The allotment for the initial public offer (IPO) of Jupiter Life Line Hospitals, a multi-specialty tertiary and quaternary healthcare provider, is likely to be finalised today, September 13. Investors can check their allotment status on the issue's registrar Kfin Technologies' website as well as on BSE.
The ₹869.08 crore IPO was open for subscription between September 6 and September 8 at a price band in the range of ₹695-735 per share.
The issue was overall subscribed to 64.80 times with the portion for qualified institutional bidders (QIBs) booked the most, 181.89 times. Meanwhile, the non-institutional investors' category was subscribed to 36 times and the quota reserved for retail investors was subscribed to only 8 times during the three-day bidding process.
The firm is likely to be listed on September 18 on stock exchanges BSE and NSE.
Here's how you can check the allotment status
1) Go to the website.
2) Select ‘Equity’ and then from the dropdown, select the issue name.
3) Enter your application number and PAN card number.
4) Click on the "Search" button.
In a similar way, you can also check on its registrar's website.
1) Go to the website of Kfin Technologies.
2) Click on ‘Company Selection’ and then select the IPO name.
3) Now, enter your PAN, application number, DP / Client ID or account number / IFSC.
4) Click on ‘Search’.
The status will only appear after allotment if the details are entered correctly. Bidders who could not get allotment in the IPO may see the initialisation of refunds on Thursday, September 14. Others, who would be allotted shares may see the credit of shares in the Demat accounts by Friday, September 15.
The IPO comprised of a fresh issue of 73.74 lakh shares worth ₹542 crore and an offer sale of 44.5 lakh equity shares by promoter group entities and other shareholders worth ₹327.08 crore. The company is going to utilise net fresh issue proceeds mainly for debt reduction worth ₹510.4 crore, and the remaining for general corporate purposes.
Incorporated in 2002, Jupiter Lifeline Hospital Limited (JLHL) is a key multi-specialty tertiary and quaternary healthcare provider in the Mumbai Metropolitan Area (MMR) and western region of India. As on March 2023, it has a total capacity of 1,194 hospital beds across three hospitals that operate under the ‘Jupiter’ brand in Thane, Pune and Indore with 1,306 doctors. Also, the hospitals are equipped with over 30 key specialties in order to simplify the process of delivery of healthcare.
For the financial year FY23, the company's net profit rose 42.6 percent to ₹72.9 crore while its revenue from operations grew 21.7 percent to ₹892.5 crore. Meanwhile, its EBITDA (earnings before interest, tax, depreciation and amortisation) also jumped 31.2 percent to ₹201.3 crore during the same period and its EBITDA margin expanded by 163 bps YoY to 22.55 percent in FY23.
Jupiter Hospitals compares itself with listed entities like Apollo Hospitals Enterprise, Fortis Healthcare, Narayana Hrudayalaya, Global Health, Krishna Institute of Medical Sciences, and Max Healthcare Institute.
Brokerages recommended subscribing to the issue on the back of fair valuations, decent return ratios and margins, and favourable risk-reward ratios. Also, the advantage of regional dominance and operational efficiency are some other key positives for the IPO.
Jupiter Life Line Hospitals GMP today
Ahead of the listing, the company's shares in the grey market are trading at a premium of ₹250, indicating a strong listing for the issue at around 35 percent premium.
However, one must note that the grey market premium is only an indicator of how the company's shares are performing in the unlisted market and can change quickly.