- ABH Healthcare IPO closes August 27, Rs 34.98 crore.
- QIB portion subscribed 8.37 times; GMP remains zero.
- Proceeds for debt, working capital, and inorganic growth.
The initial public offering (IPO) of ABH Healthcare was opened for public subscription on Monday, August 24, and the Rs 34.98 crore SME share sale will conclude on Thursday, August 27. Meanwhile, the Qualified Institutional Buyers (QIBs) portion for the IPO was subscribed 8.37 times, receiving bids for 16,66,800 shares. This way, QIB bids surpassed the issue size---1,99,200 shares were offered under the share sale.
Meanwhile, according to NSE data (till 4:31 PM), non-institutional quota received bids for 2,46,000 shares, while the individual investors category received bids for 9,21,600 shares.
ABH Healthcare IPO GMP
According to Investorgain, the ABH Healthcare shares do not show any premium in the grey market, with GMP for the IPO being Rs 0 today.
ABH Healthcare IPO Details and listing date
- -Multi-speciality healthcare provider ABH Healthcare's Issue Size Rs 34 crore.
- -The IPO will close on August 27
- The company's shares are proposed to be listed on the NSE SME platform Emerge tentatively on September 1.
- The IPO is an entirely fresh issue, and a price band has been fixed at Rs 96-102 per share.
Where Proceeds will be used
ABH Healthcare plans to use the net proceeds of Rs 17 crore to repay some or all of its debt, Rs 5 crore for its working capital needs, and the remainder for inorganic growth through undisclosed acquisitions and general corporate purposes.
"As we enter the next phase of our journey as a listed company, we remain focused on strengthening our clinical capabilities, enhancing patient care and building on the trust that Anil Baghi Hospital has established over the years," Saurabh Baghi, Managing Director at ABH Healthcare Ltd, said.
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What does ABH Healthcare Do?
ABH Healthcare, which launched in 2021, provides healthcare services under the brand name "Anil Bagi Hospital." It operates a 150-bed multi-speciality hospital that offers services in 25 medical specialities.
The hospital has 30 private and public health insurance providers and third-party administrators. Fedex Securities is the sole book-running lead manager for the IPO.
(With Inputs From PTI)