Jupiter Life Line Hospitals IPO:
Private hospital network Jupiter Life Line Hospitals Ltd. has just submitted preliminary documents to the Securities Exchange Board of India for an initial public offering (IPO) to generate capital. A new issuance of Rs 615 crore and an offer for sale (OFS) of up to 4.45 million shares by current shareholders and promoters will make up the IPO.
The OFS will include the sale of up to 1.25 million shares by Devang Vasantlal Gandhi (HUF), up to 9 lakh shares by Devang Gandhi jointly with Neeta Gandhi, up to 1 million shares by Nitin Thakker jointly with Asha Thakker, and up to 4 lakh shares each by Anuradha Ramesh Modi with Megha Ramesh Modi and Bhaskar P Shah (HUF).
Jupiter Life intends to use the proceeds from the issue, worth Rs 463.90 crore, for debt repayment, as the company’s total debt stood at Rs 477 crore as of December. The lead managers for the issue are ICICI Securities Ltd, Edelweiss Financial Services, and JM Financial.
Jupiter Life has established itself as a top provider of multi-specialty tertiary and quaternary healthcare in the Mumbai Metropolitan Area (MMR) and western India, with a total bed capacity of 1,194 across three hospitals. As of December 2022, the hospital chain employs 1,246 skilled doctors, including specialists, physicians, and surgeons. The hospitals operate under the renowned “Jupiter” brand and are located in Thane, Pune, and Indore.
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The company is also currently working on developing a state-of-the-art multi-specialty hospital in Dombivli, Maharashtra. This upcoming facility is designed to have over 500 beds, showcasing Jupiter Life’s dedication to expanding their healthcare services. Construction for the hospital commenced in April 2023, marking a significant milestone in the company’s ongoing efforts to provide advanced medical care to the region.
For the fiscal year 2023, Jupiter Life’s revenue was Rs 726.19 crore, an increase from Rs 483.43 crore the previous year. The net profit for the year was Rs 51.13 crore, compared to a loss of Rs 2.30 crore the previous year.
About Jupiter Life Line Hospitals:
Jupiter Life Line Hospitals Limited specializes in providing a range of healthcare services, including but not limited to anesthesia, birthing, blood bank services, heart and lung transplant, cardiac care, cerebral palsy clinic, cosmetic surgery, gynecology and obstetrics, gastroenterology, and general medicine.
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