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Jupiter Life Line Hospitals raises ₹261 crore from anchor investors ahead of IPO

Jupiter Life Line Hospitals, the multi-specialty hospital chain operator, has raised 261 crore from anchor investors ahead of its Initial Public Offering (IPO) that opens for subscription today, Wednesday.

The company on Tuesday said it decided to allocate 35.47 lakh equity shares to 39 entities at 735 apiece, which is also the upper end of the price band.

Singapore Government, Abu Dhabi Investment Authority, Goldman Sachs, Fidelity Funds, Nomura, HDFC Mutual Fund (MF), Nippon India MF, Axis MF, Kotak Mahindra MF, Aditya Birla Sun Life MF, SBI Life Insurance Company and HDFC Life Insurance, are among the anchor investors.

Jupiter Life Line IPO comprises a fresh issue of equity shares worth 542 crore and an Offer For Sale (OFS) of 44.5 lakh equity shares by promoter group entities and other shareholders.

Jupiter Life Line IPO price band has been fixed at 695-735 per share. The offer will close on September 8.

Read here: Jupiter Life Line Hospital IPO price band fixed; Check GMP, other key details you should know

The company proposes to utilise the proceeds of the fresh issue to retire debt and for general corporate purposes.

ICICI Securities, Edelweiss Financial Services, and JM Financial are the book-running lead managers to the issue. The equity shares are proposed to be listed on BSE and NSE.

Jupiter Life Line Hospital operates in Thane, Pune and Indore under the ‘Jupiter’ brand with a total bed capacity of 1,194 as of December 2022. It is also in the process of developing a multi-specialty hospital in Dombivli, Maharashtra.

Earlier, in its pre-IPO placement, Jupiter Life Line Hospitals had raised 123 crore by issuing around 16.7 lakh shares at a price of 735 apiece to the investors.

Read here: Jupiter Life Line Hospitals mops up 123 crore in pre-IPO placement

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Updated: 06 Sep 2023, 06:04 AM IST