Strong debut | Jupiter Life Line Hospitals lists at 32% premium to IPO price

The Rs 869-crore IPO of the hospital chain was subscribed 63.72 times, backed by qualified institutional buyers who bought 187.32 times the allotted quota

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26 Aug, 2025 12:21

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Shares of Jupiter Life Line Hospitals made their debut on the bourses on September 18 at 32 percent premium to the issue price. The stock listed on the NSE at Rs 973 and on the BSE at Rs 960, while its IPO price was Rs 735.

According to analysts, robust subscription numbers, strong brand recall, increasing optimism on the healthcare sector, and an overall bullish sentiment in the equity markets were the reasons behind the double-digit gains.

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The Rs 869-crore initial public offering of the hospital chain was subscribed 63.72 times, backed by qualified institutional buyers who bought 187.32 times the allotted quota. Retail investors put in bids for 7.73 times the portion set aside for them.

As many as 39 investors had made an investment in the company via anchor book including marquee names like Government of Singapore, Abu Dhabi Investment Authority, Fidelity Funds, Goldman Sachs, Nomura Funds, HSBC Global, Florida Retirement System, and Natixis International Funds.

The Mumbai-based company will use the net fresh issue proceeds mainly for repaying debt worth Rs 510.4 crore, and the rest for general corporate purposes. Its total borrowings stood at Rs 476.4 crore as of March FY23.

Jupiter Hospitals It operates three hospitals in the Mumbai Metropolitan Area (MMR) and western region of India with a total capacity of 1,194 beds.

Its average occupancy rate improved to 62.61 percent at the end of March FY23, against 53.96 percent in the previous year, while average revenue per occupied bed (APROB) stood at Rs 50,990 in FY23, increasing from Rs 48,711 in FY22.

Net profit in the year FY23 stood at Rs 72.9 crore increasing by 42.6 percent compared to the previous year, with revenue from operations growing by 21.7 percent to Rs 892.5 crore and EBITDA (earnings before interest, tax, depreciation and amortisation) rising 31.2 percent to Rs 201.3 crore during the same period.