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
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
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:
- Repayment/pre-payment, in full or part, of borrowings availed from banks by the company and material subsidiary.
- General corporate purposes.
Peer Details
The companies considered by Jupiter Life Line Hospitals as its peers include:
- Apollo Hospitals Enterprise Ltd
- Fortis Healthcare Ltd
- Narayana Hrudalaya Ltd
- Max Healthcare Institute Ltd
- Global Health Ltd
- 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-
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.
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They have experience of over 15 years in the healthcare business and have built a reputation and brand largely through word-of-mouth marketing.
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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-
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.
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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.
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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.
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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.
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Jupiter Life Line Hospitals IPO FAQs
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.
The Basis of Allotment will happen on September 13th, 2023.
The IPO subscription window will open on September 6th, 2023.
Retail investors can apply for a minimum of one lot, which consists of 20 shares.
Jupiter Life Line Hospitals Ltd IPO will be listed on the NSE and BSE on September 18th, 2023.
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.
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.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
