Jupiter Life Line Hospital IPO listing on stock markets today

The Jupiter hospital chain operates in Thane, Pune and Indore with a total bed capacity of 1,194 as of December 2022

Updated on: Sep 18, 2023, 09:39:57 IST

By HT News Desk

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The Jupiter Life Line Hospitals' initial public offering (IPO) will be listed on Monday, i.e September 18. The subscriptions for the initial share had opened for three days from September 6 to 8.

IPO stands for Initial Public Offering and it is when the promoters of the company in question for the first time want to raise additional funds by offering shares of the company.

The IPO comprises fresh issue of equity shares worth ₹542 crore and an offer of sale of 44.5 lakh equity shares by promoter group entities and other shareholders.

Proceeds of the fresh issue will be utilised to retire debt. Besides, funds will be used for general corporate purposes.

“Jupiter hospital had got 63 times plus subscription and QIB almost 187 times as demand has shown stock can list around 950 levels in bear case while in bull case stock can list around 1040 levels”, Vaibhav Kaushik, research analyst, GCL Broking, told Hindustan Times.

According to the website topsharebrokers.com, the IPO had a grey market price of ₹233 and an estimated listing price of ₹968.

The Jupiter hospital chain operates in Thane, Pune and Indore with a total bed capacity of 1,194 as of December 2022.

The hospital chain has a strategic focus on the western India healthcare market, is in the process of developing a multi-speciality hospital in Dombivli, Maharashtra, which is being designed to accommodate over 500 beds.

ICICI Securities, Edelweiss Financial Services, and JM Financial are the book-running lead managers to the issue. The equity shares are proposed to be listed on BSE and NSE.

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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

Initial Public Offering

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