Multi-specialty hospital chain Jupiter Life Line Hospitals has mobilised Rs 123 crore from institutional buyers within the pre-IPO (preliminary public providing) spherical. As well as, the corporate has obtained capital markets regulator Sebi’s go-ahead to lift funds by its IPO.
It obtained Sebi’s statement letter on August 11, an replace with the regulator confirmed on Tuesday.
The corporate issued 16.7 lakh shares at a worth of Rs 735 apiece, based on a public announcement.
Buyers participated within the pre-IPO spherical embrace SBI Magnum Youngsters’s Profit Fund, SBI Optimum Fairness Fund, SBI Healthcare Alternatives Fund, Neuberger Berman Rising Markets Fairness Fund, Neuberger Berman Europe Holdings LLC and Neuberger Berman Strategic India Fairness Grasp Fund Holdings Ltd.
As well as, Excessive Conviction Fund – Sequence 1, Ashoka India Fairness Funding Belief PLC, Suppose India Alternatives Grasp Fund LP and DC Ikka Ltd too participated. In Might, Jupiter filed its preliminary papers with the market regulator Sebi to lift funds by an IPO.
The problem consists of a contemporary challenge of fairness shares price as much as Rs 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 contemporary challenge measurement will now be decreased.
Proceeds from the maiden public challenge shall be utilised for cost of debt and basic company functions.
The hospital chain operates in Thane, Pune and Indore below the Jupiter model with a complete mattress capability of 1,194 as of December 2022.
Jupiter Hospitals, which has a strategic give attention to the Western India healthcare market, is within the strategy of growing a multispecialty hospital in Dombivli, Maharashtra, being designed to accommodate over 500 beds.
After making a loss within the monetary yr 2020-21, the corporate reported a revenue of Rs 51.13 crore in 2021-22.
Its income from operations jumped 51 per cent to Rs 733.12 crore in FY22 from Rs 486.16 crore in FY21.
For the 9 months ended December 31, 2022, the corporate’s revenue after tax was Rs 57.15 crore, whereas income from operations stood at Rs 650.24 crore.
