Jupiter Life Line Hospitals, in anticipation of its Initial Public Offering (IPO), recently disclosed that it successfully secured an impressive sum of Rs 261 crore from anchor investors. The multi-specialty hospital network is set to launch its IPO for public subscription on the upcoming Wednesday. As detailed in a circular posted on the BSE website, the company has opted to allocate a total of 35.47 lakh equity shares to 39 different entities, pricing each share at Rs. 735, which also happens to be the upper limit of the price range.
New Delhi: Jupiter Life Line Hospitals announced on Tuesday that it had successfully garnered Rs 261 crore from anchor investors, positioning the multi-specialty hospital chain confidently ahead of its Initial Public Offering (IPO). According to the information revealed in a circular posted on the BSE website, the company has chosen to allocate a total of 35.47 lakh equity shares to 39 distinct entities, pricing each share at Rs. 735, which aligns with the upper boundary of the price band.
Some of the noteworthy anchor investors in this venture include the 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.
The IPO itself comprises a fresh issuance of equity shares valued at Rs 542 crore and an Offer For Sale (OFS) of 44.5 lakh equity shares by entities within the promoter group and other shareholders. The IPO price range is set at Rs 695-735 per share, with the subscription window closing on September 8.
The funds raised through the fresh issue will be allocated towards debt retirement and general corporate purposes. The book-running lead managers for the IPO include ICICI Securities, Edelweiss Financial Services, and JM Financial. The equity shares are intended to be listed on both BSE and NSE.
Operating under the ‘Jupiter’ brand, the hospital chain has a cumulative bed capacity of 1,194 across Thane, Pune, and Indore as of December 2022. Additionally, the company is currently in the process of developing a multi-specialty hospital in Dombivli, Maharashtra. Notably, after incurring losses during the financial year 2020-21, Jupiter Life Line Hospitals reported a profit of Rs 51.13 crore in 2021-22.
