Jupiter Life jumps

Today there was one more fantastic listing; Jupiter Life Line Hospitals - as against the IPO price of Rs.735, the stock got listed at Rs.973, a premium of 32%.

The IPO had got a very good response, subscribing 63.72 times, led mainly by QIBs at 187.32 times, while retail investors was much lower at 7.73 times.

Jupiter Life Line Hospitals is a chain of 3 hospitals in Thane, Pune and Indore, having a total capacity of 1,200 beds and 961 operational beds, under ‘Jupiter’ brand, promoted by Dr. Ajay and Dr. Ankit Thakker. Company’s attrition rate of just 2% for doctors and 28% for nurses in FY23, which is one of the lowest in the industry.

In our IPO Analysis, we had concluded - Long Term prospects looks bright, given sizeable capacity addition in a lucrative geography. Over the Short Term, about 15-20% gains can be expected from the lower pricing vis-à-vis peers. Thus, we recommend applying in Jupiter’s IPO.