pharma ingredients maker Blue Jet Healthcare plans $100-M IPO

Mint  

Mumbai-based pharmaceutical ingredients maker Blue Jet Healthcare is planning an IPO next year, working with investment banks Kotak Mahindra Capital, ICICI Securities and JP Morgan. The proceeds of USD 100 million or more will be used for reducing debt, funding working capital requirements and future growth of the business. Blue Jet Healthcare has three operational manufacturing facilities and one recently acquired manufacturing site in Maharashtra. It is engaged in making ingredients such as saccharin and intravenous contrast dye used in medical X-rays, MRI, CT scans, angiography and ultrasound imaging.