The initial public offering (IPO) of Noida-based Yatharth Hospital and Trauma Care Services Limited will open for subscription on 26 July. The three-day IPO is a combination of a fresh issue and an offer for sale (OFS).
The hospital chain filed the Draft Red Herring Prospectus (DRHP) for its book built offer with the Securities and Exchange Board of India (SEBI) on 18 July.
Yatharth Hospital's IPO Dates
The public offer will open for bidding on 26 July and the closing date will be 28 July. Anchor Book will open on 25 July, one day before the issue opening. The final allotment is likely to take place on 2 August. The refunds for non-allottees are likely to start on 3 August. The Yatharth Hospital shares are expected to list on the stock exchanges on 7 August.
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Price Band
Yatharth Hospital and Trauma Care Services has fixed a price band of Rs 285-300 per share for the IPO. The face value of each equity share is Rs 10.
Yatharth Hospital IPO Size
The company is looking to raise Rs 686.55 crore at an upper price band through a public issue. The issue comprises a fresh issuance of shares worth Rs 490 crore and an offer for sale (OFS) of 65.51 lakh equity shares by promoters Vimla Tyagi, Prem Narayan Tyagi, and Neena Tyagi.
The actual fresh issue size was Rs 610 crore, which was later lowered to Rs 490 crore as the company raised Rs 120 crore through a private placement (pre-IPO placement) of 40 lakh shares at a price of Rs 300 per share on 6 July, before filing the DRHP with the Registrar of Companies.
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Lot Size
Investors can bid for a minimum of 50 equity shares and in multiples thereafter. Retail investors can invest a minimum of Rs 15,000 for a single lot at the upper price band. They can buy a maximum of 13 lots for Rs 1.95 lakh.
Reservation
Yatharth Hospital has reserved half of the issue size for qualified institutional buyers (QIBs), 15 per cent for high-net-worth individuals (HNIs), and the rest of the 35 per cent is earmarked for retail investors.
Registrar And Book-Running Lead Managers
Link Inktime India Private Limited is the registrar to the IPO. IIFL Securities, Ambit Private Limited, and Intensive Fiscal Services Private Limited are the book-running lead managers.
Grey Market Premium (GMP)
According to several websites that track grey market activities, Yatharth Hospital public issue's grey market premium (GMP) today is in the range of Rs 70-100.
The hospital chain operator proposes to utilise fresh issue proceeds for fund repayments, capital expenditure for hospitals, and financing inorganic growth initiatives through acquisitions and other strategic initiatives, besides general corporate purposes.
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Yatharth Hospital and Trauma Care Services currently operates three super-speciality hospitals located in Delhi-NCR and one multi-speciality hospital in Madhya Pradesh, with a total capacity of 1,405 beds. Its hospitals rank among the top 10 private hospitals in the Delhi-NCR region. The company has engaged the services of more than 600 doctors.
