Yatharth Hospital & Trauma Care Ltd has set a price band of Rs 285-300 per share for its initial share sale, which will open for public subscription on July 26, according to market sources.
The public issue will conclude on July 28 and the bidding for anchor investors will open on July 25, according to the red herring prospectus (RHP).
The IPO comprises a fresh issue of equity shares aggregating up to Rs 490 crore and an offer-for-sale (OFS) of up to 65.51 lakh equity shares by the company's promoters and promoter group entities.
The firm intends to utilize the net proceeds for repayment of debt, funding capital expenditure expenses, funding inorganic growth initiatives through acquisition and other strategic initiatives, and for general corporate purposes.
At the upper end of the price band, the issue is expected to fetch Rs 687 crore and at the lower end Rs 677 crore.
Half of the issue size has been reserved for qualified institutional investors, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.
Earlier this month, Yatharth Hospital, which operates and manages private hospitals in the Delhi-NCR region, raised Rs 120 crore from institutional investors.
Those who participated in the pre-IPO round include Wealth Management LLP, Think India Opportunities Master Fund LP, and Rosy Blue Diamonds Pvt Ltd.
This led to reduction in the fresh issue size to Rs 490 crore, from Rs 610 crore planned earlier.
Intensive Fiscal Services Pvt Ltd, Ambit Pvt Ltd, and IIFL Securities Ltd are the book-running lead managers for the IPO.