Jupiter Life Line Hospital sets IPO share price at Rs 695-735

RR Kabel IPO: price band ₹983-1,035/share; latest GMP & key details

Jupiter Life Line Hospitals Ltd, a renowned private healthcare chain, has unveiled its IPO pricing strategy with shares valued between Rs 695 and Rs 735. This exciting investment opportunity is set to launch on September 6, with the IPO period closing on September 8. The anchor book for the IPO will be accessible starting September 5.

Investors can expect refunds to be processed by September 14, and equity shares will be credited to the demat accounts of successful allottees on September 15. Mark your calendars for the stock listing, scheduled for September 18.

Reduced Fresh Issue Size

Jupiter Life Line Hospitals Ltd has made adjustments to its fresh issue size, reducing it from Rs 615 crore to Rs 542 crore. The Offer for Sale (OFS) component includes up to 4.45 million shares from existing shareholders and promoters. At the upper end of the price range, the total issue size reaches Rs 869 crore, valuing the firm at Rs 4,819 crore.

Key Stakeholders in the OFS

The OFS segment involves several key stakeholders, including:

  • Devang Vasantlal Gandhi (HUF) with up to 1.25 million shares.
  • Devang Gandhi jointly with Neeta Gandhi, offering up to 9 lakh shares.
  • Nitin Thakker jointly with Asha Thakker, contributing up to 1 million shares.
  • Anuradha Ramesh Modi with Megha Ramesh Modi, and Bhaskar P Shah (HUF), offering up to 4 lakh shares each.

Debt Repayment and Utilization of Proceeds

A substantial portion of the funds raised from this IPO, approximately Rs 510.41 crore, will be allocated to debt repayment. As of March 2023, the company’s total outstanding debt stood at Rs 476.37 crore. The IPO process was initiated with draft papers filed in May, receiving SEBI approval on August 22.

Lead Managers

The lead managers overseeing this landmark IPO include ICICI Securities Ltd, Edelweiss Financial Services, and JM Financial.

Jupiter Life’s Healthcare Excellence

Jupiter Life Line Hospitals Ltd has firmly established itself as a leading provider of multi-specialty tertiary and quaternary healthcare services in the Mumbai Metropolitan Area (MMR) and the western region of India.

With a remarkable total bed capacity of 1,194 spread across three hospitals, Jupiter Life has emerged as a prominent player in the healthcare sector as of March 2023. Their dedicated team comprises 1,246 highly skilled doctors, encompassing specialists, physicians, and surgeons. Operating under the esteemed “Jupiter” brand, their hospitals are strategically located in Thane, Pune, and Indore.

Expansion in Progress

Jupiter Life is actively engaged in the development of a cutting-edge multi-specialty hospital in Dombivli, Maharashtra. This upcoming facility is designed to accommodate over 500 beds, reflecting their commitment to expanding healthcare services in the region. Construction for this remarkable hospital commenced in April 2023, marking a significant milestone in their ongoing efforts to provide comprehensive and advanced medical care.

Impressive Financial Performance

For the fiscal year 2023, Jupiter Life Line Hospitals Ltd reported a revenue of Rs 892.54 crore, representing substantial growth compared to Rs 733.12 crore in the previous year. The company’s net profit also showed significant improvement, reaching Rs 72.91 crore in the current fiscal year, compared to Rs 51.13 crore in the previous year. This impressive financial performance underscores the company’s strong position in the healthcare industry.

About Jupiter Life Line Hospital:

Jupiter Life Line Hospitals Ltd. is dedicated to delivering comprehensive healthcare services. Our offerings encompass anesthesia, maternity care, blood banking, heart and lung transplantation, cardiac healthcare, cerebral palsy clinic services, cosmetic surgery, gynecology and obstetrics, gastroenterology, and general medicine.

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