Issue Generates 63.72x Subscription

QIBs lead the show (187.32 times) in Jupiter Life Line IPO, followed by HNIs (34.75 times) and Retail (7.73 times)  

MUMBAI, Sep 8 (The CONNECT) – Jupiter planet represents generosity, wealth and wisdom.

The Initial Public Offering (IPO) of Multispecialty Hospital Chain Jupiter Life Line Hospitals Limited received a generous response as the issue was subscribed 63.72 times today, the last day of bidding.

Data posted on the bourses shows that the issue received bids of 54,14,58,960 shares against the offered 84,97,169 equity shares, at a price band of ₹695-735.

Qualified Institutional Buyer Portion was subscribed 187.32 times, Non-Institutional Investors 34.75 times and the Retail Portion 7.73 times.

The IPO could fetch Rs 869.08 crore at the upper end of the price band.

On Tuesday, Jupiter Life Line Hospitals Ltd had raised Rs 261 crore from anchor investors. Foreign Investors and Domestic Institutions who participated in the anchor were Singapore Government, Abu Dhabi Investment Authority, Goldman Sachs, Fidelity Funds, Nomura, HDFC Mutual Fund (MF), Nippon India MF, Axis MF, Kotak Mahindra MF, Aditya Birla Sun Life MF, SBI Life Insurance Company and HDFC Life Insurance.
ICICI Securities Limited, Nuvama Wealth Management Limited and JM Financial Limited are the book running lead managers and KFin Technologies Limited is the Registrar to the Offer. The Equity Shares are proposed to be listed on BSE and NSE.

Led by founder, Chairman and Managing Director, Dr. Ajay P Thakker with over 3 decades of experience in the field of medicine and healthcare the Company commenced operations in 2007 with a hospital in Thane, Maharashtra and has been operating for over 15 years as a corporate quaternary care healthcare service provider in the western regions of India.

It currently operates three hospitals in Thane, Pune and Indore under the “Jupiter” brand.

Jupiter Hospitals has a strategic focus on the western India healthcare market. It currently is in the process of developing a multispecialty hospital in Dombivli, Maharashtra, which is being designed to accommodate over 500 beds. The construction of the hospital began in April 2023 and will be spread across 600,000 sq. feet.