Jupiter Hospital IPO: What GMP signals as all eye set on share allotment date | Mint – Mint

Jupiter Hospital IPO: Bidding for the initial public offering (IPO) closed on 8th December 2023 and in three days of bidding from 6th to 8th September 2023, the book build issue got subscribed 63.72 times. The QIB portion of the public issue received rave response from investors as the issue got subscribed whopping 187.32 times in QIB segment. Now, after closure of suubscription and strong response by investors, bidders are eagerly waiting for Jupiter Hospital IPO allotment date, which is most likely on 13th September 2023 i.e. on Wednesday this week.
Meanwhile, after closure of bidding for Jupiter Hospital IPO, grey market sentiment has gone down despite positive sentiments on Dalal Street. As per the market observers, on first day of the fresh week, shares of Jupiter Life Line Hospitals Limited are available at a premium of 225 per equity share, which is 35 lower from its weekend premium of 260.

Jupiter Hospital IPO GMP today

Market observers said that Jupiter Hospital IPO grey market premium (GMP) today is 225, which is 35 lower from weekend grey market premium of 260. They said that grey market sentiments going down is ashtonishing as the issue received whopping response from investors and secondary market sentiments are also positive. They said that most of the key benchmark indices — Sensex, Nifty and Bank Nifty are close to its life-time high and market may hit a new peak in near term. They said that grey market mood may change after some time if secondary market continues to remain positive.
Market observers went on to add that Jupiter Hospital IPO GMP today is 225, which means grey market is expecting that Jupiter Hospital IPO listing price would be aorund 960 apiece ( 735 + 225), which is around 30 per cent higher from Jupiter Hospital IPO price band of 695 to 735 per equity share. They said that grey market is signaling ahead of Jupiter Hospital IPO allotment date that an allottee can expect around 30 per cent return on one’s money on Jupiter Hospital IPO listing date, which is most likely on 18th September 2023.
However, stock market experts maintained that grey market is not an ideal indicator to assess expected return from an IPO as it is non-regulated and completely speculative in nature. They said that one should stick with their conviction made after scanning the financials of the company because it is concrete and long term fundamentals that won’t change overnight.
Speaking on fundamentals of Jupiter Life Line Hospitals, VLA Ambala SEBI Registered Analyst at Stock Market Today said, “This IPO belongs to the service industry which is huge in demand. The company has been operating for over 15 years as a leading corporate quaternary care healthcare service provider. They have their major presence in Madhya Pradesh and Maharashtra, with an operational bed capacity of 950 beds and 900 beds respectively, as of the date of this “Draft Red Herring Prospectus” and December 31, 2022. Good financial performances compared to its peers and a demanding business.”
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.
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