Has Robotic And Computer-Assisted Neuro-Rehab Centre
Mumbai-based hospital chain Jupiter Life Line Hospitals has filed its DRHP with capital market regulator SEBI for its initial public offering IPO.
NEW DELHI, May 13 (The CONNECT) – Mumbai-based hospital chain Jupiter Life Line Hospitals has filed its draft red herring prospectus (DRHP) with capital market regulator SEBI for its initial public offering (IPO).
The issue with a face value of Rs 10 per equity share consists of a fresh issue of equity shares worth up to Rs 615 crore and an offer-for-sale (OFS) of up to 4.45 million equity shares by promoter group and other selling shareholders.
The Offer is being made through the Book Building Process, wherein 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers, 15% to Non-Institutional Bidders and 35% for Retail Individual Portion.
The company, in consultation with the lead bankers to the issue, may consider a further issue of specified securities for a cash consideration aggregating up to Rs 123 crore). If such placement is completed, the fresh issue size will be reduced.
As per the DRHP, the proceeds from the issue will be utilized to the extent of Rs. 463.90 crore for repayment/ pre-payment, in full or in part, of borrowings by the company.
Beginning in Thane near Mumbai in 2007 with a single hospital, the brand has been operating for over 15 years as a corporate quaternary care healthcare service provider in the western regions. It currently operates in Thane, Pune and Indore under the Jupiter brand.
It currently in the process of developing a 500-bed multispecialty hospital in Dombivli, Maharashtra across 600,000 sq feet
It follows a patient first ideology and operates on a “all-hub, no-spoke” model with each hospital being a full-service hospital, operating independently, and serving the healthcare needs of patients, right from diagnostics to surgery and rehabilitation across 30 different specialties
Across all its hospital assets it has a very low dependence on central and state government schemes and has an almost equal share between self-payers and those come via insurance companies, third party administrators and corporations.
According to the CRISIL Report published in Jupiter’s DRHP, the Thane and Indore hospitals are amongst the few hospitals in the west to provide neuro rehabilitation services through a dedicated robotic and computer-assisted centre. Additionally, it operates one of the few multi-organ transplant centres in Thane with NABH Safe-I certification and the NABH ‘Nursing Excellence’ accreditation.
Jupiter Life Line Hospitals has turned around from making a loss in FY21 to a profit of Rs 51.13 Cr in FY22, whereas revenue from operations grew 50.80% to Rs 733.12 crore in FY2021-22 from Rs 486.16 crore in FY 2021-22, primarily driven by an increase in both inpatient and outpatient incomes.
For the nine months ended December 31, 2022 revenue from operations stood at Rs 650.24 crore and profit after tax stood at Rs 57.15 crore, whereas EBITDA margin stood at 23.84%.
ICICI Securities Limited, Edelweiss Financial Services Limited, and JM Financial Limited are the book running lead managers and KFin Technologies Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.
