A Thunderous Debut
In a much-anticipated market event, Jupiter Life Line Hospitals’ IPO (Initial Public Offering) made a stellar debut today. Shares of the healthcare provider were listed at ₹973 on the National Stock Exchange (NSE), a premium of 32.4% over the issue price of ₹735. On the Bombay Stock Exchange (BSE), the shares were listed at ₹960, marking a 30.6% premium.
Robust Subscription Rate
The ₹869 crore IPO of Jupiter Life Line Hospitals received an overwhelming response during its subscription period. By the final day, the issue was subscribed 63.72 times. The Qualified Institutional Buyers (QIBs) category alone saw a tremendous 187-times subscription, indicating strong demand from institutional investors.
Grey Market Indications
Prior to the official listing, the grey market was trading the company’s shares at a premium of ₹233, signaling strong investor sentiment.
Financial Details
Jupiter Life Line Hospitals issued new shares worth ₹542 crores under the IPO. Additionally, promoters and shareholders sold 44.5 lakh equity shares. The price band for the shares was set between ₹695-735.
Utilization of IPO Proceeds
One of the key goals for the company post-IPO is to become debt-free. The company plans to use ₹464 crores of the IPO proceeds to pay off existing debts.
Anchor Investments
Before the IPO opened, the company had already raised ₹261 crores from anchor investors, including Abu Dhabi Investment Authority, Goldman Sachs, Fidelity Fund, Nomura, HDFC MF, and Nippon India MF, among others.
A Brief History
The hospital chain, which commenced its operations in 2007 from Thane, has been a crucial healthcare service provider in the western region of India for over 15 years. The company operates under the Jupiter brand name in Thane, Pune, and Indore.
| Information | Details |
|---|---|
| IPO Issue Size | ₹869 Crores |
| Listing Price on NSE | ₹973 |
| Listing Price on BSE | ₹960 |
| Issue Price | ₹735 |
| Subscription Times | 63.72 |
| QIB Subscription | 187 times |
| Grey Market Premium | ₹233 |
| New Shares Issued | ₹542 Crores |
| Debt to be paid | ₹464 Crores |
| Anchor Investments Raised | ₹261 Crores |
| Operating Cities | Thane, Pune, Indore |
The listing gives Jupiter Life Line Hospitals a robust financial footing to continue expanding its healthcare services.
