IPO Details

Bidding Dates

06 Sep '23 - 08 Sep '23

Minimum Investment

₹14,700 / 1 Lots (20 Shares)

Price Range

₹695 - ₹735

Maximum Investment

₹191,100 / 13 Lots (260 Shares)

Retail Discount

Not Applicable

Issue Size

₹869.08 Cr

Investor category and sub category

Qualified Institutional Buyers  |   Non-Institutional Investors  |   Retail Individual Investors  |  

Jupiter Life Line Hospitals IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Sep 6, 2023

IPO Closing Date

Sep 8, 2023

Basis of Allotment

Sep 13, 2023

Initiation of Refunds

Sep 14, 2023

Credit of Shares to Demat Account

Sep 15, 2023

IPO Listing Date

Sep 18, 2023

UPI Mandate Expiry Date

Sep 8, 2023

Jupiter Life Line Hospitals IPO Subscription Details

DateQIBNIIRetailTotal

Day 1Sep 6, 2023

0.01 1.49 1.17

Day 2Sep 7, 2023

1.09 6.88 3.23

Jupiter Life Line Hospitals IPO Subscription Live Status

Investor Category Subscription (Times)
Qualified Institutions buyers 1.09
Non-Institutional Buyers 6.88
Retail Investors 3.23
Total 3.38

About Jupiter Life Line Hospitals Ltd.

The company is a key multi-speciality tertiary and quaternary healthcare provider. As of March 31, 2023, they employ 1,306 doctors, including specialists, and have a total capacity of 1,194 beds across three hospitals in Thane, Pune and Indore. They are also currently developing a 500-bed multi-speciality hospital in Dombivli, Maharashtra. The hospitals at Thane, Pune and Indore have been certified by the NABH and for medical testing by the NABL.

Jupiter Life Line focuses on servicing the densely populated micro markets in the western regions of India. As a multi-speciality hospital, they offer various medical solutions and services, including breast care centres, cardiology, dental care, dermatology, ENT, endocrinology and diabetes, neurosurgery, oncology, organ transplant, plastic and cosmetic surgery, etc. 

Their hospitals function on an ‘all-hub-no-spoke’ model, with each hospital being an independent, full-service hospital. Their Thane and Pune hospitals are “greenfield” projects, and all three of their hospitals are located on land owned by them on a freehold basis.

Health expenditure in terms of current prices rose at 15.1% CAGR between FY2012 and FY2022. This happened due to the rise in prices of healthcare solutions, rise in government schemes and expenditure on health, rising income levels and disease incidence. With the increase in population, urbanisation and per capita income in the coming years, the healthcare market is set to expand in urban India, helping healthcare providers like Jupiter Life Line to expand as well.

Jupiter Life Line Hospitals Ltd IPO Details

Jupiter Life Line Hospitals Ltd IPO Date

Retail investors can bid for the Jupiter Life Line Hospitals IPO that will be open between Wednesday, September 6, 2023 and Friday, September 8, 2023. The IPO will be listed on the NSE and BSE exchanges on Monday, September 18, 2023.

Jupiter Life Line Hospitals Ltd IPO Price Band

Jupiter Life Line Hospitals is a 100% book-built IPO with a price range of ₹695 to ₹735 per share.

Jupiter Life Line Hospitals Ltd IPO Lot Size

The Jupiter Life Line Hospitals Ltd IPO has a lot size of 20 shares. Therefore, the minimum investment will be around ₹13,900.

Jupiter Life Line Hospitals Ltd IPO Objectives 

The net proceeds of the Fresh Issue are proposed to be utilised in the following manner:

  1. Repayment/pre-payment, in full or part, of borrowings availed from banks by the company and material subsidiary.
  2. General corporate purposes.

Peer Details

The companies considered by Jupiter Life Line Hospitals as its peers include:

  1. Apollo Hospitals Enterprise Ltd
  2. Fortis Healthcare Ltd
  3. Narayana Hrudalaya Ltd
  4. Max Healthcare Institute Ltd
  5. Global Health Ltd
  6. Krishna Institute of Medical Sciences Ltd

How to Check the Allotment Status of the Jupiter Life Line Hospitals Ltd IPO?

