Jupiter Life Line Hospitals IPO, Jupiter Life Line Hospitals IPO listing date: Jupiter Life Line Hospitals, a multi-specialty hospital chain operator's share sale received bids for 54,14,60,340 shares against 84,97,169 shares on offer on day 3, Friday. The category for Qualified Institutional Buyers (QIBs) subscribed 187.32 times. The non-institutional investors' part was subscribed 34.75 times, while the quota for Retail Individual Investors (RIIs) subscribed 7.73 times. Overall, the public issue has been subscribed to 63.72 times on Day 3, i.e., the final day of the bidding process. ​

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Jupiter Life Line Hospitals launched an initial public offer (IPO) on Wednesday, September 6. The initial share sale comprises fresh issuance of shares worth Rs 542 crore, and an offer for sale (OFS) worth Rs 327 crore by promoters and existing shareholders. Jupiter Life Line Hospitals shares are set to be listed on stock exchanges BSE and NSE on September 18.

Here are important things to know about the Jupiter Life Line Hospitals IPO:

Important dates:

The bidding process for the IPO will continue from 10 am to 5 pm for three trading days, till September 8. The basis of the allotment of shares under the IPO is likely to be finalised on September 13. Successful bidders are set to get shares credited into their demat accounts on September 15, whereas other participants will have refunds initiated the previous day, September 14.

Issue price: The company has set a price band of Rs 695-735 apiece for the IPO.

Lot size: Under the IPO, potential investors will be able to bid for Jupiter Life Line Hospitals shares in multiples of 20, translating to Rs 13,900-14,700 per lot.

Jupiter Life Line IPO review: Should you apply for Jupiter Life Line Hospitals IPO? Here is what Anil Singhvi suggests

Zee Business Managing Editor Anil Singhvi recommends applying for the IPO for “good listing gains” and for the long term. He has pointed out the following key points about the company:

Positive

  • Experienced promoters
  • Strong financial track record
  • The hospital is built on its own land
  • Company to become debt-free after IPO
  • New hospital addition will ensure future growth
  • Very strong anchor book

Negative

  • Limited scope to improve revenue per bed
  • Occupancy levels lower than the industry
  • High dependency on the Thane hospital
  • Reasonable valuations

What does Jupiter Life Line Hospitals do?

The hospital chain operates in Thane, Pune and Indore under the Jupiter brand. As of December 2022, the company’s total bed capacity stood at 1,194. Jupiter Hospitals, which has a strategic focus on the healthcare market in the western regions of the country, is in the process of developing a multispecialty hospital in Dombivli, Maharashtra, being designed to accommodate more than 500 beds.

Earnings

Jupiter Life Line Hospitals registered a net profit of Rs 72.9 crore for the year ended March 31, 2023, marking growth of 42.6 per cent compared with the previous year, according to its red herring prospectus (RHP). Its revenue stood at Rs 892.5 crore for the financial year 2022-23, as against Rs 733.1 crore for the previous year.

(With inputs from PTI)

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