Yatharth Hospital and Trauma Care Services IPO subscribed 1.08 times

Published on Jul 26, 2023 17:24

The initial public offer (IPO) of Yatharth Hospital and Trauma Care Services received bids for 1,78,39,350 shares as against 1,65,17,823 shares on offer, according to stock exchange data at 17:00 IST on Wednesday (26 July 2023). The issue was subscribed 1.08 times.

The issue opened for bidding on Wednesday (26 July 2023) and it will close on Friday (28 July 2023). The price band of the IPO is fixed at Rs 285-300 per share. An investor can bid for a minimum of 50 equity shares and in multiples thereof.

The IPO comprises of fresh issue of equity shares worth up to Rs 490 crore and an offer for sale (OFS) of 6,551,690 shares by existing shareholders.

The bank proposes to utilize Rs 245 crore for repayment/ prepayment of certain borrowings, Rs 132.6 crore for funding capital expenditure expenses, Rs 65 crore for Funding inorganic growth and balance amount for general corporate purposes.

The promoter and promoter group holds an aggregate of 91.34% of the pre-offer issued and paid-up equity share capital. The post IPO shareholding for the same is expected to be around 66.33%.

Ahead of the IPO, Yatharth Hospital and Trauma Care Services on Tuesday, 25 July 2023 raised Rs 205.96 crore from anchor investors. The board allotted 68.65 lakh shares at Rs 300 each to 18 anchor investors.

Yatharth Hospital and Trauma Care Services is a multi-care hospital chain. It operates three super specialty hospitals located in Delhi NCR, at Noida, Greater Noida and Noida Extension, Uttar Pradesh. As of 31 March 2023, the company engaged 609 doctors and offers healthcare services across several specialties and super specialties.

The bank reported a net profit of Rs 65.77 crore and net sales of Rs 520.29 crore for the twelve months ended on 31 March 2023.