Blue Jet Healthcare Limited has announced a significant change in its shareholding structure as part of its efforts to comply with minimum public shareholding (MPS) requirements. Akshay Bansarilal Arora, a key promoter of the company, has sold a substantial portion of his stake through an Offer for Sale (OFS) mechanism.

Stake Sale Details

Akshay Bansarilal Arora divested 10,734,529 equity shares, representing 6.19% of Blue Jet Healthcare's issued and paid-up capital. The transaction was executed over two days, September 10 and 11, on both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE).

Impact on Promoter Holding

Following this sale, the promoter group's shareholding in Blue Jet Healthcare has decreased significantly:

Regulatory Compliance

The stake sale was conducted to align with the Securities and Exchange Board of India's (SEBI) minimum public shareholding norms. These regulations require listed companies to maintain a minimum public float, ensuring broader public participation in the stock market.

Transaction Execution

The Offer for Sale was facilitated through a consortium of brokers, including:

• ICICI Securities Limited
• Kotak Securities Limited
• Motilal Oswal Financial Services Limited
• Nomura Financial Advisory and Securities (India) Private Limited

The sale was executed in accordance with SEBI's master circular dated December 30, which provides comprehensive guidelines for offer for sale of shares through the stock exchange mechanism.

Company Disclosure

Blue Jet Healthcare Limited made the disclosure of this transaction on September 12, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company's Company Secretary and Compliance Officer, Sweta Poddar, signed off on the official communication to the stock exchanges.

This strategic move by Blue Jet Healthcare's promoter not only ensures regulatory compliance but also potentially increases the company's free float in the market. Investors and market watchers may want to keep an eye on any potential impacts on the stock's liquidity and trading patterns following this significant change in shareholding structure.

Blue Jet Healthcare , a prominent player in the healthcare sector, is set to witness a significant change in its shareholding pattern. Co-promoter Akshay Arora has announced plans to sell a 3.42% stake in the company through an Offer for Sale (OFS), signaling a potential shift in the company's ownership structure.

Offer Details

The stake sale, which amounts to 3.42% of the company's equity, will be conducted through the Offer for Sale mechanism. This method is commonly used by promoters and large shareholders to sell their stakes in listed companies.

Pricing Strategy

Investors and market watchers will be keenly observing the pricing of this offer. The floor price for the stake sale has been set at 675.00 rupees per share. This price point will serve as the minimum bid price for potential buyers participating in the OFS.

Market Implications

The announcement of this stake sale by a co-promoter could have several implications for Blue Jet Healthcare and its shareholders:

1. Change in Promoter Holding: The successful completion of this OFS will result in a reduction of the promoter group's stake in the company.

2. Market Sentiment: The pricing and demand for these shares during the OFS may provide insights into market sentiment towards Blue Jet Healthcare.

3. Liquidity: An increase in the public float could potentially enhance the stock's liquidity in the market.

4. Investor Interest: The OFS may attract new institutional or retail investors, possibly broadening the company's shareholder base.

As the OFS unfolds, market participants will be watching closely to gauge investor appetite for Blue Jet Healthcare's shares and any potential impact on the stock's performance in the short term.

Shareholders and potential investors are advised to keep a close eye on further announcements from the company regarding the exact dates of the OFS and any additional terms or conditions that may be disclosed.