Jupiter Life Line IPO: September 6 opening, September 8 closure

JSW Infrastructure IPO: 43% subscription on day 1

Jupiter Life Line IPO Details:

Jupiter Life Line Hospitals Ltd., a prominent name in the private healthcare sector, is all set to embark on a new financial chapter as it gears up for its Initial Public Offering (IPO). The IPO subscription window is scheduled to commence on September 6, concluding on September 8. Prior to this, the anchor book will be made available for interested investors on September 5, offering them an exclusive opportunity to participate.

The timeline for this Jupiter Life Line IPO is meticulously planned. Refunds for the subscriptions are anticipated to be processed by September 14. Following this, the credit of equity shares to the demat accounts of the allottees is scheduled for September 15. Investors can mark their calendars for September 18, the day when the company’s stock is poised to be officially listed on various stock exchanges.

Notably, Jupiter Life Line Hospitals Ltd has made certain revisions to its original plans. The fresh issue size has been adjusted to Rs 542 crore, a modification from the earlier proposed amount of Rs 615 crore. The Offer for Sale (OFS) includes the offering of up to 4.45 million shares by the existing shareholders and promoters of the company.

The OFS breakdown comprises various stakeholders:

  • Devang Vasantlal Gandhi (HUF) is offering up to 1.25 million shares.
  • Devang Gandhi, in collaboration with Neeta Gandhi, plans to offer up to 9 lakh shares.
  • Nitin Thakker, jointly with Asha Thakker, aims to put forth up to 1 million shares.
  • Anuradha Ramesh Modi, along with Megha Ramesh Modi, and Bhaskar P Shah (HUF) intend to offer up to 4 lakh shares each.

The IPO holds strategic significance for the company, as the raised funds amounting to Rs 510.41 crore are earmarked for debt repayment. The company’s debt stood at Rs 476.37 crore as of March 2023. The IPO journey commenced when the company filed draft papers in May, culminating in the approval from the Securities and Exchange Board of India (SEBI) on August 22.

Leading the way as the issue’s key managers are ICICI Securities Ltd, Edelweiss Financial Services, and JM Financial.

Jupiter Life Line Hospitals Ltd has etched its name as a premier provider of multi-specialty tertiary and quaternary healthcare within the Mumbai Metropolitan Area (MMR) and the wider western region of India.

With a robust total bed capacity of 1,194 across three hospitals, the company has established a formidable presence in the healthcare landscape by March 2023. The hospital group boasts a talented team of 1,246 adept doctors, encompassing specialists, physicians, and surgeons. Operating under the well-recognized “Jupiter” brand, their medical facilities are strategically located in Thane, Pune, and Indore.

An exciting development is on the horizon for Jupiter Life Line Hospitals Ltd. The company is actively engaged in the creation of a cutting-edge multi-specialty hospital in Dombivli, Maharashtra. Anticipated to house over 500 beds, this forthcoming facility underscores the company’s unwavering dedication to expanding its healthcare footprint. Commencing construction in April 2023, this endeavor stands as a significant stride toward enhancing advanced medical services within the region.

In terms of financial performance, the fiscal year 2023 witnessed notable achievements for the company. The revenue surged to Rs 892.54 crore, marking a considerable increase from Rs 733.12 crore in the preceding year. Furthermore, the net profit for the fiscal year totaled Rs 72.91 crore, displaying remarkable growth compared to the Rs 51.13 crore recorded in the previous year.

About Jupiter Life Line:

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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