Jupiter Life Line Hospitals shares will be listed on stock exchanges BSE and NSE at 10 am on Monday, September 18.
Jupiter Life Line Hospitals shares are all set to debut in the secondary market at 10 am on Monday, September 18. Jupiter Life Line Hospitals—which operates a chain of multi-specialty hospitals—concluded an initial public offer (IPO) recently with an overall subscription of almost 64 times.
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Here’s what to expect from the upcoming listing of Jupiter Life Line Hospitals shares:
Zee Business Managing Editor Anil Singhvi expects the Jupiter Life Line Hospitals stock to debut in the range of Rs 950-975 apiece.
He suggests investors hold on to their positions with a trailing stop loss at Rs 900.
Earlier, Singhvi recommended applying for the Jupiter Life Line Hospitals IPO for “good listing gains” and from a long-term perspective, citing reasonable valuations and highlighting the following key points:
Positive
- The company has experienced promoters
- It has a strong financial track record
- Its hospitals are built on its own land
- The company is set to become debt-free after the IPO
- The addition of new hospitals is set to ensure future growth for the company
- The company has a “very strong” anchor book
Negative
- The company has limited scope to improve its revenue per bed
- Its occupancy levels are lower in comparison to the industry
- It has a high dependency on the Thane hospital
Here’s all you need to know about the Jupiter Life Line Hospitals IPO:
The IPO of Jupiter Life Line Hospitals, which opened for subscription on September 6 and closed on September 8, received bids for a total of 54.1 crore shares across different categories of investors against the almost 85 lakh shares on offer, according to provisional exchange data.
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The portions reserved for all categories of investors were fully subscribed. Here’s the breakup:
| Category | Reservation | Subscription (No. of times the shares reserved) |
| Qualified institutional buyers (QIBs) | 50 | 187.3 |
| Non-institutional investors (NIIs) or high net-worth individuals | 15 | 34.8 |
| Retail investors | 35 | 7.7 |
| Total | 63.7 | |
| Source: Exchange data | ||
The initial public offer comprised fresh issuance of shares worth Rs 542 crore, and an offer for sale (OFS) worth Rs 327 crore by promoters and existing shareholders.
Under the IPO, shares were available for bidding in a price range of Rs 695-735 apiece in multiples of 20, translating to Rs 13,900-14,700 per lot.
What does Jupiter Life Line Hospitals do?
Jupiter Life Line Hospitals operates in Thane, Pune and Indore under brand Jupiter. As of December 2022, the company’s total bed capacity stood at 1,194. Jupiter Hospitals, which has a strategic focus on the healthcare market in the western regions of the country, is in the process of developing a multispecialty hospital in Dombivli, Maharashtra, being designed to accommodate more than 500 beds.
(With inputs from agencies)
