As of September 6, the first day of the bidding process, Jupiter Life Line IPO has received bids for 39.29 lakh equity shares as opposed to the 84.97 lakh shares on the sale, meaning that the offering has been subscribed 0.47 times thus far.
The public may now subscribe to Jupiter Life Line Hospitals Ltd.'s initial public offering (IPO), which started today. Jupiter Life Line Hospitals Ltd. is a multi-specialty tertiary and quaternary healthcare provider. Investor response to the IPO, which closes on September 8, has been respectable thus far.
On September 6, the first day of the bidding, Jupiter Life Line IPO has received 0.47 times as much interest. 39.29 lakh equity shares were offered in the public offering, compared to 84.97 lakh shares available for purchase, as of 2:00 p.m.
The issue has a 66% subscription rate from retail investors and a 60% subscription rate from non-institutional investors (NII). According to data accessible on NSE, qualified institutional buyers (QIB) have thus far made bids for 0.01% of the shares that make up their reserved portion.
A maximum of 35% of the shares in the IPO are reserved by the company for retail investors, 15% are reserved for NIIs, and 50% are reserved for qualified institutional buyers.
On September 13, the business will set the IPO allotment basis, and on September 14, it will begin refunding investors. On September 15, eligible investors will receive shares credited to their demat accounts.
On September 18, the BSE and NSE stock markets are expected to list Jupiter Life Line Hospitals' shares.
The corporation plans to use the funds from the fresh issue to pay off debt and for other normal business needs.
Prior to the first public offering (IPO), Jupiter Life Line Hospitals received $261 crore on Tuesday from anchor investors.
The price range for the IPO of Jupiter Life Line has been set at 695-735 per share. A new issue of equity shares worth 542 crore rupees and an offer for sale (OFS) of 44.5 lakh equity shares by members of the promoter group and other shareholders make up the first public offering (IPO). Jupiter Life Line's IPO issue size at the top of the price range is 869.08 crore.
The initial public offering (IPO) of Jupiter Life Line Hospitals has a 20-share lot size and a minimum investment requirement of 14,700 rupees for individual investors.
As of March 31, 2023, Jupiter Lifeline Hospitals will have a total bed capacity of 1,194 hospital beds spread across three hospitals, making it one of the major multi-specialty tertiary and quaternary healthcare providers in the Mumbai Metropolitan Area (MMR) and western region of India.
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The IPO Review of Jupiter Life Line
Since Jupiter Life Line has strong financials and respectable return ratios, the majority of analysts advise investing in it for the long run.
With 24.5% revenue growth and 34.6% EBITDA growth between FY20 and FY23, Jupiter Life Line Hospitals has produced strong financial results. Also increasing from 17.8% in FY20 to 22.6% in FY23 was the overall EBITDA margin.
"ROE and ROCE stood at healthy levels of 20.1% and 20.5% in FY23, which are broadly in line with the average performance of listed peers. Considering that listed peers' average EV/EBITDA for FY23 is 30.4x, the issue is valued at a reasonable 22.4x FY23 EV/EBITDA. So, we advise 'Subscribe' to the issue," said Nirmal Bang.
GMP IPO for Jupiter Life Line Today
According to topsharebrokers.com, the grey market premium for Jupiter Life Line's first public offering today is $276 per share. As a result, the shares of Jupiter Life Line Hospitals are trading 276 percent over their initial public offering price.
Because of this, the Jupiter Life Line IPO share listing may occur at 1,011 per share, representing a premium of 37.55% over the issue price, given the GMP as of today and the upper end of the issue price.
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