Jupiter Life Line Hospitals files IPO papers with SEBI
Jupiter Life Line Hospitals has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The IPO comprises fresh issue of equity shares worth Rs 615 crore and an offer for sale (OFS) of 44.5 lakh equity shares by promoter group entities and other shareholders.
Proceeds of the fresh issue to the tune of Rs 464 crore will be utilized to retire debt. Besides, funds will be used for general corporate purposes. ICICI Securities, Edelweiss Financial Services, and JM Financial are the book-running lead managers to the issue. The equity shares are proposed to be listed on BSE and NSE.
Jupiter Hospitals, which has a strategic focus on the Western India healthcare market, is in the process of developing a multispecialty hospital in Dombivli, Maharashtra, which is being designed to accommodate over 500 beds.
