Nuvama Investment Banking is a proud banker to Jupiter Hospitals in its continued journey to healthcare excellence.

Deal Details:

  • Jupiter Hospitals successfully completed a Pre-IPO placement to marquee long only Investors at the IPO Price
  • The IPO received an overwhelming response from investors to emerge as:
    • Highest subscribed Hospitals IPO
    • Amongst the Top 3 highest subscribed IPOs in the past 2 years
  • IPO saw a stellar listing with stock price closing at 46% premium to issue price#


  • Effectively positioned Jupiter Hospitals as a key Multi Specialty hospital chain in Western India with a distinguished business model and a ‘patient first’ ideology
  • Nuvama garnered participation from a diverse investor set including Global Sovereign Funds, LO Flls, Mutual Funds, Insurance Companies
  • Pushed the story aggressively through our distribution channel to garner strong interest in HNI & Retail category resulting in overall 13 lakh+ applications


  • Jupiter Lite Line Hospitals Ltd Is a key tertiary and quaternary healthcare chain in the Mumbai Metropolitan Area (MMR) and western region of India with a total bed capacity of 1,194 hospital beds across three hospitals as of March 31, 2023@.

Book Running Lead Manager to the IPO of Tarsons Products Limited


IPO Size ₹ 10,235 mn
IPO Structure (Primary / OFS) 15% / 85%
Post Issue Dilution 29.07%
IPO Price ₹ 662
Subscription (QIB* / HNI / Retail) 115.5x / 183.2x / 8.9x
Total number of applications# 1,912,663


  • ADIA
  • Birla MF
  • Government of Singapore
  • ICIC Prudential MF
  • Mirae MF
  • Nippon MF
  • Stewart Investors


  • Highest subscribed Healthcare IPO (Ex Pharma)^
  • Healthy subscription with more than 19 Lacs applications
    • 100% of anchor book was allocated to LO Investors
  • We provided end-to-end client handholding and guidance on various deal contours and timing

*Excluding Anchor
# Before technical rejections
^IPOs since 2010 considered

Book Running Lead Manager to the IPO of Vijaya Diagnostic Centre Limited

Deal Highlights:

Largest Diagnostic Company IPO in India
  • Largest Diagnostic IPO^ in India
  • Participation by all category of investors – LO FIIs, Sovereign Wealth Fund, Mutual Funds, Life Insurance Companies and Family Office
  • Launched within 12 weeks since DRHP Filing
~2.4 lacs
Applications Received
Allocation to long only investors in Anchor Book~16%
Listing day premium

Our Contribution:

  • Ensured early participation from high quality Long Only FIIs, MFs, Insurance Companies and marquee Indian Family Office in the issue to give confidence for launch of deal
Share of the Anchor portion in 3 Bank Syndicate
Highest number of investors converted in anchor
#1 Procurer
38%# share of the overall Retail and HNI portion
  • Procured 100% and ~90% of QIB subscription on Day-1 and Day-2 respectively
  • Provided end-to-end client handholding and guidance on various deal contours and timing

^ In terms of issue size; #Under Finalization