Bidding for Jupiter Life Line Hospitals Limited IPO is open from 6th September 2023. You can bid in the IPO till 8th September 2023.
Jupiter Life Line Hospitals is offering a fresh issue of equity shares aggregating up to Rs. 542 crores, and an offer for sale of equity shares aggregating up to Rs. 327.08 crores. The combined total IPO Issue size is Rs. 869.08 crores.
Here is the complete IPO bidding process for new IPO investors.
The investment bankers for the IPO are ICICI Securities Ltd, Nuvama Wealth Management Ltd, and JM Financial Limited.
Whereas, KFin Technologies Ltd is the registrar to the IPO. Once the IPO is over. You need to check the allotment status with the registrar to the IPO.
You will find all the relevant details in the article that will help you make informed IPO investment decisions in Jupiter Life Line Hospitals Limited IPO.
Jupiter Life Line Hospitals Limited IPO Details
| Particulars | IPO Details |
| IPO Opening date | 6th September 2023 |
| IPO Closing date | 8th September 2023 |
| IPO Price | Rs. 695 to Rs. 735 per share |
| Lot size | 20 shares |
| Issue size | Rs. 869.08 Cr |
| No. of fresh shares | 7,374,163 shares aggregating to Rs. 542 crores |
| Offer for Sale | 4,450,000 shares aggregating to Rs. 327.08 crores |
| Listing on | BSE and NSE |
Other upcoming IPOs in 2023.
Jupiter Life Line Hospitals Limited IPO Timetable
| Particulars | IPO Details |
| IPO Opening date | 6th September 2023 |
| IPO Closing date | 8th September 2023 |
| Basis of Allotment date | 13th September 2023 |
| Credit of Share | 15th September 2023 |
| Listing date | 18th September 2023 |
Jupiter Life Line Hospitals Limited GMP
Grey Market Price (GMP) shows you an indicative price of Jupiter Life Line Hospital upon listing. You should take precautions because GMP is not an official price and only an indicative value.
In the past 4-5 days GMP data collected from various sources like reputed financial websites, news channels, stockbrokers and IPO blogs is under.
| Date | GMP |
| 6th September 2023 | Rs. 218 |
| 5th September 2023 | Rs. 218 |
| 4th September 2023 | Rs. 218 |
| 3rd September 2023 | Rs. 210 |
Jupiter Life Line Hospitals Limited Issue Size
Total Issue Size = Rs. 869.08 crores.
Of which the Fresh Shares are for an aggregate amount of up to Rs. 542 Crs. The OFS portion of the IPO is an aggregate amount of Rs. 327.08 crores.
The IPO bidding process can be found here.
Industry Overview
As per the Global Health Expenditure database compiled by the WHO, in 2020, India’s expenditure on healthcare was 3.0% of GDP.
India’s healthcare spending as a percentage of GDP trails not just developed countries, such as the US and UK, but also developing countries such as Brazil, Nepal, Vietnam, Singapore, Sri Lanka and Malaysia.
The government aims to increase public healthcare expenditure to 2.5% to 3% of GDP by 2025 from approximately the current 2%, under the National Health Policy.
India’s current healthcare expenditure (CHE) is skewed more towards private expenditure compared with public expenditure
Health infrastructure of India is in dire need of improvement
India has 7 physicians and 17 nursing personnel per 10,000 population (2020). This trails the global median of 16 physicians and 40 nursing personnel.
India lags behind developing countries such as Brazil (21 physicians, 55 nurses), Malaysia (21 physicians, 34 nurses) and other Southeast Asian countries in the health services.
Overview of the healthcare industry
India’s healthcare market consists of hospitals, diagnostic centers, domestic pharmaceuticals and medical devices. Research estimates show hospitals account for a major share of the healthcare pie (62%), followed by domestic pharmaceuticals (20%), medical devices market (9%) and diagnostics (9%) as of Fiscal 2023
Emerging technologies in healthcare delivery
Developments in information technology created systems for faster and more reliable services. While, on the one hand, these systems help increase the reach and quality of healthcare delivery systems across the country, on the other, they enable healthcare delivery providers to improve efficiency
CRISIL Research expects the use of 5G, smartphone penetration, and an increasingly health-conscious population to deepen digital healthcare penetration.
