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Jupiter Life Line Hospitals plans to go public to raise Rs 869.08 crore and the subscription for the IPO will be open from September 6 to September 8, 2023. The price band is fixed at Rs 695–735 per share.
The IPO comprises of fresh issue of shares worth Rs 542 crore and offer for sale of shares worth Rs 327.08 crore. The face value of each share is set at Rs 10 and the lot size is 20 shares.
Company Summary
Jupiter Life Line Hospitals Limited is a key multi-specialty tertiary and quaternary healthcare providers in the Mumbai Metropolitan Area and western region of India with a total bed capacity of 1,194 hospital beds across three hospitals as of March 31, 2023. The company has been operating for over 15 years as a corporate quaternary care healthcare service provider in the western regions of India and currently operate their hospitals located in Thane, Pune and Indore under the “Jupiter” brand.
The company said in its red herring prospectus that it has equipped their hospitals with over 30 key specialties. The company said patient volumes (comprising inpatient and outpatient) at their hospitals stood at 4,47,573 in FY21, 6,45,446 in FY22, and 773,937 in FY23.
The company said they have a low dependence on central and state government schemes for their revenues, with payments made through (i) self-payers; (ii) insurance companies, third party administrators and corporations; and (iii) government schemes, stood at 45.33%, 53.35% and 1.32%, respectively, of the total income from hospital services in FY23.
The company is in the process of developing a multi-specialty hospital in Dombivli, Maharashtra, which is designed to accommodate over 500 beds.
Company Strengths
- Multispecialty tertiary and quaternary healthcare provider with a track record of over 15 years.
- Strong brand recognition and clinical expertise.
- ‘All-hub-no-spoke’ model with focus on quality care supported by modern infrastructure and technological capabilities.
- Ability to attract and retain skilled and experienced healthcare professionals.
- High operational and financial performance through high patient volumes, cost efficiency and diversified revenue streams across hospitals.
- Experienced and qualified professional management team with a focus on environmental, social and governance initiatives.
Company Financials
Period Ended | FY23 | FY22 | FY21 |
Total Assets (Rs in crore) | 985.53 | 908.7 | 788.91 |
Total Revenue (Rs in crore) | 902.96 | 737.14 | 490.27 |
EBITDA (Rs in crore) | 211.74 | 157.41 | 71.27 |
EBITDA Margin | 23.45% | 21.35% | 14.54% |
Profit After Tax (Rs in crore) | 72.91 | 51.13 | -2.3 |
PAT Margin | 8.07% | 6.94% | -0.47% |
Return on Equity | 20.03% | 17.73% | -0.93% |
Return on Capital Employed | 20.94% | 16.08% | 6.07% |
Purpose of the IPO
- The proceeds of the offer for sale will be received by the selling shareholders after deducting their portion of the offer-related expenses and relevant taxes thereon. The proceeds of the offer for sale will not form a part of the net proceeds.
- The net proceeds of fresh issue will be utilised for repayment/pre-payment, in full or part, of borrowings availed from banks by the company and material subsidiary totalling Rs 510.46 crore; and general corporate purposes.
Company Promoters
Ajay Thakker, Ankit Thakker And Western Medical Solutions LLP are the promoters of the company.
IPO Details
IPO Subscription Date | September 6 to September 8, 2023 |
Face Value | Rs 10 per share |
Price | Rs 695 to Rs 735 per share |
Lot Size | 20 Shares |
Total Issue Size | 1,18,24,163 shares aggregating up to Rs 869.08 crore |
Fresh Issue | 73,74,163 shares aggregating up to Rs 542.00 crore |
Offer for Sale | 44,50,000 shares of Rs 10 aggregating up to Rs 327.08 crore |
Issue Type | Book Built Issue IPO |
Listing At | BSE, NSE |
IPO Lot Size
Application | Lots | Shares | Amount |
Retail (Minimum) | 1 | 20 | Rs 14,700 |
Retail (Maximum) | 13 | 260 | Rs 1,91,100 |
Small HNI (Minimum) | 14 | 280 | Rs 205,800 |
Small HNI (Maximum) | 68 | 1,360 | Rs 9,99,600 |
Large HNI (Minimum) | 69 | 1,380 | Rs 10,14,300 |
Allotment Details
Allotment of Shares | September 13, 2023 |
Initiation of Refunds | September 14, 2023 |
Credit of Shares to Demat Account | September 15, 2023 |
Listing Date | September 18, 2023 |
To check allotment, click here