Jupiter Life Line Hospitals Shares End At 46.29% Premium Over IPO Price

Shares of Jupiter Life Line Hospitals Ltd. debuted at Rs 973 apiece on the National Stock Exchange, a premium of nearly 32.38% to their IPO price of Rs 735 apiece.

On the BSE, the shares listed at Rs 960, a premium of 30.61%.

Shares of the company ended at a premium of 46.29% over the IPO price, and gained 12.01% from its listing price to end at Rs 1,075.25

The IPO was subscribed 87% on day 1, 3.30 times on day 2, and 63.72 times on day 3. The bids were led by institutional investors, who subscribed 187.32 times, followed by non-institutional investors at 34.75 times. Retail investors witnessed a subscription of 7.73 times.

Jupiter Life Line Hospitals has raised Rs 260.72 crore from anchor investors ahead of its IPO on Sept. 5. The company allotted nearly 35.47 lakh shares at Rs 735 apiece to a total of 39 anchor investors.

Founded in 2007, Jupiter Life Line Hospitals is a multispecialty tertiary and quaternary healthcare provider in western India.

It currently operates three hospitals under the Jupiter brand in Thane, Pune, and Indore. The company has a total operational bed capacity of 1,194 beds and 1,246 doctors—including specialists, physicians and surgeons as of March 31.

The business is currently building a multispecialty hospital in Dombivli, Maharashtra, with around 500 beds. The construction commenced in April.

In fiscal 2023, the company's inpatient and outpatient income was distributed among hospitals, with Thane, Pune, and Indore hospitals accounting for 54%, 34%, and 12% of revenue from operations, respectively.