Jupiter Life Line Hospitals IPO Basis of Allotment

	This is a public announcement for information purposes only and is not a prospectus announcement and does not constitute an invitation or offer to acquire, purchase or subscribe to securities. Not for release, publication or distribution directly or indirectly, outside India. Initial Public Offer of equity shares on the main board of the Stock Exchanges in compliance with Chapter II of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended ("SEBIICDR Regulations").
JUPITER LIFE LINE HOSPITALS LIMITED
Our Company was incorporated as 'Jupiter Life Line Hospitals Limited' at Mumbai, Maharashtra as a public limited company under the Companies Act. 1956, pursuant to a certificate of incorporation dated November 18.2002, issued by the RoC Our Company commenced its business on December 24, 2002. For further details on the changes m the registered office of our Company, see "History and Certain Corporate Matters" on page 222 of the Prospectus dated September 11, 2023 read along with corrigendum below ( Prospectus').
Corporate Identity Number: U85100MH2002PLC137908; Website: www.jupiterhospital.com
Registered Office: 1004,10th Floor, 360 Degree Business Park, Maharana Pratap Chowk. LBS Marg. Mulund (West), Mumbai - 400 080. Maharashtra. India.
Corporate Office: Jupiter Hospital. Eastern Express Highway. Thane (West), Mumbai-400601 Maharashtra, India.
Contact Person: SumaUpparatti, Company Secretary and Compliance Officer; Telephone: +91 22 2172 5623; Email: cs@jupiterhospital.com

Our Company has filed the Prospectus dated September 11, 2023 with the RoC and SEBl, and the Equity Shares are proposed to be listed on the National Stock Exchange of India Limited ( NSE') and BSE Limited f BSE') and trading is expected to commence on September 18, 2023.

INITIAL PUBLIC OFFERING OF UP TO 11.824,163 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH OF OUR COMPANY ("EQUITY SHARES" ) FOR CASH AT A PRICE OF Rs. 735 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs. 725 PER EQUITY SHARE) ("OFFER PRICE") AGGREGATING TO Rs. 8,690.76 MILUON (THE "OFFER") COMPRISING OF A FRESH ISSUE OF 7,374,163 EQUITY SHARES AGGREGATING TO Rs. 5,420.01 MILLION ("FRESH ISSUE") AND AN OFFER FOR SALE OF TO 4.450,000 EQUITY SHARES ("OFFERED SHARES") AGGREGATING UP TO Rs. 3,270.75 MILLION COMPRISING TO 1,250,000 EQUITY SHARES BY DEVANG VASANTLAL GANDHI (HUF) AGGREGATING TO Rs. 918.75 MILLION. 900,000 EQUITY SHARES BY DEVANG GANDHI JOINTLY WITH NEETA GANDHI AGGREGATING TO Rs. 661.50 MILLION. 1,000,000 EQUITY SHARES BY NITIN THAKKER JOINTLY WITH ASHA THAKKER AGGREGATING TO Rs. Rs. 35.00 MILLION, 400,000 EQUITY SHARES BY ANURADHA RAMESH MODI WITH MEGHA RAMESH MODI (AS TRUSTEES FOR THE BENEFIT OF MODI FAMILY PRIVATE TRUST) AGGREGATING TO Rs. 294.00 MILLION, 400,000 EQUITY SHARES BY BHASKAR P SHAH (HUF) AGGREGATING TO Rs. 294.00 MILLION, 200,000 EQUITY SHARES BY RAJESHWARI CAPITAL MARKET LIMITED AGGREGATING TO Rs. 147.00 MILLION, 200.000 EQUITY SHARES BY VADAPATRASAYEE RAGHAVAN (HUF) AGGREGATING TO Rs. 147.00 MILLION, 40,000 EQUITY SHARES BY SANGEETA RAVAT JOINTLY WITH DR. HASMUKH RAVAT AGGREGATING TO Rs. 29.40 MILLION. 40.000 EQUITY SHARES BY DR. HASMUKH RAVAT JOINTLY WITH SANGEETA RAVAT AGGREGATING TO Rs. 29.40 MILLION AND 20,000 EQUITY SHARES BY SHREYAS RAVAT JOINTLY WITH SANGEETA RAVAT AGGREGATING TO Rs. 14.70MILLION (TOGETHER, THE "SELLING SHAREHOLDERS", AND SUCH OFFER FOR SALE OF EQUITY SHARES BY THE SELLING SHAREHOLDERS, THE "OFFER FOR SALE"). THE OFFER SHALL CONSTITUTE 18.03% OF THE POST-OFFER PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY. OUR COMPANY. IN CONSULTATION WITH THE BOOK RUNNING LEAD MANAGERS, HAS UNDERTAKEN A PRE-IPO PLACEMENT OF 1,673,469 EQUITY SHARES AGGREGATING TO 1,229.99 MILLION. CONSEQUENTLY. THE SIZE OF THE FRESH ISSUE HAS BEEN REDUCED BY Rs. 1,229.99 MILLION PURSUANT TO THE PRE-IPO PLACEMENT AND ACCORDINGLY, THE FRESH ISSUE NOW COMPRISES OF 7,374,163 EQUITY SHARES AGGREGATING TO Rs. 5.420.01 MILLION.

