Jupiter Life Line IPO Day 1: Sees 0.47 times subscription, retail investors book 66%

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Jupiter Life Line IPO Day 1 Subscription & GMP Details

Jupiter Life Line Hospitals IPO Subscription Status:

Jupiter Life Line Hospitals Ltd, a renowned multi-specialty tertiary and quaternary healthcare provider, officially opened its doors to public investors today with its eagerly anticipated initial public offering (IPO). With the subscription period running until September 8, the IPO has already garnered substantial interest.

As of September 6, the inaugural day of bidding, Jupiter Life Line IPO has achieved a subscription rate of 0.47 times. Investors have eagerly submitted bids for 39.29 lakh equity shares out of the 84.97 lakh shares available, with this data accurate up to 2:00 p.m.

In the retail category, the IPO has seen impressive participation, achieving a subscription rate of 66%. Non-Institutional Investors (NIIs) have shown a solid interest, subscribing at a rate of 60%. Meanwhile, Qualified Institutional Buyers (QIBs) have subscribed to a minimal 0.01% of their allocated shares according to NSE data.

For this IPO, Jupiter Life Line Hospitals has allocated 35% of the shares for retail investors, 15% for NIIs, and the remaining 50% for QIBs.

In a remarkable pre-IPO development, Jupiter Life Line Hospitals successfully secured ₹261 crore from anchor investors on Tuesday.

The Jupiter Life Line IPO is priced in the range of ₹695 to ₹735 per share. The IPO consists of a fresh issue of equity shares valued at ₹542 crore, along with an Offer For Sale (OFS) of 44.5 lakh equity shares by promoter group entities and other shareholders. At the upper end of the price range, the total IPO issue size stands at ₹869.08 crore.

Also Read: Jupiter Life Line Hospitals IPO Subscription Status (Live)

Investors interested in the Jupiter Life Line Hospitals IPO can acquire shares in lots of 20, with a minimum investment requirement of ₹14,700 for retail investors.

The IPO allotment process will be finalized on September 13, with refunds set to be initiated on September 14. Shares will be credited to eligible allottees’ demat accounts on September 15.

Mark your calendars for September 18 when Jupiter Life Line Hospitals shares are expected to debut on both BSE and NSE.

The funds raised from the fresh issue will be utilized for debt reduction and general corporate purposes, further strengthening Jupiter Lifeline Hospitals’ market position.

Jupiter Life Line IPO Analysis:

Analysts have unanimously recommended a long-term investment approach for the Jupiter Life Line IPO due to its robust financial performance and attractive return ratios.

Between FY20 and FY23, Jupiter Life Line Hospitals recorded impressive growth figures, with a 24.5% increase in revenue and a substantial 34.6% growth in EBITDA. Overall, the EBITDA margin has shown significant improvement, climbing from 17.8% in FY20 to 22.6% in FY23.

Also Read: Jupiter Lifeline Hospitals IPO GMP Today ( Live Update )

Notably, the company boasts a healthy return on equity (ROE) and return on capital employed (ROCE) at 20.1% and 20.5% in FY23, aligning well with industry peers. The IPO is reasonably valued at 22.4x FY23 EV/EBITDA, compared to the average 30.4x FY23 EV/EBITDA of listed peers. This has led experts like Nirmal Bang to recommend a ‘Subscribe’ rating for the issue.

Jupiter Life Line IPO GMP Today:

As of today, the Jupiter Life Line IPO GMP stands at ₹276 per share, according to topsharebrokers.com. This indicates that Jupiter Life Line Hospitals shares are trading at a premium of ₹276 compared to their issue price in the grey market.

Considering the GMP and the upper end of the issue price range, it is anticipated that Jupiter Life Line IPO shares may debut at ₹1,011 per share, reflecting a substantial premium of 37.55% over the issue price.

About Jupiter Life Line:

Founded in 2007, Jupiter Life Line Hospitals Limited is a healthcare institution dedicated to serving the healthcare needs of the Mumbai Metropolitan Area (MMR) and the western region of India. Our expertise encompasses a diverse array of medical services.

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