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Jupiter Life Line Hospitals IPO Day 2: Issue subscribed 2.04 times so far; retail portion booked 2.35x


Jupiter Life Line Hospitals IPO Subscription Status: The initial public offering (IPO) of Jupiter Life Line Hospitals Ltd, the multi-specialty tertiary and quaternary healthcare provider, is witnessing decent response from investors.

Jupiter Life Line IPO has been subscribed 2.04 times so far on September 7, the second day of the bidding process. The public issue received bids for 1.73 crore equity shares as compared to 84.97 lakh shares on the offer, till 2:30 pm.

The issue has received 2.35 times subscription in the retail category and 4.30 times subscription in the Non-Institutional Investors’ (NII) category. Qualified institutional buyers (QIB) have bid for 0.01 times shares of their reserved portion so far, as per data available on NSE.

The public issue will close on September 8, Friday, and the share allotment will be finalised on September 13. The company will initiate refunds on September 14 and the credit of shares to the demand accounts of eligible allottees will take place on September 15.

Jupiter Life Line Hospitals shares are likely to be listed on September 18 on both the stock exchanges, BSE and NSE.

Ahead of the IPO, the company already raised 261 crore from anchor investors on Tuesday.

Also Read: Jupiter Life Line Hospitals raises 261 crore from anchor investors ahead of IPO

The company has reserved not more than 35% shares in the IPO for retail investors, 15% for NIIs and the reserved portion for QIBs is 50%.

Jupiter Life Line IPO price band has been fixed at 695-735 per share. The The 869.08-crore worth IPO comprises a fresh issue of equity shares worth 542 crore and an Offer For Sale (OFS) of 44.5 lakh equity shares by promoter group entities and other shareholders. 

The lot size for the Jupiter Life Line Hospitals IPO is 20 shares and the minimum investment amount required by retail investors is 14,700.

Jupiter Life Line Hospitals proposes to utilise the proceeds of the fresh issue to retire debt and for general corporate purposes.

Jupiter Life Line IPO Review

Jupiter Lifeline Hospitals is among the key multi-specialty tertiary and quaternary healthcare providers in the Mumbai Metropolitan Area (MMR) and western region of India with a total bed capacity of 1,194 hospital beds across three hospitals as of March 31, 2023. 

Jupiter Life Line Hospitals has delivered healthy financials with 24.5% revenue growth and 34.6% EBITDA growth between FY20-23. Overall EBITDA margin has also improved from 17.8% in FY20 to 22.6% in FY23. 

Most analysts have recommended subscribing to the Jupiter Life Line IPO, citing healthy financials and decent return ratios.

“At the upper price band of 735, Jupiter Life Line Hospitals is available at a P/E of 66x (FY23), which seems relatively high when compared to its peers. However, several favourable factors, including the increasing healthcare spending, growing medical tourism, and expanding health insurance adoption, are positive indicators for branded hospital chains in India,” said brokerage firm Geojit Financial Services.

Furthermore, the company has an established regional presence, a debt-free status post-IPO, and a robust financial performance compared to its competitors. Moreover, the company’s expansion plans in Western India hold promise for future growth, it added.

Considering these factors, Geojit Financial Services recommend a ‘Subscribe’ rating for the issue on a short- to medium-term basis.

Jupiter Life Line IPO GMP Today

Jupiter Life Line IPO GMP today, or grey market premium today, is 225 per share, as per This reflects that the Jupiter Life Line Hospitals shares are trading higher by 225 than their issue price, in the grey market.

Thus, considering the GMP today and the upper end of the issue price, Jupiter Life Line IPO share listing may take place at 960 apiece, which is a premium of 30.61% to the issue price.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

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Updated: 07 Sep 2023, 02:40 PM IST

Joanna Swanson

Joanna Swanson is Europe correspondent at the Thomson Reuters Foundation based in Brussels covering politics, culture, business, climate change, society, economies and inclusive tech. With specific focus in breaking news, she has covered some of the world's most significant stories.