Jupiter Lifeline Hospital IPO received overwhelming response from non-institutional investors (NIIS) and Qualified institutional buyers (QIBs) on day 3. Retail investors’ portion saw decent response.
Jupiter Lifeline Hospital IPO’s retail investors portion was subscribed 7.73 times, NII portion was subscribed 34.75 times, and QIBs portion was subscribed 187.32 times.
Jupiter Lifeline Hospitals IPO Subscription Status
Jupiter Lifeline Hospital IPO has received bids for 54,14,60,340 shares against 84,97,169 shares on offer, according to data from the BSE.
Jupiter Lifeline Hospital IPO retail investors’ portion received bids for 3,31,19,220 shares against 42,87,002 shares on offer for this segment.
Jupiter Lifeline Hospital IPO’s non-institutional investors’ portion received bids for 6,38,46,320 shares against 18,37,287 on offer for this segment.
Jupiter Lifeline Hospital IPO’s QIBs portion received bids for 44,44,94,800 shares against 23,72,880 on offer for this segment.
Jupiter Lifeline Hospital IPO was subscribed 87% on day 1, and the issue was subscribed 3.30 times on day 2.
Jupiter Lifeline Hospitals IPO details
Jupiter Lifeline Hospitals IPO is made up of fresh issue of 73.74 lakh shares that totals to ₹542 crore and offer for sale (OFS) portion consists of 44.5 lakh shares of ₹10, which aggregates to ₹869.08 crore sold by promoter selling shareholder Devang Vasantlal Gandhi, and Neeta Gandhi. Jupiter Lifeline Hospitals IPO total issue size is ₹869.08 crores.
The net proceeds from the fresh issue will be utilised to repay debt availed from banks by the company and material subsidiary, and to meet general corporate purposes.
Jupiter Lifeline Hospitals IPO raised ₹261 crore from anchor investors on Tuesday, September 5. The company on Tuesday said it decided to allocate 35.47 lakh equity shares to 39 entities at ₹735 apiece, which is also the upper end of the price band. Jupiter Life Line IPO price band has been fixed at ₹695-735 per share.
Singapore Government, Abu Dhabi Investment Authority, Goldman Sachs, Fidelity Funds, Nomura, HDFC Mutual Fund (MF), Nippon India MF, Axis MF, Kotak Mahindra MF, Aditya Birla Sun Life MF, SBI Life Insurance Company and HDFC Life Insurance, are among the anchor investors.
ICICI Securities, Edelweiss Financial Services, and JM Financial are the book-running lead managers to the issue. Kfin Technologies Ltd is the registrar to the issue.
Jupiter Lifeline Hospitals IPO GMP today
Jupiter Lifeline Hospitals IPO GMP today or grey market premium is +225 similar to the previous two trading session. This indicates Jupiter Lifeline Hospitals share price were trading at a premium of ₹225 in the grey market on Friday, according to topsharebrokers.com
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Jupiter Lifeline Hospitals share price is ₹960 apiece, which is 30.61% higher than the IPO price of ₹735.
According to topsharebrokers.com, the lowest GMP is ₹0, while the highest GMP is ₹225.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Jupiter Lifeline Hospitals IPO Review
The issue has received a “Subscribe” rating from brokerage firms such SBI Securities, Nirmal Bang, Reliance Securities, Hensex Securities, Sushil Finance, Ventura Securities, Dalal & Broacha, BP Wealth, and SMIFS Ltd.
The brokerage cited its well-known presence in multi-specialty tertiary and quaternary healthcare, expanding foothold in the Western area, diversified revenue mix, and superior financial performance. It also has a favourable all-hub, no-spoke design where each hospital is independent, well-equipped with qualified medical staff and cutting-edge infrastructure to meet patients’ healthcare demands.
The heavy reliance of the company on Thane Hospital, according to the broking houses, is a crucial issue to watch moving forward.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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Updated: 08 Sep 2023, 03:59 PM IST