The IPO of Jupiter Lifestyles Line Hospitals, a healthcare services supplier headquartered in Mumbai, marks the 2d public offering available for subscription this month, following Ratnaveer Precision Engineering.
Listed below are 10 key issues to hang sooner than subscribing to the plot back:
1) IPO Date
The maiden public plot back opened for bidding on September 6, with the deadline situation for September 8, 2023.
2) Stamp Band
The offer label band has been mounted at Rs 695 to Rs 735 per section.
3) Fund Raising
The preliminary public offering by the company comprises a original issuance of shares price Rs 542 crore, and an offer-for-sale (OFS) of 44.5 lakh shares by 10 promoting shareholders including promoter team names Devang Vasantlal Gandhi (HUF), and Devang Gandhi jointly with Neeta Gandhi.
Click Right here To Read All IPO Files
The multi-distinctiveness tertiary and quaternary healthcare supplier is planning to steal Rs 869.08 crore through public plot back at the upper label band.
The scale of the original plot back has been reduced by Rs 123 crore to Rs 542 crore after the company issued 16.73 lakh equity shares through deepest placement sooner than launching the public offer, to 10 investors including SBI Magnum Teenagers’s Again Fund - Funding Conception, Neuberger Berman Emerging Markets Equity Fund, Ashoka India Equity Funding Trust Plc, State India Opportunities Grasp Fund LP, and DC Ikka.
The firm has already raised Rs 260.72 crore from anchor investors on September 5, a day sooner than the plot back opening. Marquee investors participated within the anchor book had been Abu Dhabi Funding Authority, Executive of Singapore, Goldman Sachs, Constancy Funds, HSBC Global, Nomura Funds, SBI Mutual Fund, ICICI Prudential, HDFC Mutual Fund, HDFC Lifestyles Insurance, and SBI Lifestyles Insurance Company.
4) Targets of Self-discipline
The corporate is going to utilise earn original plot back proceeds mainly for debt good buy price Rs 510.4 crore, and the closing for frequent corporate applications.
The full borrowings of the company and cloth subsidiary stood at Rs 476.4 crore as of March FY23.
General corporate applications included funding growth opportunities, strengthening marketing capabilities, and dealing capital requirements.
5) Lot Dimension
Merchants can recount for a minimum of 20 equity shares and in multiples of 20 shares thereafter. The minimum software dimension for retail investors involves Rs 14,700 per lot (20 shares) and the utmost investment is Rs 1,91,100 for 260 shares as they'll now not exceed their investment restrict of Rs 2 lakh within the IPO, whereas excessive earn-price folks with investment restrict of Rs 2 to 10 lakh can make investments a minimum of Rs 2,05,800 for 280 shares and their maximum software dimension is Rs 9,ninety 9,600 for 1,360 shares.
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Half of the offer dimension is reserved for qualified institutional traders. The closing 15 p.c is for excessive-networth folks (non-institutional investors) and 35 p.c for retail investors.
6) Company Profile
The firm that operators hospitals below the Jupiter impress claimed to be amongst the main multi-distinctiveness tertiary and quaternary healthcare suppliers within the Mumbai Metropolitan Dwelling (MMR) and western space of India with a complete bed capability of 1,194 health center beds at some level of three hospitals as of March 2023.
It at the 2d operates three hospitals in Thane, Pune and Indore, with 1,306 doctors including consultants, physicians and surgeons, as of March 2023. It's miles additionally within the technique of creating a multi-distinctiveness health center in Dombivli, Maharashtra, which is designed to accommodate over 500 beds and has commenced building in April 2023.
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The frequent occupancy price has improved within the previous years to 62.61 p.c at the tip of March FY23, in opposition to fifty three.96 p.c within the outdated twelve months, whereas life like income per occupied bed (APROB) stood at Rs 50,990 in FY23, growing from Rs forty eight,711 in FY22.
Operationally, its in-patient and out-patient volumes additionally remained sturdy, rising at a CAGR of bigger than 30 p.c in FY21-FY23.
