Jupiter Life Line Hospitals IPO Closed: Latest Subscription Status; What GMP Hints For Listing

Jupiter Life Line Hospitals IPO: Multi-specialty tertiary and quaternary healthcare provider, Jupiter Life Line Hospitals' Rs 869 crore worth initial public offering (IPO) oversubscribed by a whopping 64.80 times on the final day of the issue. The IPO received strong demand from qualified institutional buyers and non-institutional investors. Retail investors also showed healthy response. The proposed equity share of the IPO will be listed on BSE and NSE.

The IPO received bids of 64.14,60,360 equity shares against the offered size of 83,55,826 shares, representing a subscription of 64.80 times, as per Chittorgarh who cited BSE and NSE data.

The qualified institutional buyers category subscribed by a massive 181.89 times, while the non-institutional investors portion subscribed by 36 times, and finally the retail individual investors subsribed by 8 times.

Of the total size, 50% is reserved for QIBs, while 35% is kept for retail investors, and the rest of the 15% portion is reserved for NIIs.

On Saturday, the grey market premium (GMP) of the IPO stood at Rs 225 apiece. As per TopShareBrokers, with the price band of 735.00, Jupiter Life Line Hospitals IPO's estimated listing price is ₹960 (cap price + today's GMP).The expected percentage gain/loss per share is 30.61%.

Jupiter Life Line's IPO was 100% book building, comprising a fresh issue worth Rs 542 crore and an offer for sale (OFS) up to Rs 327 crore at the upper price band. The company plans to utilise the proceeds of the fresh issue to repay the borrowings availed from banks by JLHL and its material subsidiary.

The price band for the IPO stood at Rs 695 to Rs 735 per share having a face value of Rs 10 each. The bid lot size were 20 Equity Shares and in multiples thereof.

Companies like ICICI Securities Limited, Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) and JM Financial Limited are the book-running lead managers of the IPO. While KFin Technologies is the registrar of the issue.

The IPO opened on September 6 and closed on September 8.

After the IPO closes on September 8, the basis of allotment of equity shares is expected to be carried on September 13, followed by refunds on September 14, and credit of shares in the demat account on September 15, 2023. As per Chittorgarh, the IPO is expected to list on September 18, 2023.