Concentration Risk:

1. Our revenues are significantly dependent on our hospital in Thane. The revenue from operations of our hospital in Thane, Pune and Indore constituted 54.18%, 34.03% and 11.79 respectively of our consolidated revenue from operations for Fiscal 2023. Further, all our hospitals are located in the western regions of India. Any material impact on our revenues from our hospital in Thane or due to concentration in western region of India, including by reason of a reduction in patient footfall, regulatory changes, reputational harm, liabilities on account of medical negligence, adverse publicity or natural calamities and increased competition or any adverse economic or political circumstances, could have a material adverse effect on our business, financial condition and results of operations.

Business Risk:

2. We are highly dependent on our healthcare professionals including doctors and nurses, and any future inability to attract/ retain such professionals will adversely affect our business, financial condition and results of operations. The attrition rate of the doctors, nurses, and other professionals for Fiscal 2023 was 1.85%, 27.97% and 20.58% respectively. There is no assurance that we will be able to retain our doctors or our doctors will continue to provide services to us or devote the whole of their time to our hospitals or that our doctors will not prematurely terminate such agreements, which they may unilaterally terminate by serving a notice of typically one to three months.

3. We incur high expenses in relation to medical equipment cost, manpower cost, infrastructure maintenance and repair costs, ancillary items and pharmaceuticals. The expenses incurred by us towards employee benefits expense, professional fees and purchases of stock-in trade constituted 17.24%, 24.13% and 17.81% of our total income respectively for Fiscal 2023. If we are unable to obtain favourable pricing, discounts and rebates from vendors/suppliers (on account of recurring negotiations in a very competitive environment), it could affect our profitability.

Regulatory / Litigation Risk;

4. Certain public interest litigations have been initiated against our Company in relation to the land on which our Thane Hospital is situated. In the event that any adverse orders are pronounced against us, with respect to such ongoing proceedings, our results of operations, business and financial condition may be adversely impacted.

5. Our industry is highly regulated and requires us to obtain, renew and maintain statutory and regulatory permits, accreditations, licenses and comply with applicable safety, health, environmental, labour and other governmental regulations. Any failure to renew the approvals that have expired or apply for and obtain the required approvals, licenses, registrations or permits, or any suspension or revocation of any of the approvals, licenses, registrations and permits that have been or may be issued to us, may impede our operations and may have an adverse effect on our business, financial condition and results of operations.

6. There have been certain instances of lapse such as factual or typographical errors and certain discrepancies in certain allotment related forms and the corresponding secretarial records filed by us during the period 2004-2009. While we have taken corrective steps in this regard, such as filing of updated Form PAS-3's, we cannot assure you that no regulatory action will be initiated against us in this regard and that no penalties will be imposed on us on account of these lapses. The actual amount of the penalty which may be imposed or loss which may be suffered by us cannot be ascertained at this stage and shall depend on the nature and scope of the potential action which may be initiated against us.

7. The Weighted Average Cost of acquisition of all Equity Shares transacted in last three years, 18 months and one year preceding the date of the RHP:

As certified by As win P. Malde & Co., Chartered Accountants pursuant to their certificate dated August 30,2023.

9. Average cost of acquisition of Equity Shares for the Promoters namely, Dr. Ajay Thakker is Rs. 31.15, Dr. Ankit Thakker is Rs. 60.29 and Western Medical Solutions LLP is Rs. 7.71 and Offer Price at upper end of the Price Band is Rs. 735 per Equity Share.

10. The Price/Earnings ratio based on diluted EPS for fiscal 2023 for our Company at upper end of the price band is 56.76 times and Price/Earnings ratio of the average industry peer group as on the date of the RHP is 50.47 times.

11. Weighted Average Return on Net Worth for Fiscals 2023,2022 and 2021 is 15.77%.

12. Our market capitalisation at tho lower end and higher end of price band to total income for fiscal 2023 is 5.08 times and 5.34 times respectively.

13. The three BRLMs associated with the Offer have handled 83 public issues in the past three Fiscal Years, out of which 27 issue closed below the Offer price on the listing date.

