Jupiter Life Line Hospital IPO price band fixed; Check GMP, other details here

Jupiter Life Line IPO price band has been fixed at ₹695 – 735 per share. The IPO will open for subscription on September 6 and close on September 8. The anchor book for the Jupiter Life Line IPO will open on September 5.

The company has reduced the fresh issue size in the IPO to ₹542 crore from ₹615 crore earlier. 

Jupiter Life Line IPO comprises a fresh issue of shares of ₹542 crore and an offer for sale (OFS) of up to 44.5 lakh equity shares by promoter group and other selling shareholders. The fresh issue size has been reduced from ₹615 crore earlier. 

At the upper end of the price band, Jupiter Life Line IPO size stands at ₹869 crore.

In August, the company raised ₹123 crore in its pre-IPO placement. It issued around 16.7 lakh shares at a price of ₹735 apiece to the investors.

Read here: Jupiter Life Line Hospitals mops up ₹123 crore in pre-IPO placement

Jupiter Life Line IPO share allotment will be finalised September 13, and the company will initiate refunds on September 14, while the equity shares will be credited to demat accounts of allottees on September 15. Jupiter Life Line shares will be listed on the stock exchanges BSE and NSE on September 18.

Jupiter Life IPO lot size is 20 shares. The minimum investment amount required for retail investors is ₹14,700.

The company proposes to utilise the proceeds from the issue for repayment or prepayment, in full or in part, of borrowings availed from banks by the company and material subsidiary and general corporate purposes.

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ICICI Securities Ltd, JM Financial and Nuvama Wealth Management are the lead managers to the issue, while KFin Technologies is the IPO registrar.

Jupiter Life Line Hospitals Limited is among the key multi-specialty tertiary and quaternary healthcare providers in the Mumbai Metropolitan Area (MMR) and western region of India with a total bed capacity of 1,194 hospital beds across three hospitals as of March 31, 2023

The company’s revenue from operations in FY23 rose to ₹892.54 crore from ₹733.12 crore in FY22. Its net profit during the year increased to ₹72.91 crore from ₹51.13 crore in the previous year.

Jupiter Life Line IPO GMP Today

Jupiter Life Line IPO GMP today, or grey market premium today, is ₹95 per share, as per market observers. This means Jupiter Life Line shares are trading higher by ₹95 in the grey market than its issue price.

Considering the upper price band and the GMP today, Jupiter Life Line Hospitals shares are likely to list at ₹830 apiece on the exchanges.

Updated: 01 Sep 2023, 02:08 PM IST