Jupiter Life Line Hospitals IPO: Check day 2 subscription status and latest GMP
Jupiter Life Line Hospitals IPO: The public issue received bids of 2,80,31,300 shares against the offered 84,97,169 equity shares, at a price band of Rs 695-735, according to the data available on the stock exchanges.
The initial public offering (IPO) of hospital chain Jupiter Life Line Hospitals Limited was subscribed 3.30 times on the second day of bidding after investors across all categories showed interest. On the first day, the issue was subscribed 0.87 times.
The issue received bids of 2,80,31,300 shares against the offered 84,97,169 equity shares, at a price band of Rs 695-735, according to the data available on the stock exchanges.
Subscription details: Non-Institutional Investors Portion was subscribed 6.63 times. Retail Portion was subscribed 3.08 times, whereas, Qualified Institutional Buyer Portion was subscribed 1.12 times. The issue kicked off for subscription on Wednesday, September 6, 2023 and will close on Friday, September 8, 2023.
Anchor investors: A day prior to the opening of the issue, Jupiter Life Line Hospitals Ltd had raised Rs 261 crore from anchor investors.
Foreign Investors and Domestic Institutions who participated in the anchor were the Singapore Government, Abu Dhabi Investment Authority, Goldman Sachs, Fidelity Funds, Nomura, HDFC Mutual Fund (MF), Nippon India MF, Axis MF, Kotak Mahindra MF, Aditya Birla Sun Life MF, SBI Life Insurance Company and HDFC Life Insurance.
GMP: As of today, the unlisted shares of Jupiter Life Line Hospitals Limited were trading at a premium of Rs 225, according to topsharebrokers.com.
Therefore, there has been no change in the company’s grey market premium (GMP) since yesterday.
At the current GMP of Rs 218, the estimated listing price stands at Rs 960/share, marking a 30.61 per cent premium over the IPO issue price.
IPO Review: Brokerages such as SBI Securities, Nirmal Bang, Geojit Financial Services, Hem Securities, Reliance Securities, Hensex Securities, Sushil Finance, Ventura, ICICI Securities, Ajcon Global, Dalal & Broacha, BP Wealth and SMIFS Ltd have given a ‘subscribe’ rating to the issue.
Booking running lead managers and IPO registrar: Securities Limited, Nuvama Wealth Management Limited and JM Financial Limited are the book running lead managers and KFin Technologies Limited is the Registrar to the Offer. The Equity Shares are proposed to be listed on BSE and NSE.