- By Vaamanaa Sethi
- Fri, 21 Jul 2023 04:47 PM (IST)
- Source:JND
Noida-based hospital chain Yatharth Hospital and Trauma Care Services is all set to make its debut on Dalal Street on July 26. The healthcare service provider is looking to raise Rs 676.7 crore at a lower price band and Rs 686.55 crore at an upper price band via public issue.
The Anchor Investor Bidding date shall be Tuesday, July 25, 2023. The offer will open on Wednesday, July 26, 2023 for subscription and will close on Friday, July 28, 2023.
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The initial public offering comprises a fresh issue of equity shares aggregating up to ₹4,900 million and an offer for sale up to 6,551,690 equity shares by selling shareholders including Vimla Tyagi, Prem Narayan Tyagi and Neena Tyagi.
The offer for sale comprises up to 3,743,000 equity shares of Vimla Tyagi, 2,021,200 equity shares of Prem Narayan Tyagi and 787,490 equity shares of Neena Tyagi.
The hospital has fixed the price band of the offer at ₹285 to ₹ 300 per equity share. Bids can be made for a minimum of 50 equity shares and in multiples of 50 equity shares thereafter.
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The hospital chain operator has reserved half of the issue size for qualified institutional buyers (QIB), 15 percent for high-networth individuals (HNIs) and the remaining 35 percent for retail investors.
The company will utilise the funds for repaying debts, capital expenditure for hospitals, and funding inorganic growth initiatives, besides general corporate purposes.
Currently, the company operates three super-speciality hospitals located in Delhi NCR and one multi-speciality hospital in Madhya Pradesh.