Jupiter Life Shares Debut With Over 32% Premium

Shares of multi-speciality hospital chain Jupiter Life Line Hospitals Ltd on Monday made a remarkable debut in the equity market, listing with a premium of over 32 per cent against the issue price of Rs 735. The stock made its debut at Rs 960, rallying 30.61 per cent from the issue price on the BSE.

Later, it jumped 39.90 per cent to Rs 1,028.30. On the NSE, it began the trade at Rs 973 apiece, registering a jump of 32.38 per cent.

The company commanded a market valuation of Rs 6,714.62 crore. The initial public offering (IPO) of Jupiter Life Line Hospitals was subscribed 63.72 times, helped by huge demand from institutional buyers.

The IPO had a price range of Rs 695-735 a share. The hospital chain operates in Thane, Pune and Indore under the 'Jupiter' brand with a total bed capacity of 1,194 as of December 2022. It is also in the process of developing a multi-specialty hospital in Dombivli, Maharashtra.

(PTI)