August 22, 2023 / 01:37 PM IST
Multi-area of abilities medical institution chain Jupiter Lifestyles Line Hospitals has mobilised Rs 123 crore from institutional investors within the pre-IPO (preliminary public offering) round. Along with to, the company has received capital markets regulator Sebi's poke-ahead to carry funds through its IPO.
It received Sebi's observation letter on August 11, an update with the regulator confirmed on Tuesday.
The company issued 16.7 lakh shares at a mark of Rs 735 apiece, in conserving with a public announcement.
Merchants participated within the pre-IPO round consist of SBI Magnum Kid's Earnings Fund, SBI Optimum Fairness Fund, SBI Healthcare Alternatives Fund, Neuberger Berman Emerging Markets Fairness Fund, Neuberger Berman Europe Holdings LLC and Neuberger Berman Strategic India Fairness Grasp Fund Holdings Ltd.
Along with to, High Conviction Fund - Sequence 1, Ashoka India Fairness Funding Have confidence PLC, Contemplate India Alternatives Grasp Fund LP and DC Ikka Ltd too participated. In Might maybe maybe maybe even, Jupiter filed its preliminary papers with the market regulator Sebi to carry funds through an IPO.
The dispute includes a new dispute of equity shares price up to Rs 615 crore and a proposal-for-sale (OFS) of up to 44.5 lakh equity shares by promoter team and other promoting shareholders. With the completion of the pre-IPO placement, the new dispute dimension will now be decreased.
Proceeds from the maiden public dispute can be utilised for fee of debt and original corporate capabilities.
The medical institution chain operates in Thane, Pune and Indore below the Jupiter brand with a total bed skill of 1,194 as of December 2022.
Jupiter Hospitals, which has a strategic take care of the Western India healthcare market, is within the strategy of developing a multispecialty medical institution in Dombivli, Maharashtra, being designed to accommodate over 500 beds.
After making a loss within the monetary year 2020-21, the company reported a profit of Rs 51.13 crore in 2021-22.
Its revenue from operations jumped 51 per cent to Rs 733.12 crore in FY22 from Rs 486.16 crore in FY21.
For the 9 months ended December 31, 2022, the company's profit after tax became Rs 57.15 crore, while revenue from operations stood at Rs 650.24 crore.