On day two of bidding on Thursday, The initial public offering (IPO) of multi-speciality hospital chain Jupiter Life Line Hospitals Limited was subscribed 3.30 times.

According to NSE data, The Ipo Received bids for 2,80,31,300 shares against 84,97,169 shares on offer.

6.63 times was subscribed in the portion for non-institutional investors, the quota for Retail Individual Investors (RIIs) was subscribed 3.08 times and 1.12 times subscription received by the category for Qualified Institutional Buyers (QIBs).

A fresh offering of Equity Shares worth Rs 542 crore and an offer to sell up to 44.50 lakh equity shares are both included in the IPO.

The offer is in a price range of Rs 695-735 a share.

Through anchor investors, it has raised Rs 261 crore. Jupiter Life Line Hospitals on Tuesday said.

The fresh issue’s proceeds will be used to pay down debt and for basic corporate needs.

The hospital chain operates in Thane, Pune and Indore under the ‘Jupiter’ brand with a total bed capacity of 1,194 as of December 2022.

It is also in the process of developing a multi-specialty hospital in Dombivli, Maharashtra.

ICICI Securities, Nuvama Wealth Management and JM Financial are the managers to the offer.

The equity shares are proposed to be listed on BSE and NSE.

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