* Issues handled where there were no common BRLMs

The Offer has been made in terms of Rule 19(2)(b) of the SCRR through the Book Building Process in accordance with Regulation 6(1) of the SEBIICDR Regulations wherein not more than 50% of the Offer was available for allocation to QIBs on a proportionate basis, provided that our Company and the Selling Shareholders in consultation with the BRLMs have allocated up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations, of which one-third was reserved for domestic Mutual Funds, subject to valid Bids having been received from them at or above the Anchor Investor Allocation Price. Further, in the event of under-subscription. or non-allocation in the Anchor Investor Portion, the balance Equity Shares were added to the Net QIB Portion. 5% of the Net QIB Portion was available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the Net QIB Portion was available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, not less than 15% of the Offer was available for allocation to Non-institutional Bidders and not less than 35% of the Offer was available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. The Equity Shares available for allocation to Non- institutional Bidders under the Non-institutional Portion, was subject to the following: (i) one-third of the portion available to Non-institutional Bidders was reserved for Bidders with an application size of more than Rs.200,000 and up to Rs.1,000.000, and (ii) two-third of the portion available to Non institutional Bidders was reserved for Bidders with application size of more than Rs.1,000.000. provided that the unsubscribed portion in either of the aforementioned sub-categories may be allocated to Bidders in the other subcategory of Non-institutional Bidders. Subject to valid Bids being received at or above the Offer Price, under-subscnption, if any, in any category except in the QIB Portion, was allowed to be met with spill over from any other category or combination of categories on proportionate basis, at the discretion of our Company and the Selling Shareholders in consultation with the BRLMs and the Designated Stock Exchange subject to applicable laws. For further details, see "Offer Procedure"on page 370 of the Prospectus.

The bidding for Anchor Investor opened and closed on September 5.2023. The Company received 39 applications from 25 Anchor Investors for 3,863.900 Equity Shares. The Anchor Investor Offer Price was finalized at Rs. 735 per Equity Share. A total of 3,547,247 Equity Shares were allocated under the Anchor Investor Portion aggregating to 72,607,226,545.

The Offer received 39 applications for 3863900 equity shares against 3,547,247 Equity Shares available for allocation to Anchor Investors resulting in 1.09 times subscription as disclosed m the Prospectus. The details of the applications received in the Offer from Retail Individual Bidders, Non-lnstitutional Bidders and QIBs are as under (before technical rejections):

Final Demand

A summary of the final demand as per BSE and NSE as on the Bid/Offer Casing Date at different Bid process is as under

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being NSE on September 13, 2023.

A. Allotment to Retail Individual Bidders (After Technical Rejections) (including ASBA Applications)

The Basis of Allotment to the Retail Individual Bidders, who have bid at cut-off or at the Offer Price of Rs. 735 per Equity, was finalized in consultation with NSE. This category has been subscribed to the extent of 7.66441 times. The total number of Equity Shares Allotted in Retail Individual Bidders category is 4,138,458 Equity Shares to 206,922 successful applicants. The category-wise details of the Basis of Allotment are as under

Please Note 1 additional Share shall be allotted to 18 Allottees from amongst 13652 Successful Applicants from the categories 40-260 (l.e.excluding successful applicants from Category 20) in the ratio of 9:6826

B. Allotment to Non-institutional Bidders (more than Rs. 2 lakhs and upto Rs. 10 lakhs) (After Technical Rejections) (including ASBA Applications)

The Basis of Allotment to the Non-institutional Bidders (more than Rs.2 lakhs and upto Rs. 10 lakhs), who have bid at the Offer Pnce ofRs. 735 per Equity Share or above, was finalized in consultation with NSE. This category has been subscribed to the extent of 26.35806. The total number of Equity Shares allotted in this category is 591,209 Equity Shares to 2,111 successful applicants. The category-wise details of the Basis of Allotment are as under:

Please Note: 1 additional Share shall be allotted to all 129 Successful Allottees from the Categories 300-1360 (i.e. excluding successful applicants from Category 280) in the ratio of 1:1

C. Allotment to Non-institutional Bidders (more than Rs. 10 lakhs) (After Technical Rejections) (including ASBA Applications)

The Basis of Allotment to the Non-institutional Bidders (more than Rs. 10 lakhs), who have bid at the Offer Price of Rs. 735 per Equity Share or above, was finalized in consultation with NSE, This category has been subscribed to the extent of 40,36611 times. The total number of Equity Shares allotted in this category is 1,182,416 Equity Shares to 4,222 successful applicants. The category-wise details of the Basis of Allotment are as under:

Please Note: 1 additional Share shall be allotted to 256 Allottees from amongst 4222 Successful Applicants from all the categories in the ratio of 2:33

