Jupiter Life Line Hospitals Shares List with 46% Gain on Strong IPO Subscription and Financial Performance
Jupiter Life Line Hospitals shares listed on the National Stock Exchange (NSE) on September 18, 2023, with a gain of 46.36% over the issue price of Rs 735. The stock touched an intraday high of Rs 1,108.95 and finally settled at Rs 1,075.75, with a volume of 1.28 crore equity shares.
The robust IPO subscription of 63.72 times during September 6-8, healthy financial performance in the past years, and the strong outlook for the healthcare sector boosted investor confidence.
The company has raised Rs 869 crore via public issue, including a fresh issue of Rs 542 crore, which will be utilized mainly for repaying debts worth Rs 510.4 crore and the remaining for general corporate purposes.
Jupiter Hospital is a well-established multi-specialty healthcare provider in the western region of India, and it is planning to expand its operations in the future. The company operates three hospitals in the Mumbai Metropolitan Area (MMR) and the western region of India (Thane, Pune, and Indore) with a total capacity of 1,194 beds as of March 2023. It has also started the construction of a fourth multi-specialty hospital in Dombivli, Maharashtra, with a capacity of over 500 beds.
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