The Jupiter Life Line Hospital IPO was fully subscribed on the second day

Jupiter Life Line Hospitals IPO, Date of Jupiter Life Line Hospitals IPO: Jupiter Life Line Hospitals, an operator of a multi-specialty hospital chain, received offers for 1,32,49,380 shares on the second day, Thursday, versus 84,97,169 shares offered so far. The Qualified Institutional Buyers (QIBs) category received 0.01 subscriptions. The portion of non-institutional investors subscribed 2.72 times, while the portion for retail investors (RIIs) subscribed 1.92 times. Overall, 1.56 percent of the public issue has been subscribed to so far on the first day of the bidding process.​

Jupiter Life Line Hospitals launched an initial public offering (IPO) on Wednesday, September 6th. The initial share sale comprises a new issuance of shares valued at Rs. 542 crore and an Offer to Sell (OFS) valued at Rs. 327 crore by promoters and existing shareholders. Jupiter Life Line Hospitals shares are due to list on the BSE and NSE stock exchanges on September 18th.

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

Important data:

The bidding process for the IPO will continue on three trading days until September 8 from 10 a.m. to 5 p.m. The basis for the allocation of shares in connection with the IPO is expected to be finally determined on September 13th. Successful bidders will be credited with the shares. The refund will be sent to their Demat account on September 15th, while other participants will have their refunds initiated the day before, September 14th.

issue price: The company has set a price range of 695 to 735 rupees per share for the IPO.

lot size: As part of the IPO, prospective investors will be able to bid for shares of Jupiter Life Line Hospitals in multiples of 20, equivalent to Rs 13,900-14,700 per lot.

Jupiter Life Line Hospitals IPO Subscription Status

Jupiter Life Line IPO Evaluation: 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 because of “good listing gains” and long term. He has pointed out the following key points of the company:

Positive

• Experienced promoters
• Strong financial track record
• The hospital is built on its own property
• Company to be debt-free after IPO
• The construction of a new hospital will ensure future growth
• Very strong anchor book

Negative

• Limited room to improve revenue per bed
• Occupancy lower than in the industry
• High dependency on Thane Hospital
• Appropriate Ratings

What does the 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 was 1,194. Strategically focused on the healthcare market in the western regions of the country, Jupiter Hospitals is in the process of developing a multi-specialty hospital in Dombivli, Maharashtra, which is expected to accommodate more than 500 beds.

merits

Jupiter Life Line Hospitals recorded a net profit of Rs.72.9 crore for the year ended 31 March 2023, representing a growth of 42.6 percent year-on-year, according to the Red Herring Prospectus (RHP).
Revenue for the 2022/23 financial year was Rs. 892.5 crore compared to Rs. 733.1 crore in the previous year.

(With inputs from PTI)

Find the latest stock market updates here. All other news about business, politics, technology, sports and cars can be found at Zeebiz.com.