A: Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the individual order details page of the IPO that you had applied for. 
  • Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.

Contact Details of Jupiter Life Line Hospitals Ltd 

Registered office: Jupiter Hospital, Eastern Express Highway, Thane (West), Mumbai – 400 601, Maharashtra, India

Phone: + 91 22 21725623

E-mail: cs@jupiterhospital.com

Jupiter Life Line Hospitals Company Financials

Particulars Period Ending on March 31, 2023 Year ending on March 31, 2022 Year ending on March 31, 2021
Total Income 902.96 737.14 490.27
Profit After Tax (PAT) -22.97 511.28 729.05
Current Ratio 1.58 1.46 1.18
Return on Capital Employed 20.94% 16.08% 6.07%
Debt Service Coverage Ratio 2.86 2.54 1.32

Know before investing

Strengths

3
  1. Jupiter Life Line has a low dependence on central and state government schemes for their revenues. Payments made through self-payers and insurance companies/third-party administrators/corporations account for 45.33% and 53.35% of their income from hospital services, respectively, in FY2023.

  2. They have experience of over 15 years in the healthcare business and have built a reputation and brand largely through word-of-mouth marketing.

  3. Between FY2021 and FY2023, their average occupancy rate has increased by 37.6%, 41.6% and 56.6% in the hospitals in Thane, Pune and Indore, respectively. In the same period, their average revenue per occupied bed has improved by 10.23%, 20.70% and 100.37% in the hospitals in Thane, Pune and Indore, respectively.

Risks

4
  1. In FY2023, their hospital in Thane made up over 54% of their total revenue from operations. This can be considered a concentration of sources of revenue which creates a degree of risk.

  2. Although their bed occupancy rate is increasing, it is still lower than that of the majority of their listed peers. To increase their occupancy rates, they may have to offer their healthcare services at discounted rates, which could adversely affect their profitability and branding.

  3. In continuation with the above point, Jupiter Life Line Hospitals faces tough competition from premium hospital chains such as Apollo Hospitals Enterprise, Fortis Healthcare, Narayana Hrudalaya, and Max Healthcare Institute, among others. All of these have far larger networks and revenues than Jupiter Life Line.

  4. As of March 31, 2023, their aggregate outstanding borrowings, on a consolidated basis, amounted to ₹476.36 crores. Their debt service coverage ratio thus stands at 1.29 in FY2023. This can be a cause for concern, given that their net increase in cash flow has been volatile in the past 3 years, standing at ₹31, ₹83.9 and ₹11.8 crores in FY2023. FY2022 and FY2021, respectively.

  • How to Apply in IPO
  • How to Check IPO Allotment Status

Login to Angel One App / Website & click on IPO

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Jupiter Life Line Hospitals IPO FAQs

What is Jupiter Life Line Hospitals Ltd's IPO?

Jupiter Life Line Hospitals IPO has both fresh issue and OFS components. It is a book-building issue with a price range of ₹695 to ₹735 per share. The issue opens on September 6th, 2023. 

When will Jupiter Life Line Hospitals Ltd's IPO be allotted?

The Basis of Allotment will happen on September 13th, 2023.

When will Jupiter Life Line Hospitals Ltd's IPO open for subscription?

The IPO subscription window will open on September 6th, 2023.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for a minimum of one lot, which consists of 20 shares.

When will Jupiter Life Line Hospitals Ltd list on exchanges?

Jupiter Life Line Hospitals Ltd IPO will be listed on the NSE and BSE on September 18th, 2023.

How do I check the allotment status of the Jupiter Life Line Hospitals Ltd IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the individual order details page of the IPO that you had applied for. 
  • Check the IPO allotment status as such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.

What would be the listing gains on the Jupiter Life Line Hospitals Ltd IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange, which is September 18th, 2023, for Jupiter Life Line Hospitals Ltd.

I have finished the application process for the Jupiter Life Line Hospitals Ltd IPO, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you. 

How do I approve the UPI mandate request for Jupiter Life Line Hospitals Ltd's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Jupiter Life Line Hospitals Ltd using one PAN?

You can submit only one application using your PAN card.