Jupiter Life Line Hospitals IPO allotment today: How to check your application status and latest GMP

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

The Jupiter Life Line Hospital sold its IPO in the price band of Rs 695-735 apiece with a lot size of 20 shares, which was open for bidding between September 6 to September 8. The company aimed to raise a little more than Rs 869-crore from its primary offering, which included a fresh share sale of Rs 542 crore and offer-for-sale (OFS) of 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 the 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.

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.

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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, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Jupiter Life Line Hospitals Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit 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.

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.

The registrar 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 after the issue is completed.

1) Go to the web portal of KFin Technologies Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.

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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