Jupiter Lifeline Hospital IPO: Last day to subscribe

8 Sep 2023 , 01:06 PM

Jupiter Lifeline Hospital’s IPO opened for subscription on Wednesday, September 6, and is set to close today. The demand for the IPO has been robust, with the issue being oversubscribed 3.30 times by the end of the second day of subscription. To subscribe to the IPO, you can click here.

By the third day, the subscription rate had surged to an impressive 10.95 times by 1:00 PM. Notably, the IPO’s retail investors portion was oversubscribed 5.12 times, the Non-Institutional Investor (NII) portion garnered a subscription rate of 17.91 times, and the Qualified Institutional Buyers (QIBs) portion saw a subscription rate of 16.10 times.

The Jupiter Lifeline Hospital IPO consists of a fresh issue of 73.74 lakh shares, totaling Rs 542 crore, and an offer-for-sale (OFS) portion comprising 44.5 lakh shares with a face value of Rs 10 each. This OFS portion, amounting to Rs 869.08 crore, is being sold by promoter selling shareholders Devang Vasantlal Gandhi and Neeta Gandhi. The overall issue size for Jupiter Lifeline Hospitals IPO stands at Rs 869.08 crores.

The net proceeds generated from the fresh issue will primarily be used to repay debt obtained from banks by the company and its material subsidiary, in addition to meeting general corporate purposes.

The book-running lead managers for the IPO are ICICI Securities, Edelweiss Financial Services, and JM Financial, while Kfin Technologies Ltd serves as the registrar to the issue.