AZB & Partners has advised Blue Jet Healthcare on its qualified institutions placement of equity shares, which aggregated to INR 800 crore. Cyril Amarchand Mangaldas advised the book running lead managers on this transaction.
The book running lead managers were Motilal Oswal Investment Advisors and ICICI Securities.
The QIP was undertaken to ensure compliance with the minimum public shareholding as prescribed under the Securities Contracts (Regulations) Rules, 1957.
The deal closed on July 9 and led to a rise in the company’s paid-up equity share capital from about INR 34.69 crore to INR 37.85 crore, with only two investors taking nearly two-thirds of the issue, including Shamyak Investment and ICICI Prudential Mutual Fund schemes.
Post-allotment, promoters and promoter group holding is expected to dilute from the June-quarter level of 79.81 percent, helping move the company closer to the public shareholding threshold.
AZB’s deal team comprised senior partners Varoon Chandra and Lionel D’Almeida, partner Sweta Ananthanarayanan and associates, Vaibhav Kumar Shah, Saket Pathak, Udit Prajapat and Anjali Singit.
CAM’s transaction team representing the placement agents was led by partner (regional co-head – capital markets-west Ravi Dubey, partner Oishika Dasgupta, with assistance from senior associate Abishek Sankar, and associates Akshita Dhawan, Nikshetaa Jain, Chinmay Jumde and Mitali Mangalam.
