Jupiter Hospital is into Healthcare Hospitals and is looking raise funds through Fresh Issue and Offer for Sale
Jupiter Hospital IPO: Jupiter Life Line Hospitals Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 10 per share via initial public offering.
Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 615 crores and an Offer for Sale up to 4,450,000 Equity Share.. ICICI Securities, Edelweiss Financial Services, JM Financial have been appointed as lead merchant bankers for the proposed IPO. It has appointed KFin Technologies Ltd. as Registrar and Share transfer Agent. Company is yet to finalize issue size and some other important details relating to the IPO.
Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 615 Crs and offer-for-sale (OFS) of up to 4,450,000 equity shares by Devang Vasantlal Gandhi (HUF), Devang Gandhijointly with Neeta Gandhi, Nitin Thakkerjointly with Asha Thakker, Anuradha Ramesh Modi with Megha Ramesh Modi(as trusteesfor the benefit of Modi Family Private Trust), Bhaskar P Shah (HUF), Rajeshwari Capital Market Limited, Vadapatra Sayee Raghavan (HUF), Sangeeta Ravat jointly with Dr. Hasmukh Ravat, Dr. Hasmukh Ravat jointly with Sangeeta Ravat and Shreyas Ravatjointly with Sangeeta Ravat who will offload upto 1,250,000 Equity Shares up to 900,000 equity shares, up to 1,000,000 equity shares, up to 400,000 equity shares, up to 400,000 equity shares, up to 200,000 equity shares, up to 200,000 equity shares, up to 40,000 equity shares, up to 40,000 equity shares and up to 20,000 equity shares...
Objects of the issue:
1) Repayment/pre-payment, in full or part, of borrowings availed from banks by the Company and Material Subsidiary amounting to Rs. 463.9 crores, and 2) General corporate purpose.
About Company:
Mumbai based Jupitar Life Line Hospitals (Jupiter Hospital) established in 2002 and is promoted by Dr. Ajay Thakker, Dr. Ankit Thakker andWestern Medical Solutions LLP. Company is into providing healthcare services to multi-specialty tertiary and quaternary healthcare segment 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 December 31, 2022 (Source: CRISIL Report). Company currently operate hospitals in Thane, Pune and Indore under the “Jupiter” brand. Company is currently in the process of developing a 500 beds multi-specialty hospital in Dombivli, Maharashtra.
About Industry:
The healthcare market for West India is expected to grow at a CAGR of 16% from ₹ 1.15 trillion in Fiscal 2022 to ₹ 2.25 trillion by Fiscal 2027. Lower penetration of chained hospitals, high populationdensity of the region, increasing average revenue per occupied bed figures of private players in the region and increasing penetration of health insurance in the region are expected to drive the growth of the healthcare delivery market in the western region of India. The western region being better served by health insurance will also support the growth of healthcare delivery market. (Source: CRISIL Report)
Source: SEBI, BSE, NSE, DRHP, Jupiter Hospital, Industry Data
Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.
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