Jupiter Life Line Hospitals IPO to open on September 6 — what are GMP signals ahead of subscription

The preliminary public providing (IPO) of multispecialty hospital chain Jupiter Life Line Hospitals will open for subscription on September 6 and the problem will shut on September 8. The bidding for anchor buyers will open later right this moment, in line with the pink herring prospectus (RHP).

In accordance with market analysts, shares of Jupiter Life Line Hospitals are commanding a premium of Rs 218 forward of the problem opening within the unlisted market.
The gray market is an unofficial market whereby the IPO shares will be purchased and offered until the itemizing.

Jupiter Life Line Hospitals will promote its shares within the vary of Rs 695-735 apiece, and buyers can bid for no less than 20 shares in a single lot and in multiples thereafter.

The IPO contains a recent challenge of fairness shares price Rs 542 crore and a suggestion on the market (OFS) of 44.5 lakh fairness shares by promoter group entities and different shareholders.

Beneath the OFS, Devang Vasantlal Gandhi will offload as much as 12.5 lakh fairness shares, Devang Gandhi collectively with Neeta Gandhi will promote 9 lakh fairness shares. Different promoting shareholders embody Nitin Thakker, Anuradha Ramesh Modi, Bhaskar P Shah, Rajeshwari Capital Market, Vadapatra Sayee Raghavan, Sangeeta Ravat collectively with Hasmukh Ravat.

The online proceeds from the recent challenge might be used to retire debt. In addition to, funds might be used for basic company functions.

About 50 % of the problem has been put aside for certified institutional patrons, 15 % for non-institutional buyers and the remainder 35 % for retail buyers.

ICICI Securities, Edelweiss Monetary Companies, and JM Monetary are the book-running lead managers to the problem whereas and KFin Applied sciences is the registrar.

The fairness shares of the corporate are proposed to be listed on each — NSE and BSE.

Firm overview

For the 12 months ending March this 12 months, the agency has recorded a income of Rs 892.5 crore and a web revenue of Rs 72.9 in the identical interval.

The hospital chain operates in Thane, Pune, and Indore underneath the “Jupiter” model with a complete mattress capability of 1,194 as of December 2022.

Jupiter Hospital, which has a strategic concentrate on the Western India healthcare market, is within the means of growing a multispecialty hospital in Dombivli, Maharashtra, which is being designed to accommodate over 500 beds.


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