Jupiter Hospitals to make stock market debut on Monday, GMP spikes 34%

Jupiter Life Line Hospitals IPO listing: Jupiter Life Line Hospitals shares will make stock market debut on Monday, September 18. The stock is set to handsomely reward investors as the stock was trading approximately 34 per cent higher from Initial Public Offering price of Rs 735. The stock was commanding Grey Market Premium (GMP) of Rs 250, market observers said.

GMP refers to the premium or additional price at which IPO shares are traded unofficially before their listing on stock exchanges.

Market observers said that GMP for Jupiter Hospitals shares rose from Rs 230 per share on Friday to Rs 250 per share on Saturday.

Jupiter Life Line Hospitals IPO was subscribed 64.80 times with all categories of investors getting oversubscribed. Qualified institutional buyers (QIBs) participated in large numbers as portion set aside for them was subscribed 181.89 times, shares set aside for non-institutional investors (NIIs) was booked 36 times and pie set aside for retail investors was booked 8 times.

Jupiter Life Line Hospitals raised Rs 869 crore from the IPO which comprised of fresh issue of Rs 542 crore and an offer for sale (OFS) worth Rs 327 crore. The company sold shares in price band of Rs 695-735 per share.

The company had reserved 29.80 per cent shares for anchor investors, 20.53 per cent shares were set aside for QIBs, 14.90 per cent shares were reserved for NIIs and 34.77 per cent for retail investors.

A retail investor was allowed to bid for minimum one lot of 20 shares up to maximum of 13 lots. One lot of Jupiter Life Line Hospitals was priced at Rs 14,700 at the upper end of the price band.