Jupiter Life Line Hospitals IPO subscribed 63.72 on final day

9 Sep 2023 , 11:46 AM

Jupiter Life Line Hospitals’ initial public offering (IPO), valued at Rs 869 crore, saw overwhelming demand as it concluded, with a remarkable subscription of 63.72 times the issue size. The IPO received bids for 54.14 crore equity shares against the offer size of 84.97 lakh shares.

Among the various investor categories, Qualified Institutional Buyers (QIBs) displayed significant enthusiasm, subscribing 187.32 times their allotted quota, representing 50% of the total offer. High net worth individuals (non-institutional investors) and retail investors also showed strong interest, bidding 34.75 times and 7.73 times, respectively, against their reserved portions, which constituted 15% and 35% of the total offer.

The IPO, which commenced on September 6, had already achieved a subscription rate of 3.3 times by the end of the second day of bidding.

Jupiter Life Line Hospitals, headquartered in Mumbai, aimed to raise Rs 869.08 crore through its IPO, with the price band set between Rs 695 and Rs 735 per share. The public issue consisted of a fresh issue component amounting to Rs 542 crore and an offer-for-sale (OFS) of 44.5 lakh shares worth Rs 327.08 crore, featuring contributions from ten selling shareholders, including the promoter group.

Notably, on September 5, a day prior to the official IPO opening, Jupiter Hospital had successfully secured Rs 260.72 crore from numerous anchor investors. This included investments from prominent names such as Fidelity Funds, Goldman Sachs, Nomura Funds, Government of Singapore, HSBC Global, Abu Dhabi Investment Authority, SBI Mutual Fund, ICICI Prudential, Florida Retirement System, HDFC Mutual Fund, Aditya Birla Sun Life Trustee, and HDFC Life Insurance.