- Date : 06/09/2023
- Read: 3 mins
Come September 6, Jupiter Life Line Hospitals’ IPO will go public on the primary market. A leading name in the healthcare sector, you should know the details of the company and its proposed IPO before investing. Here are 7 important facts.
It is IPO time again as Jupiter Life Line Hospitals is debuting on the stock exchange. The multi-specialty hospital chain, Jupiter Life Line Hospitals, is eyeing to list its shares in the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). Per a report published by CRISIL, Jupiter Life Line Hospitals is one of the few hospitals in India that provides neuro-rehabilitation services. The hospital has a dedicated center specializing in computer-assisted and robotic services for rehabilitating neuropatients. As the hospital is launching its IPO, here are 7 important details.
Jupiter Life Line Hospitals IPO opens on 6th September and closes on 8th September 2023
The price band per share is ₹695-₹735, and you can bid for a minimum of 20 shares per lot.
The company has posted growth in its revenue and profits in FY 2023 compared to FY 2022
The IPO includes both a fresh issue and an Offer for Sale and is valued at ₹869.08 crores
7 Things About Jupiter Life Line Hospitals IPO
Jupiter Life Line Hospitals is a quaternary and tertiary healthcare provider operating in the Mumbai Metropolitan Area.
As of 31st March 2023, the revenue stood at ₹902.96 crores, a jump from ₹737.14 crores reported last year. The Profit After Tax (PAT) jumped to ₹72.91 crores from ₹51.13 crores last year.
IPO Dates and Price Band
The IPO opens on 6th September and closes on 8th September 2023. The price band per share ranges from ₹695 to ₹735.
11,824,163 shares are being offered through the IPO, aggregating ₹869.08 crores. The issue includes an Offer For Sale (OFS) of 44.50 lakh shares aggregating ₹327.08 crores and a fresh issue of 73,74,163 shares totaling ₹542 crores.
Usage of the Funds
The IPO proceeds would be put to various uses. ₹463.90 crores would be used for full or partial debt repayment, while the rest would be used for corporate purposes.
Allocation of the Issue
A maximum of 50% is reserved for Qualified Institutional Buyers (QIB) while a minimum of 15% is for HNIs (High Net Worth). Retail investors can bid for a minimum of 35% of the issue.
Also Read – Know more about the types of IPO investors.
Listing Date and Grey Market Premium (GMP)
The tentative listing date of the IPO is 18 September 2023. The current GMP per share ranges between ₹208 and ₹210.
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The Bottom Line
Know the important aspects of the IPO before investing. Know the risk-return trade-off and invest if the IPO aligns with your risk profile and investment strategy.
Also Read – Know how the IPO price is determined.