Jupiter Hospital IPO to open for subscription on Sep 6
The IPO comprises 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.
Earlier this month, Jupiter Hospital mobilised Rs 123 crore from institutional investors in the pre-IPO round and accordingly the fresh issue size was reduced.
Proceeds of the fresh issue will be utilised to retire debt. Besides, funds will be used for general corporate purposes.
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.
Jupiter Hospital, which has a strategic focus on the western India healthcare market, is in the process of developing a multispecialty hospital in Dombivli, Maharashtra, which is being designed to accommodate over 500 beds.
ICICI Securities, Edelweiss Financial Services, and JM Financial are the book-running lead managers to the issue.
