Jupiter Life Line Hospitals IPO: Key Information for Investors
The initial public offering of Jupiter Life Line Hospitals, a leading multispecialty hospital chain, is now open for public subscription. This article provides a comprehensive overview of the key details that investors need to know about the Jupiter Life Line Hospitals IPO.
|September 6, 2023
|September 8, 2023
|Rs 695-735 per share
|Share Allotment Date
|September 13, 2023
|September 18, 2023
Jupiter Life Line Hospitals IPO: Latest Market Buzz
Market observers have been closely watching the developments around the Jupiter Life Line Hospitals IPO. As of the latest reports, the IPO is generating significant interest in the grey market.
According to market observers, Jupiter Life Line Hospitals is currently trading Rs 276 higher in the grey market. The Rs 276 grey market premium or GMP is about 37.55 per cent higher than its upper issue price of Rs 735 per share. This means the grey market is expecting a 37.55 per cent listing gain from the public issue. ‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
This substantial grey market premium suggests strong investor confidence in the potential of Jupiter Life Line Hospitals as an investment opportunity.
Jupiter Life Line Hospitals IPO: Expert Recommendations
Investors often rely on expert opinions and recommendations when considering IPO investments. Here’s what some financial experts have to say about the Jupiter Life Line Hospitals IPO:
Ventura Securities: “At the IPO price of Rs 735 (upper price band), JLHL is valued at P/E of 59.9 times. Considering the growth opportunities in the company and strong fundamentals, we recommend a Subscribe rating.”
SMIFS: “It has the high-level ARPOB. Hence, based on current performance, we assign ‘Subscribe for listing gains’. At a higher price band, Jupiter Hospital is demanding an EV/Ebitda multiple of 22 times, which is at par with peer Yatharth Hospitals (Same size of 3 hospitals). Thus, the IPO is attractively priced.”
These recommendations highlight the positive aspects of the IPO, such as strong fundamentals and growth potential, which have garnered favorable attention from experts in the field.
Details About Jupiter Life Line Hospitals IPO
The Jupiter Life Line Hospitals IPO comprises a fresh issue of equity shares worth Rs 542 crore and an offer for sale (OFS) of 44.5 lakh equity shares by promoter group entities and other shareholders. Notably, the fresh issue size was reduced after Jupiter Hospital successfully mobilized Rs 123 crore from institutional investors in the pre-IPO round.
The proceeds from the fresh issue will primarily be utilized to retire debt, along with funding for general corporate purposes. The hospital chain operates in Thane, Pune, and Indore under the “Jupiter” brand, with a total bed capacity of 1,194 as of December 2022. Furthermore, Jupiter Hospital is actively developing a multispecialty hospital in Dombivli, Maharashtra, with plans to accommodate over 500 beds. Construction of the hospital commenced in April of the current year.
ICICI Securities, Edelweiss Financial Services, and JM Financial are the book-running lead managers for the IPO. The equity shares are proposed to be listed on both the BSE and NSE.
Investors considering participation in the Jupiter Life Line Hospitals IPO should carefully evaluate the information provided here, consult with financial experts, and conduct their due diligence to make informed investment decisions.