- By Vaamanaa Sethi
- Wed, 06 Sep 2023 10:53 AM (IST)
- Source:JND
The initial public offering (IPO) of Jupiter Life Line Hospitals will open for issue subscription today, September 6, and will close on Friday, September 8. The multi-specialty tertiary and quaternary healthcare provider has fixed the price band for its IPO at Rs 695-735 per share.
Also read: New Labour Laws: Companies Need To Compulsorily Pay Employees For Unused Leaves Exceeding 30 Days
Jupiter Life Line Hospitals IPO issue size is ₹869.08 crore which comprises a fresh issue of equity shares worth ₹542 crore and an Offer For Sale (OFS) of 44.5 lakh equity shares by promoter group entities and other shareholders.
The company has raised over Rs 261 crore from anchor investors ahead of its IPO.
The lot size for the Jupiter Life Line Hospitals IPO is 20 shares and the minimum investment amount required by retail investors is ₹14,700. The company will fix the basis of IPO on September 13 and initiate refunds on September 14, meanwhile the allottees will get their shares credited on their demat accounts on September 15.
Shares of Jupiter Life Line Hospitals are likely to be listed on both NSE and BSE on September 18. The company proposes to utilise the proceeds of the fresh issue to retire debt and for general corporate purposes.
Jupiter Life Line Hospitals IPO GMP Today
Jupiter Life Line Hospitals IPO grey premium market (GMP) is Rs 218 per share, which means that the shares are trading higher by Rs 218 per piece than the issue price.
The estimated listing price of Jupiter Life Line Hospitals shares is ₹953 apiece, which is a premium of 29.66% to the issue price, considering the issue price and grey market premium today.
Analysts Take on Jupiter Life Line Hospitals IPO
Most of the analysts have given ‘subscribe’ tag to the Jupiter Life Line Hospitals IPO.
“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: Monetary Policy Needs To Be Forward Looking, Says RBI Governor Shaktikanta Das
“Amid advantage of regional dominance, operational efficiency, Jupiter Hospital has demonstrated good financial performances among peers. It has the high level ARPOB. Hence, based on current performance, we assign ‘Subscribe’ for listing gain. At higher price band, Jupiter Hospital is demanding an EV/EBITDA multiple of 22x, which is at par with peer Yatharth Hospitals. Thus, the IPO is attractively priced," said SMIFS.