Jupiter Hospital is into Healthcare-Hospitals and is looking raise funds through Fresh Issue and Offer for Sale
Jupiter Hospital IPO is a public offering of shares by Dr. Ajay Thakker, Dr. Ankit Thakker andWestern Medical Solutions LLP. The IPO will open on September 06 and will close on September 08. The price band is ₹695 to ₹735 per share and the lot size is 20 shares. The issue size is ₹869.08 crore. The shares are expected to be listed on NSE, BSE on September 18 (^). Some additional information that you may find useful are: : (**) - based on higher price band (^) indicative date
Quick Pointers
- Promoters of the company are Dr. Ajay Thakker, Dr. Ankit Thakker andWestern Medical Solutions LLP Currently promoters hold 49.79% stake in the company.
- Company aims to raise between Rs 851 to 869 crs through this IPO.
- The net proceeds of the issue will be utilized to 1) Repayment/pre-payment, in full or part, of borrowings availed from banks by the Company and Material Subsidiary amounting to Rs. 510.406 crores and and 2) General corporate purpose
- Anchor bidding is expected to commence one day prior to the IPO dates. Tentative anchor bidding date would be 05-Sep-23.
- Price band for the IPO has been fixed at Rs 695 to 735 per share and bid lot are in multiple of 20 shares. The implied market cap post-issue at Rs 4,586 to 4,819 crs.
- As per the tentative schedule, allotment date of this IPO is most likely on September 13 and share are expected to be listed on NSE, BSE on September 18.
- Company has direct competition in the Healthcare - hospitals space. In listed peers it is competing with Apollo Hospital Enterprise, Fortis Healthcare, Max Healthcare, Narayana Hrudayalaya, Global Health and Krishna Institute of Medical Science amongst others.
- ICICI Securities, Edelweiss Financial Services, JM Financial has been appointed as Merchant Banker to the issue. KFin Technologies Ltd. has been appointed as official registrar of the issue.
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IPO Quick Snapshot
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)
Promoters of the company are Narendra Joharimal Goliya Currently promoters hold 80.67% stake in the company.
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