Jupiter Life Line Hospitals IPO To Open On September 6; Price Band Set At ₹695 To ₹735

Jupiter Life Line Hospitals Limited has fixed the price band at ₹695 to ₹735 per Equity Share for its maiden public offer. The initial public offering of the Company will open on Wednesday, September 6, 2023, for subscription and closes on Friday, September 8, 2023. Investors can bid for a minimum of 20 Equity Shares and in multiples of 20 Equity Shares thereafter.

The IPO consists of a fresh issue of equity shares of face value of ₹10 each aggregating up to Rs 5,402.01 million and an offer-for-sale (OFS) of up to 4.45 million equity shares. The promoters of the Company are not selling any shares in the OFS.

Led by founder, Chairman and Managing Director, Dr. Ajay P Thakker with over 3 decades of experience in the field of medicine and healthcare and Dr. Ankit Thakker, Executive Director and Chief Executive Officer who has a more than a decade experience in the healthcare sector. The Company commenced operations in 2007 with a hospital in Thane, Maharashtra and has been operating for over 15 years as a corporate quaternary care healthcare service provider in the western regions of India. It currently operates three hospitals in Thane, Pune and Indore under the “Jupiter” brand.

Jupiter Hospitals has a strategic focus on the western India healthcare market. It currently is in the process of developing a multispecialty hospital in Dombivli, Maharashtra, which is being designed to accommodate over 500 beds. The construction of the hospital began in April 2023 and will be spread across 600,000 sq. feet.

ICICI Securities Limited, Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited), and JM Financial Limited are the book running lead managers and KFin Technologies Limited is the Registrar to the Offer. The Equity Shares are proposed to be listed on BSE and NSE.