Jupiter Life Line Hospitals Raised Rs 123 Cr In Pre IPO Round

Multi-specialty Hospital Chain, Jupiter Life Line Hospitals has accomplished its pre-IPO (Preliminary Public Providing) placement of Rs. 123 cr. 

As per a media commercial, on August 22, 2023, the corporate, in session with the lead bankers had undertaken an additional situation of specified securities, for money consideration of 1.67 million shares at a problem worth of Rs 735 per fairness share (together with a premium of Rs 725 per fairness share) noticed participation from institutional traders.

These traders contains, 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 – Sequence 1, Ashoka India Fairness Funding Belief PLC, Suppose India Alternatives Grasp Fund LP, DC Ikka Restricted.

Jupiter has filed its draft herring prospectus (DRHP) with the market regulator in Might this 12 months, to drift its IPO. The problem with a face worth of Rs 10 per fairness share consists of a contemporary situation of fairness shares value as much as Rs 615 crore and an offer-for-sale (OFS) of as much as 4.45 million fairness shares by Promoter Group and different promoting shareholders. With the completion of the pre-IPO placement, the Contemporary situation measurement will now be diminished. 

The provide on the market contains of as much as 1.25 million fairness shares by Devang Vasantlal Gandhi (HUF), as much as 9 lakh fairness shares by Devang Gandhi collectively with Neeta Gandhi, as much as 1 million fairness shares by Nitin Thakker collectively with Asha Thakker, as much as 4 lakh fairness shares by Anuradha Ramesh Modi with Megha Ramesh Modi (as trustees for the good thing about Modi Household Non-public Belief). 

That is adopted by, as much as 4 lakh fairness shares by Bhaskar P Shah (HUF), as much as 2 lakh fairness shares by Rajeshwari Capital Market Restricted, as much as 2 lakh fairness shares by Vadapatra Sayee Raghavan (HUF), as much as 40,000 fairness shares by Sangeeta Ravat collectively with Dr. Hasmukh Ravat, as much as 40,000 fairness shares by Dr. Hasmukh Ravat collectively with Sangeeta Ravat, as much as 20,000 fairness shares by Shreyas Ravat collectively with Sangeeta Ravat.

As per the DRHP, the proceeds from the problem will likely be utilized to the extent of Rs. 463.90 crore for reimbursement/ pre-payment, in full or partly, of borrowings availed from banks by the corporate and materials subsidiary and basic company functions. 

Led by founder, Chairman and Managing Director, Dr.Ajay P Thakker with over 3 a long time of expertise within the area of medication and healthcare and Dr. Ankit Thakker, Chief Government Officer who has a a long time expertise within the healthcare sector , the hospital started as a single hospital in Thane in 2007 and has been working for over 15 years as a company quaternary care healthcare service supplier within the western areas of India. It presently operates in Thane, Pune and Indore beneath the “Jupiter” model.

Jupiter Hospitals has a strategic deal with the western india healthcare market. It presently within the strategy of creating a multispecialty hospital in Dombivli, Maharashtra, which is being designed to accommodate over 500 beds. The development of the hospital started in April 2023 and will likely be unfold throughout 600,000 sq ft.


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