7) Monetary Efficiency
Ajay Thakker, Ankit Thakker and Western Clinical Choices LLP-promoted company delight in grew to change into profitable within the fiscal 2022. Profit within the twelve months FY23 at Rs 72.9 crore elevated by 42.6 p.c compared to the outdated twelve months, with income from operations rising by 21.7 p.c to Rs 892.5 crore and EBITDA (earnings sooner than interest, tax, depreciation and amortisation) rising 31.2 p.c to Rs 201.3 crore at some level of the identical duration.
The EBITDA margin expanded by 163 bps on-twelve months to 22.55 p.c within the fiscal twelve months 2023 and the earn profit margin improved extra to 8.07 p.c from 6.94 p.c at some level of the identical duration.
Thane health center contributed 54 p.c to the topline in FY23 and 34 p.c contribution by Pune health center, and the closing 11.Seventy 9 p.c by Indore health center.
Return on equity and return on capital employed, too, remained sturdy within the previous years, rising to twenty.03 p.c and 20.94 p.c in FY23, from 17.73 p.c and 16.08 p.c within the outdated twelve months.
With a market capitalisation of Rs 4,819 crore at the upper label band, Jupiter Hospitals compares itself with listed entities admire Apollo Hospitals Endeavor, Fortis Healthcare, Narayana Hrudayalaya, Global Health, Krishna Institute of Clinical Sciences, and Max Healthcare Institute.
It's miles supplied at a P/E (label-to-earnings) of 52.7x and EV/EBITDA of 22.1x on the FY23 foundation.
8) Promoters and Management
Promoters at the 2d support 49.Seventy 9 p.c shareholding in Jupiter Sanatorium and the leisure is held by public shareholders including JM Monetary and Persepolis Funding Company.
Ajay Thakker is the Chairman and Managing Director on the board, whereas Ankit Thakker is the Executive Director and Chief Executive Officer of the company.
Vadapatra Raghavan is the Non-Executive Director, whereas Darshan Vora, Jasmin Patel, Satish Utekar, and Urmi Popat are the autonomous administrators.
As well, Suma Upparatti is the Company Secretary and Compliance Officer of the company, whereas Harshad Purani is the Chief Monetary Officer as neatly because the president – administration and head of corporate social accountability.
9) Threat Factors
a) Its revenues are vastly dependent on the health center in Thane. Additional, all hospitals could presumably presumably be found within the western regions of India. Any affect on the revenues of Thane health center or any replace within the economic or political circumstances of Western India or in particular in or round Thane, can also materially have an effect on the enterprise.
b) It's miles extremely dependent on the healthcare mavens including doctors and nurses, and any future inability to entice/ preserve such mavens will adversely have an effect on the enterprise.
c) The healthcare enterprise is extremely regulated and requires Jupiter Sanatorium to make, renew and support statutory and regulatory permits, accreditations, and licenses and phrase appropriate security, health, environmental, labour and more than a few governmental rules.
d) It incurs excessive charges in the case of medical instruments price, manpower price, infrastructure maintenance and restore costs, ancillary items and prescription tablets. If Jupiter is unable to make favourable pricing from suppliers or negotiate compensation for our healthcare mavens effectively, it will also have an effect on profitability.
10) List Date
Jupiter Sanatorium will finalise the premise of the half of IPO shares by September 13 and the equity shares shall be credited to the demat accounts of eligible investors by September 15. The refunds shall be credited to monetary institution accounts of unsuccessful investors by September 14.
Its equity shares will debut on the BSE and NSE on September 18, as per the IPO agenda.
IPO shares had been available at a top price of 29 p.c within the grey market, over the upper label band of Rs 735 per section, analysts mentioned on anonymity. In overall, the grey market, an unofficial platform for trading in IPO shares till the checklist, is believed of as by investors to envision the that you just could presumably presumably also imagine checklist label.
ICICI Securities, Nuvama Wealth Management, and JM Monetary are the book-working lead managers to the plot back. KFin Technologies is the registrar.
