Jupiter Life Line Hospitals IPO Subscription Status: Jupiter Lifeline Hospitals IPO has received strong response from all categories of investors so far. The IPO, which opened on September 6, closes today, September 8.
Given that today is the last day for Jupiter Lifeline Hospitals IPO Subscription, the basis of allotment is expected to be fixed on September 13 and initiation of refunds may take place on September 14, while credit of shares will be done on September 15.
Jupiter Lifeline Hospitals shares are likely to be listed on September 18, on BSE and NSE.
Jupiter Life Line Hospitals IPO Subscription Status
Jupiter Life Line IPO has been subscribed 8.13 times so far on day 3 as the issue received bids for 6.90 crore shares as against 84.97 lakh shares on the offer, till 12:20 pm.
The issue has been subscribed 4.76 times in the Retail Investors’ category and 15.16 times in Non-Institutional Investors (NII) category. The Qualified Institutional Buyers’ (QIB) portion has been booked 8.75 times so far on day 3, as per data available on NSE.
Jupiter Life Line Hospitals IPO GMP today
Jupiter Life Line Hospitals IPO GMP today or grey market premium is ₹225 per share, similar to the previous trading session. This indicates Jupiter Life Line Hospitals share price were trading at a premium of ₹225 apiece 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 per share.
Also Read: RR Kabel IPO price band set at ₹983-1,035 per share; check latest GMP, other key details
Jupiter Lifeline Hospitals IPO Review
Jupiter Life Line Hospitals is present in the strong MMR region where population is consistently increasing and remains a focused micro market. The company intends to improve occupancy rates and equipment utilization at hospitals by continuing to maintain and recruit new medical professionals of high caliber in specified fields and focus on clinical excellence.
Analysts have advised subscribing to the issue for the long term given its growth opportunities, strong fundamentals, fair valuations, decent return ratios and margins and favourable risk reward ratio.
“The issue is priced at a P/BV of 11.41 based on its NAV of ₹64.39 as of March 31, 2023, post IPO it will be a debt free company and growth in healthcare segment, good patient volumes, cost efficiency, strong financials, and expansion to new areas will drive the company’s performance going forward hence, we recommend to “Subscribe” the issue from the long term perspective,” Reliance Securities said.
Also Read: Cellecor IPO price band fixed. Latest GMP, other details of NSE SME issue
Jupiter Lifeline Hospitals IPO details
Jupiter Life Line IPO price band has been fixed at ₹695-735 per share. At the upper end of the price band, the total issue size is ₹869.08 crore.
The IPO consists of a fresh issue of 73.74 lakh shares that totals to ₹542 crore and offer for sale (OFS) portion consisting of 44.5 lakh shares sold by promoter selling shareholder Devang Vasantlal Gandhi, and Neeta Gandhi.
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 Life Line Hospitals raised ₹261 crore from anchor investors on September 5 by allocating 35.47 lakh equity shares to 39 entities at ₹735 apiece.
Catch Live Market Updates here
Download The Mint News App to get Daily Market Updates.
Updated: 08 Sep 2023, 12:33 PM IST