Jupiter Life stock lists with 32 percent premium on NSE
Jupiter Life stock listed on NSE on Monday with 32 percent premium on the issue price. The stock listed on the exchange at Rs 973 per share. The stock markets were trading flat on Monday morning as global cues were muted.
Jupiter Life grey market premium was nearly Rs 233. The IPO was priced between Rs 695-735 and received positive feedback from market experts.
Jupiter Life Line Hospitals IPO was oversubscribed by 63 times and there was strong investor interest in both retail and institutional segments.
The company aims to repay its debt of Rs 464 crore from the proceeds of IPO. Ankit Thakker, CEO, Jupiter Hospitals had earlier informed, "We are going to pay down all the debt from the proceeds. So, the entire interest portion and the outflow for the principal repayment will be free cash in our hands."
The IPO has listed strong and we can expect the company to report a strong quarter. For medium to long term investors, this counter can offer a good entry point once the price settles at lower levels.