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IPO Update: If you like to invest in Initial Public Offering then there is good news for you. The IPO of Jupiter Life Line Hospitals Limited, a company running a private hospital chain in India, may come soon. The company has submitted draft papers for the IPO with the market regulator Securities Exchange Board of India (SEBI).
What will be the size of the IPO?
According to documents submitted to SEBI, Jupiter Life Line Hospitals will issue fresh shares worth Rs 615 crore through IPO, while old shares worth Rs 4.45 million through Offer For Sale. The shares will be sold by the promoters and stakeholders of the company. Devang Vasantlal Gandhi, Neeta Gandhi will sell their shares through this IPO. Whereas other promoters like Dr. Ajay Thakkar, Dr. Ankit Thakkar and Western Medical Solution LLP will not reduce their stake in the company. According to the report published in Economic Times, the total size of the company’s IPO can be between Rs 900 to 1100 crores.
What will the company do with the IPO money?
The amount collected through this IPO will be used by Jupiter Life Line Hospitals to repay its debt. The company will repay the loan of Rs 463.90 crore. Till December 2022, the company had a total debt of Rs 477 crore. Let us tell you that the shares of the company are listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
Know about Jupiter Life Line Hospitals-
Jupiter Life is one of the important hospital chain in Mumbai and western part. There are a total of 1,194 beds in the check of this hospital, it is a big company in the health care sector. A total of 1,246 doctors, physicians and surgeons work in the company. Hospital chain is present in Thane, Pune and Indore. The company is building a hospital in Dombivli, Mumbai. In the financial year 2023, the company’s total earnings reached Rs 726.19 crore as against Rs 483.43 crore in the previous year. At the same time, the net profit had increased to Rs 51.13 crore. In the year 2022, the company suffered a loss of Rs 2.30 crore.
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