Jupiter Life Line Hospitals IPO To Open Next Week: Check GMP, Price Band & Other Details

For its initial public offer, Jupiter Life Line Hospitals Limited has set the price range for equity shares at Rs 695 to Rs 735. The company's initial public offering (IPO) opens for subscription on September 6, 2023, and closes on September 8, 2023. Investors may place a minimum bid of 20 equity shares and any additional bids in multiples of 20 equity shares, hence retail investors can place a minimum investment of Rs 14,700. The floor price is 69.50 times the face value of the equity share and the cap price is 73.50 times the face value of the equity share.

The initial public offering (IPO) comprises an offer-for-sale (OFS) of up to 4.45 million equity shares and a new issuance of equity shares with a face value of 10 apiece, with a maximum total issue size of Rs 5,402.01 million. There are no shares of the OFS being sold by the company's promoters. The fresh issue part consists of the issuance of 73,74,163 shares, translating into a fresh issue size of Rs 542 crore at the upper price range of Rs 735 per share.

The 44,50,000 shares that will be issued as part of the offer for sale (OFS) component of the initial public offering (IPO) will result in an offer for sale (OFS) size of Rs 327.08 crore at the upper price band of Rs 735 per share. The promoter and promoter group are selling 21.50 lakh of the 44.50 lakh shares sold in the OFS, while non-promoter shareholders are offering the remaining 23 lakh shares. A total of 1,18,24,163 shares, or around 1.18 crore shares, will be issued as part of the IPO, for a total issue size of Rs 869.08 crore at an upper price band of Rs 735 per share. According to the DRHP, qualified institutional buyers (QIBs) are eligible to receive 50% of the net offer, while retail investors are provided with 35% of the net issue size. For HNI and NII investors, the remaining 15% has been set aside.

The book-running lead managers for the offer are ICICI Securities Limited, Nuvama Wealth Management Limited (formerly Edelweiss Securities Limited), and JM Financial Limited, while KFin Technologies Limited serves as the offer's registrar. The equity shares of the company are proposed to be listed on BSE and NSE on 18th September.

On September 5, the anchor book for the Jupiter Life Line IPO will go live. The company will complete the IPO share allocation on September 13, start processing refunds on September 14, and credit equity shares to allottees' demat accounts on September 15.
From 733.12 crore in FY22 to 892.54 crore in FY23, the company's operating revenue increased by 22% YoY. The company reported a net profit of Rs 72.91 crore in FY23 up by 42.60% YoY from Rs 51.13 crore in FY22.

With a total bed capacity of 1,194 hospital beds spread over three facilities as of March 31, 2023, Jupiter Life Line Hospitals Limited is one of the major multi-specialty tertiary and quaternary healthcare providers in the Mumbai Metropolitan Area (MMR) and western region of India. Dr. Ajay P. Thakker, the company's founder, chairman, and managing director, has more than three decades of expertise in the medical and healthcare fields. Dr. Ankit Thakker, the executive director and chief executive officer, has more than ten years of experience in the healthcare industry.

As of September 2nd, 2023, 10:58 AM, the latest GMP of Jupiter Life Line Hospitals IPO was Rs 200. Jupiter Life Line Hospitals IPO's expected listing price is Rs 935 (cap price + today's GMP), which, according to market observers, implies a listing premium of 27.21% at the current GMP, at an upper price band of Rs 735.00.