Jupiter Hospital IPO Listing: shares soar 32.4% on NSE opening

Jupiter Hospital IPO Listing shares soar 32.4% on NSE opening

Jupiter Lifeline Hospitals Ltd made a grand entrance onto the stock exchange, with its shares commanding a premium on the National Stock Exchange (NSE). The Jupiter Hospital IPO listing saw the share price soar to ₹973 per share, a remarkable 32.38% above its issue price of ₹735. On the Bombay Stock Exchange (BSE), Jupiter Lifeline’s shares also surged, opening at ₹960 per share.

The journey to this successful IPO began on Wednesday, September 6, and concluded on Friday, September 8, with the offering receiving overwhelming investor interest. On the third day of the IPO, it was oversubscribed by an impressive 63.72 times. Remarkably, the IPO had a strong start, garnering an 87% subscription rate on the first day and 3.30 times on the second day. The price band for Jupiter Lifeline IPO had been set at ₹695-735 per share.

Jupiter Lifeline Hospitals IPO Details:

Jupiter Lifeline Hospitals IPO comprises a fresh issue of 73.74 lakh shares, amounting to ₹542 crore, and an offer for sale (OFS) portion that includes 44.5 lakh shares of ₹10 each, totaling ₹869.08 crore. The selling shareholders, Devang Vasantlal Gandhi and Neeta Gandhi, are divesting their holdings in the IPO. The overall issue size for Jupiter Lifeline Hospitals IPO stands at ₹869.08 crores.

Proceeds from the fresh issue will be primarily allocated to the repayment of debts acquired from banks by the company and its material subsidiary, as well as for general corporate purposes.

Notably, Jupiter Lifeline Hospitals IPO had a strong start, raising ₹261 crore from anchor investors on Tuesday, September 5.

The book-running lead managers for the IPO are ICICI Securities, Edelweiss Financial Services, and JM Financial, with Kfin Technologies Ltd serving as the registrar to the issue.

Jupiter Hospital IPO GMP Today:

In the grey market, Jupiter Hospital IPO’s Grey Market Premium (GMP) remained robust, standing at +233, consistent with its performance over the last three trading sessions. This indicates that Jupiter Lifeline Hospitals’ shares were trading at a premium of ₹233 in the grey market on Monday, according to topsharebrokers.com.

Considering the upper end of the IPO price band and the current grey market premium, it is estimated that Jupiter Lifeline Hospitals’ share price opened at ₹968 apiece on its listing day, representing a significant 31.7% premium over the IPO price of ₹735.

Investors and market enthusiasts eagerly await further developments in the journey of Jupiter Lifeline Hospitals Ltd as it continues to make waves in the stock market.

About Jupiter Hospital:

Jupiter Life Line Hospitals Limited functions as a medical facility, specializing in a variety of healthcare services. The offerings include cardiology, pediatrics, rehabilitation, organ transplants, hematology, surgical gastroenterology, internal medicine, and cancer care services. Jupiter Life Line Hospitals is dedicated to serving patients located within India.

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