Jupiter Life Line Hospitals – a multi-specialty hospital chain based in South India has filed the necessary documents with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The IPO is expected to consist of a fresh issue of equity shares and an offer for sale by the promoter and existing shareholders.
Jupiter Life Line Hospitals IPO Date, Price, Review
According to sources, the IPO is expected to raise around Rs 600 crore to Rs 700 crore ($80 million to $95 million) and will be managed by ICICI Securities, Axis Capital, and Jefferies India.
Jupiter Life Line Hospitals was founded in 2007 and operates eight hospitals and medical centers across South India. The company provides a range of medical services including cardiology, oncology, neurology, gastroenterology and orthopaedics among others.
The IPO is expected to enable Jupiter Life Line Hospitals to expand its operations and infrastructure enhance its medical services and increase its presence in South India. The company is also planning to open new hospitals and medical centers in other parts of the country, including Maharashtra and Gujarat.
Jupiter Life Line Hospitals has reported steady revenue growth in recent years with a revenue of Rs 428 crore ($57.8 million) in the financial year 2020-21. The company’s net profit during the same period was Rs 18 crore ($2.4 million).
The IPO is expected to be well received by investors given the strong demand for healthcare services in India and the company’s established presence in the South Indian healthcare market.