Jupiter Life Line Hospitals IPO allotment: Check your application status & latest GMP

Jupiter Life Line Hospitals is set to announce the basis of allotment of its shares on Wednesday, September 13. The primary offering of the multi-specialty tertiary and quaternary healthcare provider had received a strong response from the investors, particularly the institutional bidders, during the three-day bidding process.

The IPO of Jupiter Life Line Hospital was open between September 6 to September 8. The company sold in the range of Rs 695-735 apiece with a lot size of 20 shares to mop-up a little more than Rs 869-crore from its initial public offering, including a fresh share sale of Rs 542 crore and offer-for-sale (OFS) of Rs 327 crore.

The issue was overall subscribed 64.80 times as the portion for qualified institutional bidders (QIBs) was booked 181.89 times, while the non-institutional investors' category was subscribed 36 times. The quota reserved for retail investors was subscribed only 8 times during the three-day bidding process.

Grey market premium (GMP) of Jupiter Life Line Hospital has seen some correction since the closure of bidding process. Last heard, the company was commanding a premium of Rs 240-245 per share, suggesting a listing pop of 33-35 per cent for the investors. However, it was around Rs 255-260 on Friday.

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Jupiter Life Line Hospitals is among multi-specialty tertiary and quaternary healthcare providers in the Mumbai Metropolitan Area and western region of India with a total bed capacity of 1,194 hospital beds across three hospitals as of March 31. Jupiter Life Line Hospitals currently operates three hospitals in Thane, Pune and Indore under the 'Jupiter' brand.

Brokerage firms were mostly positive on the stock and suggested a bid for the issue amid the advantage of regional dominance, operational efficiency, Jupiter Hospital has demonstrated good financial performances among peers. However, they also flagged dependence on Thane hospital, change in government policies, and delay in upcoming projects may dent its prospects.

ICICI Securities, Nuvama Wealth Management and JM Financial are the lead managers to the issue, while Kfin Technologies India has been appointed as the registrar to the issue. Shares of the company will be listed on both BSE and NSE.

Investors, who had bid for the issue and have not checked their application status, can check the allotment status on the Bombay Stock Exchange (BSE) website, which is https://www.bseindia.com/investors/appli_check.aspx. They can check Equity as issue type and select the company name to proceed. One needs to only add application numbers and the PAN card ID before checking 'I am not a Robot' and hitting submit.

Investors can also check the allotment status on the online portal of Kfin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue. Select the company name from all options, if the allotment is finalized.  Fill either application number, demat Account number, or PAN ID and the captcha accurately, before hitting submit.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

Bidders who could not get allotment in the IPO may see the initialization of refunds on Thursday, September 14. Others, who would be allotted shares may see the credit of shares, in the Demat accounts by Friday, September 15. The listing of the IPO is likely on Monday, September 18.

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