Jupiter Lifeline Hospitals Lists on Bourses with a Premium

Jupiter Lifeline Hospitals Lists on Bourses with a Premium

VoM News Desk | September 18, 2023 | 09:05 AM IST | Breaking News | Follow on Google News

Jupiter Lifeline Hospitals Lists on Bourses with a Premium

Jupiter Lifeline Hospitals Ltd made a stellar debut on the stock exchanges as its shares were listed at a premium on Monday. The listing on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) showed strong investor interest in the company.

Impressive Listing Prices

On the NSE, Jupiter Lifeline’s share price opened at ₹973 per share, reflecting a remarkable premium of 32.38% over the issue price of ₹735. Simultaneously, on the BSE, the listing price was ₹960 per share, showcasing a significant premium.

Successful IPO Subscription

Jupiter Lifeline Hospital’s IPO had garnered substantial attention during its subscription period. It opened for subscription on September 6 and closed on September 8. By the end of the third day, the IPO was oversubscribed by 63.72 times. The strong response from investors was evident throughout the subscription period.

IPO Details

The Jupiter Lifeline Hospitals IPO consisted of a fresh issue of 73.74 lakh shares, amounting to ₹542 crore, and an offer for sale (OFS) portion comprising 44.5 lakh shares with a face value of ₹10 each, totaling ₹869.08 crore. The OFS was by the promoter selling shareholders, Devang Vasantlal Gandhi and Neeta Gandhi. The total issue size was ₹869.08 crores.

The net proceeds from the fresh issue will be used to repay debt availed from banks by the company and its material subsidiary, as well as to meet general corporate purposes.

Grey Market Premium

Before its listing, Jupiter Lifeline Hospitals shares were trading with a premium in the grey market. The Grey Market Premium (GMP) was reported at +233, consistent with the previous three trading sessions. This indicated that Jupiter Lifeline Hospitals shares were trading at a premium of ₹233 in the grey market.

Considering the upper end of the IPO price band and the current grey market premium, the estimated listing price of Jupiter Lifeline Hospitals shares was ₹968 per share. This marked a 31.7% increase over the IPO price of ₹735.

The successful listing of Jupiter Lifeline Hospitals reflects the strong investor confidence and demand for healthcare-related stocks in the Indian market

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.