Jupiter Life Line Hospitals Limited Overview
Jupiter Life Line is a multi-specialty hospital in the western region with a total bed capacity of 1,194 hospital beds across three hospitals as of March 31, 2023.
It commenced operations in 2007 with a hospital in Thane. Currently, it operates hospitals located in Thane, Pune and Indore under the “Jupiter” brand.
Jupiter Life Line is also in the process of developing a multispecialty hospital in Dombivli, Maharashtra, for 500 beds.
Jupiter Life Line is equipped with over 30 key specialties like
- organ transplant,
- oncology,
- orthopedics,
- cardiology,
- pediatrics,
- neurology and neurosurgery
- brachytherapy,
- radiotherapy,
- robotic knee replacement
- robotic neurorehabilitation
Jupiter Life Line treated 645,446, and 773,937 patients in FY 2022 and FY 2023 respectively.
The three Jupiter Life Line hospital operates on an ‘all-hub-no-spoke’ model where each hospital is independent, individually well-equipped with skilled healthcare professionals as well as advanced infrastructure to serve the healthcare needs of the patients, right from diagnostics to surgery and rehabilitation
Jupiter Life Line Hospitals Limited Subscription Data
Subscription data shows the number of times the IPO is subscribed overall and also under each category. The day-wise subscription data is below.
| Date | QIB | NII | Retail | Total |
| Day – 1 6th September 2023 | 0.01 | 1.43 | 1.12 | 0.88 |
| Day – 2 7th September 2023 | 1.12 | 6.63 | 3.08 | 3.30 |
| Day – 3 8th September 2023 | 187.32 | 34.75 | 7.73 | 63.72 |
Jupiter Life Line Hospitals Limited Promoter Details
The promoters of the company are
- Dr. Ajay Thakker
- Dr. Ankit Thakker
- Western Medical Solutions LLP
Collectively, the three promoters hold 23,677,145 equity shares, which constitute 40.69% of the issued, subscribed and paid-up equity share capital of the company.
6 persons, who are mostly family members & friends form part of the promoter group. The promoter group collectively hold 5,298,208 Equity Shares, equal to 9.10% of the pre-issue shares issued.
In short, people forming part of the promoter and promoter group jointly hold 49.79% of the equity share capital.
Jupiter Life Line Hospitals Limited Financials
Key financials of Jupiter Life Line Hospitals Limited Ltd for the last 3 completed financial years are under. These include the fiscal years FY23, FY22 and FY21.
| Details | FY- 2023 | FY- 2022 | FY- 2021 |
| Total Assets | Rs. 985.53 cr | Rs. 908.69 cr | Rs. 788.90 cr |
| Total Income | Rs. 902.96 cr | Rs. 737.14 cr | Rs. 490.26 cr |
| Profit/ Loss After Tax | Rs. 72.90 cr | Rs. 51.12 cr | Rs. -2.29 cr |
| Net Worth | Rs. 363.91 cr | Rs. 288.43 cr | Rs. 246.44 cr |
| Other Equity (including retained earnings) | Rs. 309.16 cr | Rs. 240.89 cr | Rs. 188.10 cr |
| Total Borrowing | Rs. 468.62 cr | Rs. 495.24 cr | Rs. 425.52 cr |
The net worth of Jupiter Life Line Hospitals Limited grew from Rs. 246.44 cr in FY 2021 to Rs. 363.91 cr in 2023. In the past three years, Jupiter Life Line Hospitals Limited’s long-term borrowings have remained more or less at the same level, marginally it increased from Rs. 425.52 cr to Rs. 468.62 cr.
