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

Jupiter Life Line Hospitals IPO: Jupiter Life Line Hospitals Ltd has raised 123 crore in its pre-IPO placement. The corporate has issued round 16.7 lakh shares at a worth of 735 apiece to the buyers.

The corporate noticed participation from institutional buyers, together with SBI Magnum Kids’s Profit Fund, SBI Optimum Fairness Fund, and SBI Healthcare Alternatives Fund, Neuberger Berman Rising Markets Fairness Fund, Neuberger Berman Europe Holdings LLC, and Neuberger Berman Strategic India Fairness Grasp Fund Holdings Restricted, Excessive Conviction Fund – Collection 1, Ashoka India Fairness Funding Belief PLC, Assume India Alternatives Grasp Fund LP, DC Ikka Ltd.

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The hospital chain Jupiter Life Line Hospitals filed its draft herring prospectus (DRHP) with the market regulator in Might this yr, to drift its IPO. 

Jupiter Life Line Hospitals IPO consists of a recent difficulty of fairness shares price as much as 615 crore and an offer-for-sale (OFS) of as much as 44.5 lakh fairness shares by promoter group and different promoting shareholders. 

With the completion of the pre-IPO placement, the Recent difficulty dimension will now be lowered, the corporate mentioned.

On the difficulty worth of 735 per share, Jupiter Life Line Hospitals is valued at 4,154.10 crore. 

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As per the DRHP, the proceeds from the problem will probably be utilized to the extent of 463.90 crore for reimbursement or prepayment, in full or partly, of borrowings availed from banks by the corporate and materials subsidiary and common company functions.

Jupiter Hospitals has a strategic deal with the western India healthcare market. It presently operates in Thane, Pune and Indore beneath the “Jupiter” model. 

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Up to date: 22 Aug 2023, 12:34 PM IST


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