Jupiter Life Line Hospitals, a prominent multispecialty Hospital chain in India, has successfully raised Rs 261 crore through its Anchor Book just ahead of its initial public offering (IPO) launch. This significant pre-IPO fundraising indicates strong investor confidence in the company’s prospects.

A total of 39 investors participated in the anchor book, showcasing a diverse mix of domestic and international players. Notable names among them include the Government of Singapore, Abu Dhabi Investment Authority, Fidelity Funds, Goldman Sachs, Nomura Funds, HSBC Global, Florida Retirement System, and Natixis International Funds. This international interest reflects the global appeal of Jupiter Life Line Hospitals.

Domestic investors also demonstrated their faith in the company, with prominent institutions like SBI Mutual Fund, ICICI Prudential, Nippon Life, HDFC Mutual Fund, Axis Mutual Fund, Aditya Birla Sun Life Trustee, UTI Mutual Fund, Motilal Oswal MF, HDFC Life Insurance, and SBI Life Insurance Company participating in the anchor book.

The allocation of 35,47,247 equity shares to anchor investors was set at Rs 735 per equity share, including a share premium of Rs 725 per equity share. Notably, 47.70 percent of this allocation went to 12 domestic mutual funds through a total of 26 schemes, highlighting the strong interest from domestic institutional investors.

The IPO of Jupiter Life Line Hospitals is set to open for subscription on September 6 and close on September 8. The company plans to sell its shares in the price range of Rs 695-735 per share, with a minimum bid of 20 shares per lot. The IPO comprises a fresh issue of equity shares worth Rs 542 crore and an offer for sale (OFS) of 44.5 lakh equity shares by promoter group entities and other shareholders.

The funds raised from the fresh issue will primarily be utilized to retire debt and for general corporate purposes. ICICI Securities, Edelweiss Financial Services, and JM Financial are acting as the book-running lead managers for the IPO, while KFin Technologies is the registrar.

Overall, the successful anchor book raising, diverse investor participation, and strong interest from both domestic and international investors bode well for Jupiter Life Line Hospitals as it embarks on its IPO journey, positioning itself for potential growth and expansion in the healthcare sector.

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