Jupiter Life Line Hospital fixes price band at Rs 695-735 a share for IPO

The private hospital chain Jupiter Life Line Hospitals Ltd has set the price at Rs 695-735 per share for the IPO which will open on September 6. The IPO will end on September 8 and the anchor book will open on September 6. September 5th.
The refund will be made by September 14 and the crediting of the equity shares to the recipient account will take place on the 15th of September. The shares will be launched to the public on the 18th of September.
The company reduced the size of the new issue to Rs 542 crore from Rs 615 crore. The SFO includes up to 4.45 million shares held by existing shareholders and promoters. In the upper band of the issue price, the total issue size is Rs 869 crore and the company is valued at Rs 4,819 crore.
SFO includes up to 1.25 million shares of Devang Vasantlal Gandhi (HUF), up to 9,000 shares of Devang Gandhi with Neeta Gandhi, up to 1 million shares of Nitin Thakker plus Asha Thakker and up to 4 each ten thousand shares of Anuradha Ramesh Modi. with Megha Ramesh Modi and Bhaskar P Shah (HUF). The proceeds from the issuance of Rs 510.41 crore will be used to repay the debt. As of March 2023, the company’s total debt is Rs 476.37 crore. The company submitted a draft document in May and received SEBI approval on August 22.
ICICI Securities Ltd, Edelweiss Financial Services and JM Financial are the main regulators in this regard.
Jupiter Life has established itself as one of the leading multi-specialty tertiary and quaternary healthcare providers in the Mumbai Metropolitan Area (MMR) and the Western Region of India. With a total capacity of 1,194 beds spread across three hospitals, they have been asserting their prominent position in the healthcare sector since March 2023. Their team consists of 1,246 highly qualified doctors. , including specialists, doctors and surgeons. Operating under the well-known brand name “Jupiter”, their hospitals are located in Thane, Pune and Indore.
Jupiter Life is currently developing a state-of-the-art multi-specialty hospital in Dombivli, Maharashtra. This futuristic facility is designed to accommodate more than 500 beds, demonstrating their commitment to expanding healthcare services. Construction of the hospital began in April 2023, marking an important milestone in the ongoing effort to provide comprehensive and cutting-edge medical care to the region.
In fiscal year 2023, the company’s revenue came in at Rs 892.54 crore compared to Rs 733.12 crore a year ago. Net profit for the year came in at Rs 72.91 crore compared to Rs 51.13 crore last year.