Jupiter Life Line Hospitals IPO subscribed 87% on Day 1

The initial public offering (IPO) of Jupiter Life Line Hospitals saw firm response from investors on the first day of the bidding process. The issue was subscribed 87% on Day 1.

According to the stock exchanges data, the non-institutional investors' category was subscribed 1.43 times, while the quota for retail investors was subscribed 1.1 times. The part reserved for qualified institutional buyers was subscribed just 1%.

The IPO which is proposed to be listed on BSE and NSE has received bids for 73,84,800 shares against 84,97,169 shares on offer, as per NSE data.

Further, the IPO has a fresh issue of equity shares worth Rs 542 crore and an offer for sale of up to 44.50 lakh equity shares and price range for the offer is Rs 695-735 per share.

ICICI Securities, Nuvama Wealth Management and JM Financial are the managers to the offer.

Source: Media Reports