D. Allotment to QIBs (After Technical Rejections)

Allotment to QIBs. who have bid at the Offer Price of Rs. 735 per Equity Share or above, has been done on a proportionate basis in consultation with NSE. This category has been subscribed to the extent of 187.67375 times of Net QI8 portion As per the SEBI Regulations. Mutual Funds were allotted 5% of the Equity Shares of Net QIB portion available i.e. 118,242 Equity Shares and other QIBs were allotted the remaining available Equity Shares i.e. 2,246.591 Equity Shares on a proportionate basis. The total number of Equity Shares allotted in the QIB category is 2.364.833 Equity Shares, which were allotted to 173 successful Applicants

E. Allotment to Anchor Investors (After Technical Rejections

The Company, the Investor Selling Shareholders m consultation with the BRLM. have allocated 3,547,247 Equity Shares to 25 Anchor Investors (through 39 Anchor Investor Application Forms) (including domestic 12 Mutual Funds through 26 schemes) at an Anchor Investor Offer Price at Rs. 735 per Equity Share in accordance with SEBI ICDR Regulations. This represents 60% of the QIB portion.

The Board of Directors of our Company at its meeting held on September 13.2023 has taken on record the basis of allotment of Equity Shares approved by the Designated Stock Exchange, being NSE and has allotted the Equity Shares to various successful applicants. The Allotment Advice Cum Refund Intimation anchor notices have been dispatched to the address of the investors as registered with the depositories. Further, instructions to the SCSBs have been issued for unblocking of funds and transfer to the Public Offer Account on September 13,2023 and the payments to non-syndicate brokers have been issued on September 14,2023. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below. The Equity Shares allotted to the successful allottees have been uploaded on September 14. 2023 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company will file the Listing application with NSE and BSE on September 15.2023.

Note. All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.

INVESTORS PLEASE NOTE

These details of the Allotment made shall be hosted on the website of Registrar to the Offer, KFin Technologies Limited at www.kfintech.com

All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the First/ Sole applicant. Serial number of the Bid cum Application form number. Bidders DP ID. Client ID. PAN. date of submission of Bid cum Application Form, address of the Bidder, number of Equity Shares bid for name of the Member of the Syndicate, place where the bid was submitted and payment details at the address given below.

	KFin Technologies Limited
Setenium Tower B. Plot No. 31 & 32. Gachibowli Financial District. Nanakramguda. Serilingampalty, Hyderabad- 500 032 Telangana, India
Telephone: +91 40 6716 2222.Email: jupiterlife.ipo@kfintech.com; Investor grievance email: einward.ris@kfintech.com Website: www.kfintech.com:
Contact person: M Murali Krishna; SEBI registration no: INR000000221

CORRIGENDUM-NOTICE TO INVESTORS

Attention of investors is drawn to the disclosure of the number of Equity Shares available for allocation to Mutual Funds appearing on page 7 (definition of Mutual Fund Portion), page 65 (5% of the Net QIB Portion) and page 367 (Basis of Allotment I allocation if respective category is oversubscribed) of the Prospectus. At such pages the number of Equity Shares should be read as 1,18,242 Equity Shares instead of 1.182.416 Equity Shares.

Further, the attention of investors is also drawn to the amount disclosed at Securities Premium Account after the Offer on page 82 of the Prospectus which should be read as 76,967.00 million instead of 75,346.27 million.

The Prospectus shall be read in conjunction with this Corrigendum (the "Corrigendum"). The information in this Corrigendum supersedes the information provided in the Prospectus to the extent inconsistent with the information in the Prospectus. The Prospectus stands amended to the extent stated here in above.

JUPITER LIFE LINE HOSPITALS LIMITED has filed the Prospectus dated September 11, 2023 with RoC and SEBI. The Prospectus is available on the website of SEBI at www.sebi.gov.in, websites of the Stock Exchanges i.e., BSE at www.bseindia.com and NSE at www.nseindia.com and is available on the websites of the BRLMs. i.e. ICICI Securities Limited at www.icicisecurities.com, Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) at www.nuvama.com and JM Financial Limited at www.jmfi.com. Potential investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, please see the section titled 'Risk Factors' of the Prospectus. Potential investors shook! not rely on the DRHP filed with SEBI for making any investment decision instead shall rely on Red Herring Prospectus. Specific attention of the investors is invited to "Risk Factors" beginning on page 29 of the Red Herring Prospectus

The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or any other applicable law of the United States and, unless so registered, may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Accordingly, the Equity Shares are only being offered and sold (i) within the United States only to persons reasonably believed to be qualified institutional buyers" (as defined in Rule 144A under the Securities Act. "Rule 144 A") in transaction not subject to. the registration requirements of the Securities Act. and (ii) outside the United States in offshore transactions in compliance with Regulation S under the Securities Act and pursuant to the applicable laws of the jurisdictions where those offers and sates are made There will be no public offering of the Equity Shares in the United States.