Jupiter Life Line Hospitals, a multi-specialty hospital chain, has raised Rs 123 crore in a pre-IPO spherical from institutional buyers. The corporate has obtained approval from the Securities and Change Board of India (Sebi) to proceed with its preliminary public providing (IPO).
Jupiter Hospitals IPO particulars
In the course of the pre-IPO part, the corporate issued 16.7 lakh shares at a worth of Rs 735 per share. Noteworthy contributors within the pre-IPO spherical embody 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, Neuberger Berman Strategic India Fairness Grasp Fund Holdings Ltd, Excessive Conviction Fund, Collection 1, Ashoka India Fairness Funding Belief PLC, Assume India Alternatives Grasp Fund LP, and DC Ikka Ltd.
Jupiter Hospitals filed its preliminary paperwork with Sebi in Could to provoke the IPO. The providing consists of a contemporary fairness share issuance valued at as much as Rs 615 crore, together with an offer-for-sale (OFS) element of as much as 44.5 lakh fairness shares by each the promoter group and different promoting shareholders. The current profitable pre-IPO placement has resulted in a discount within the contemporary problem measurement.
Utilisation of proceeds
The funds generated from the general public providing shall be used for the compensation of debt and common company functions. The hospital chain operates beneath the Jupiter model in Thane, Pune, and Indore, collectively has a capability of 1,194 beds as of December 2022. With a strategic deal with the healthcare market in Western India, Jupiter Hospitals can be within the strategy of setting up a multispecialty hospital in Dombivli close to Mumbai, designed to accommodate over 500 beds.
After experiencing a loss within the monetary yr 2020-21, the corporate rebounded in 2021-22, reporting a revenue of Rs 51.13 crore. Its income from operations surged 51 per cent to Rs 733.12 crore in FY22 from Rs 486.16 crore in FY21. As of the 9 months ending on December 31, 2022, Jupiter Hospitals posted a revenue after tax of Rs 57.15 crore, with income from operations amounting to Rs 650.24 crore.
(With PTI inputs)
Printed:
