IGI Logo

Initial Public Offering of Multispecialty Hospital Chain, Jupiter Life Line Hospitals Limited was subscribed 63.72 on the last day of bidding.

The issue received bids of 54,14,58,960 shares against the offered 84,97,169 equity shares, at a price band of ?695-735, according to the data available on the stock exchanges. 

Qualified Institutional Buyer Portion was subscribed 187.32 times, Non-Institutional Investors Portion with subscription of 34.75 times. whereas, Retail Portion was subscribed 7.73 times.

ICICI Securities Limited, Nuvama Wealth Management Limited and JM Financial Limited are the book running lead managers and KFin Technologies Limited is the Registrar to the Offer. The Equity Shares are proposed to be listed on BSE and NSE.

Company Information

Led by founder, Chairman and Managing Director, Dr. Ajay P Thakker with over 3 decades of experience in the field of medicine and healthcare and Dr. Ankit Thakker, Executive Director and Chief Executive Officer who has a more than a decade experience in the healthcare sector. The Company commenced operations in 2007 with a hospital in Thane, Maharashtra and has been operating for over 15 years as a corporate quaternary care healthcare service provider in the western regions of India. It currently operates three hospitals in Thane, Pune and Indore under the “Jupiter” brand.

Jupiter Hospitals has a strategic focus on the western India healthcare market. It currently is in the process of developing a multispecialty hospital in Dombivli, Maharashtra, which is being designed to accommodate over 500 beds. The construction of the hospital began in April 2023 and will be spread across 600,000 sq. feet.

IPO Details

The Company has fixed the price band at ?695 to ?735 per Equity Share for its maiden public offer. Investors can bid for a minimum of 20 Equity Shares and in multiples of 20 Equity Shares thereafter.

The IPO consists of a fresh issue of equity shares of face value of ?10 each aggregating up to Rs 5,402.01 million and an offer-for-sale (OFS) of up to 4.45 million equity shares. The promoters of the Company are not selling any shares in the OFS.

The IPO will fetch Rs 869.08 crore at the upper end of the price band.

The Offer is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the Offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.

The table below shows subscription data for all the categories of investors:

Above views are of the author and not of the website kindly read disclaimer