During the same period, the total income of Jupiter Life Line Hospitals Limited has grown in the last three years from Rs. 788 cr to Rs. 985 cr.
But the hospital incurred losses in FY 2021 (negative PAT) of Rs. 2.29 crores. Post 2021, the PAT grew from Rs. -2.29 cr to Rs. 72.90 cr during the last 3 years.
Jupiter Life Line Hospitals Limited Peer Comparison
The below table shows a comparison between Jupiter Life Line Hospitals Limited and other listed companies that are engaged in a similar business.
| Company | P/E | EPS | RoNW | NAV | CMP |
| Jupiter Life Line Hospitals Limited | – | 13.95 | 20.03% | 64.39 | NA |
| Apollo Hospitals Enterprise Limited | 84.64 | 56.97 | 16.40% | 378.33 | Rs. 4822 |
| Fortis Healthcare Limited | 40.26 | 7.80 | 20.90% | 46.67 | Rs. 314 |
| Max Healthcare Institute Limited | 45.97 | 11.38 | 62.80% | 24.14 | Rs. 522 |
| Narayana Hrudayalaya Limited | 33.14 | 29.85 | 35.40% | 90.50 | Rs. 989 |
| Global Health Limited | 53.70 | 12.58 | 16.20% | 90.35 | Rs. 675 |
| Krishna Institute of Medical Sciences | 45.09 | 42.03 | 25.70% | 193.96 | Rs. 1895 |
Jupiter Life Line Hospitals Limited Objects of the Issue
Jupiter Life Line Hospitals Limited proposes to utilize the Net Proceeds from the Issue for
1. Repayment of borrowings by the Company and its Subsidiary
As of March 31, 2023, the total borrowing under the various financing options of the hospital and its subsidiary aggregated to Rs. 476.36 crores. Jupiter Life Line Hospital intends to utilize an estimated amount of Rs. 510.40 crores from the Net IPO Proceeds towards full or partial repayment or pre-payment of all or a portion of the principal amount.
90% of the outstanding loan amount of Jupiter Life Line Hospital is with ICICI Bank Ltd and the subsidiary’s outstanding borrowing is with HDFC Bank Limited.
2. For General corporate purposes
The rest of the IPO amount will be spent on general corporate purposes subject to such utilization not exceeding 25% of the Net Proceeds, in compliance with the SEBI ICDR Regulations.
Is Jupiter Life Line Hospitals Limited IPO Worth Investing?
Jupiter Life Line is a multi-specialty hospital in the western region with a total bed capacity of 1,194 hospital beds across three hospitals as of March 31, 2023.
With 15 years of operations, the net worth of Jupiter Life Line Hospitals Limited grew from Rs. 246.44 cr in FY 2021 to Rs. 363.91 cr in 2023. In the past three years, Jupiter Life Line Hospitals Limited’s long-term borrowings have remained more or less at the same level, marginally it increased from Rs. 425.52 cr to Rs. 468.62 cr.
During the same period, the total income of Jupiter Life Line Hospitals Limited has grown in the last three years from Rs. 788 cr to Rs. 985 cr. But the hospital incurred losses in FY 2021 (negative PAT) of Rs. 2.29 crores. Post 2021, the PAT grew from Rs. -2.29 cr to Rs. 72.90 cr during the last 3 years.
It is a multi-specialty tertiary and quaternary healthcare provider with a track record of over 15 years, strong brand recognition and clinical expertise.
They operate on an ‘All-hub-no-spoke’ model with a focus on quality patient care supported by modern infrastructure and technological capabilities.
Key risks to consider are –
- Criminal & Tax litigations fo Rs. 15.57 cr
- Dependent on the hospital in Thane (54% revenues)
- Depend on the skills, efforts, ability and experience of our healthcare professionals
- Operating under strict safety, health, environmental, labour and other governmental regulations
- Incurs high medical equipment cost and manpower costs
- Incurred loss of Rs. 2.29 Cr in Fiscal 2021
