Jupiter Life Line Hospitals IPO Fully Subscribed On Second Day GMP Up By More Than 30 Per Cent

Indian stock market is performing well these days. Recently, the domestic stock market has created a new lifetime high. Its advantage is also being found in the IPO market. Recently, many IPOs that came in the market have performed well. The IPO of Jupiter Life Line Hospitals is also going on the same lines.

1 day left for IPO to close

The IPO of Jupiter Life Line Hospitals was fully subscribed on the second day itself on Thursday. This IPO opened for subscription in the market on Wednesday, 6 September. For this, bidding can be done till Friday, 8 September. However, even after one day left, this IPO has received manifold subscriptions in all categories.

Got so many subscriptions so far

This IPO was subscribed 87 percent on the first day itself. After that, on the second day of bidding on Thursday, as soon as the market opened, this IPO was completely filled in no time. After the end of two days, it has been subscribed 3.30 times. It has received good response from retail investors, non-institutional investors and qualified institutional buyers across all categories.

Great response in every category

The retail portion of the Jupiter Life Line Hospitals IPO was subscribed 3.08 times after the second day’s trading ended on Thursday. At the same time, 6.63 times subscription was received in the category of non-institutional investors and 1.12 times in the category of qualified institutional buyers.

The size of the IPO is so big

This IPO includes fresh issue of 73.74 lakh shares. With this the company can get Rs 542 crore. At the same time, there is also an offer for sale of 44.5 lakh shares in this IPO. Promoters like Devang Vasantlal Gandhi and Neeta Gandhi are selling their stake in the IPO through OFS. The total size of this IPO is Rs 869.08 crore.

This is the premium in the gray market

The company has raised Rs 261 crore from anchor investors before the IPO. Talking about its GMP, Jupiter Life Line’s share is currently trading in the gray market with a premium of Rs 225 i.e. more than 30 per cent. The issue price band of this IPO is Rs 695-735. If seen in this way, according to GMP, its shares can be listed in the market around Rs.960.

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