Jupiter Life Line Hospitals IPO Opens On 06 September At Rs 695 To Rs 735 Per Share

Jupiter Life Line Hospitals is among the key multi-specialty tertiary and quaternary healthcare providers in the Mumbai Metropolitan Area (MMR) and western region of India with a total bed capacity of 1,194 hospital beds across three hospitals as of March 31, 2023. 

The company has fixed the price band at Rs 695 to Rs 735 per equity share for its maiden public offer. The initial public offering (IPO or Offer) of the company will open on Wednesday, September 6, 2023, for subscription and closes on Friday, September 8, 2023. Investors can bid for a minimum of 20 Equity Shares and in multiples of 20 Equity Shares thereafter.

The IPO consists of a fresh issue of equity shares of face value of Rs 10 each aggregating up to Rs 540 crores and an offer-for-sale (OFS) of up to 44.5 lakh equity shares. The promoters of the company are not selling any shares in the OFS.

Led by founder, Chairman and Managing Director, Dr Ajay P Thakker and Dr Ankit Thakker, Executive Director and Chief Executive Officer the company commenced operations in 2007 with a hospital in Thane, Maharashtra and has been operating for over 15 years as a corporate quaternary care healthcare service provider in the western regions of India. It currently operates three hospitals in Thane, Pune and Indore under the Jupiter brand.

Jupiter Hospitals has a strategic focus on the Western India healthcare market. It currently is in the process of developing a multispecialty hospital in Dombivli, Maharashtra, which is being designed to accommodate over 500 beds. The construction of the hospital began in April 2023 and will be spread across 600,000 sq. feet.

ICICI Securities Limited, Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited), and JM Financial Limited are the book running lead managers and KFin Technologies Limited is the Registrar to the Offer. The Equity Shares are proposed to be listed on BSE and NSE.