Jupiter Life Line Hospitals IPO subscribed 3.3 times on Day 2
Multispecialty Hospital Chain, Jupiter
Life Line HospitalsLimited
is among the key
multi-specialty tertiary and
quaternary healthcare providers in the Mumbai Metropolitan Area (MMR) and western
region of India with a total bed capacity of 1,194 hospital beds across
three hospitals as of March 31, 2023was subscribed
3.30 times on the second day of bidding after investors across all categories
showed interest.
The issue received bids of 2,80,31,300shares against the offered 84,97,169 equity
shares, at a price band of ₹695-735, according to the data available on the
stock exchanges.
Non-Institutional
Investors Portion was subscribed 6.63times. Retail Portion was subscribed 3.08
times, whereas, Qualified Institutional Buyer Portion was subscribed 1.12
times. The issue kicked off for subscription on Wednesday,
September 6, 2023 and will close on Friday, September 8, 2023.
A
day prior to the opening of the issue, Jupiter Life Line Hospitals Ltd had
raised Rs 261 crore from anchor investors. Foreign Investors and Domestic
Institutions who participated in the anchor wereSingapore 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.
Broking houses like SBI Securities, Nirmal Bang, Geojit Financial Services, Hem Securities, Reliance Securities, Hensex Securities, Sushil Finance, Ventura Securities, Ajcon Global, Dalal &Broacha, BP Wealth and SMIFS Ltd have given a “SUBSCRIBE” rating to the issue.
The brokerage citing that its well-known presence in multi-specialty tertiary and quaternary healthcare, increasing footprint in the Western region, diversified revenue mix and exceptional financial performance. It is also positive regarding its all-hub-no-spoke model, where each hospital is independent, individually well-equipped with skilled healthcare professionals as well as advanced infrastructure to serve the healthcare needs of the patients.
ICICI Securities Limited, Nuvama Wealth Management Limited and JM Financial Limited are the book running lead managers and KFin Technologies Limited is the Registrar to the Offer. The Equity Shares are proposed to be listed on BSE and NSE.
Company Information
Led
by founder, Chairman and Managing Director, Dr.Ajay P Thakker with over 3 decades of experience in the field of medicine and healthcare
and Dr. Ankit Thakker, Executive Director and Chief Executive Officer who has a
more than a decade experience in the healthcare sector. The Company commenced
operations in 2007 with a hospital in Thane, Maharashtra and has been operating for over 15 years as a
corporate quaternarycare healthcare service provider in the western regions of
India. It currently operates three hospitals inThane, Pune and Indore under the
“Jupiter” brand.
Jupiter Hospitals has a strategic focus on the western India healthcare market. It currentlyis in the process of developing a multispecialty hospital in Dombivli, Maharashtra, which is being designed to accommodate over 500 beds. The construction of the hospital began in April 2023 and will be spread across 600,000 sq. feet.
The table
below shows subscription data for all the categories of investors:
|
JUPITER LIFE LINE HOSPITALS LIMITED Last updated on |
||||
|
Sr.No. |
Category |
No.of shares offered / reserved |
No. of shares bid for |
No. of times of total meant for the category |
|
1 |
Qualified Institutional Buyers (QIBs) |
23,72,880 |
26,59,700 |
1.12 |
|
1(a) |
Foreign Institutional Investors (FIIs) |
- |
8,57,120 |
- |
|
1(b) |
Domestic Financial Institutions(Banks/ Financial
Institutions(FIs)/ Insurance Companies) |
- |
16,98,760 |
- |
|
1(c) |
Mutual Funds |
- |
- |
- |
|
1(D) |
Others |
- |
1,03,820 |
- |
|
2 |
Non Institutional Investors(NIIS) |
18,37,287 |
1,21,81,580 |
6.63 |
|
2.1 |
Non Institutional Investors(Bid amount of more
than Ten Lakh Rupees) |
12,24,858 |
81,41,260 |
6.65 |
|
2.1(a) |
Corporates |
- |
1,01,640 |
- |
|
2.1(b) |
Individuals (Other than RIIs) |
- |
71,34,440 |
- |
|
2.1(c) |
Others |
- |
9,05,180 |
- |
|
2.2 |
Non Institutional Investors(Bid amount of more
than Two Lakh Rupees and upto 10 lakh rupees) |
6,12,429 |
40,40,320 |
6.60 |
|
2.2(a) |
Corporates |
- |
13,840 |
- |
|
2.2(b) |
Individuals (Other than RIIs) |
- |
35,91,580 |
- |
|
2.2(c) |
Others |
- |
4,34,900 |
- |
|
3 |
Retail Individual Investors (RIIs) |
42,87,002 |
1,31,90,020 |
3.08 |
|
3(a) |
Cut Off |
- |
1,13,26,900 |
- |
|
3(b) |
Price Bids |
- |
18,63,120 |
- |
|
4 |
Employee Reserved |
- |
- |
- |
|
4(a) |
Employee (Cut off) |
- |
- |
- |
|
4(b) |
Employee (Price) |
- |
- |
- |
|
5 |
Reservation PortionShareholder |
- |
- |
- |
|
5(a) |
RPS (Cut off) |
- |
- |
- |
|
5(b) |
RPS (Price) |
- |
- |
- |
|
Total |
84,97,169 |
2,80,31,300 |
3.30 |
|
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