The initial public offering (IPO) of Noida-based Yatharth Hospital will open for subscription today (July 26). The issue will remain open for bidding till July 28, 2023. The issue price of Yatharth Hospital IPO has been fixed at Rs 285 to Rs 300 per equity share. The face value of each equity share is Rs 10. At Rs 300 per share, the upper end of the price band, the hospital chain is looking to raise Rs 686.55 crore. The Noida-based hospital chain filed the Draft Red Herring Prospectus (DRHP) for its book-built offer with the market regulator SEBI on July 18.
Yatharth Hospital IPO price band: The company has fixed the price band of the public issue at Rs 285 to Rs 300 per equity share.
Issue Details and Yatharth Hospital IPO Size:
The maiden public offer includes a fresh issuance of shares amounting to Rs 490 Crore, and an offer for sale (OFS) of 65.61 lakh shares by promoters including Vimla Tyagi, Prem Narayan Tyagi, and Neena Tyagi.
Lot Size
Investors can bid for a minimum of 50 shares and in multiples thereafter. Yatharth Hospital IPO investment limit: A retail investor needs to invest a minimum of Rs 15,000 ( Rs 300 x 50) to apply for the IPO. One lot of Yatharth Hospital IPO will comprise 50 company shares. Investors can buy a maximum of 13 lots for Rs 1.95 lakh.
Yatharth Hospital IPO Share Allotment: The expected date of finalisation of the allotment of shares is August 2 (Wednesday) and the company will start refunds on August 3, while the shares will be credited to the Demat account of allottees on August 4 (Friday). Yatharth Hospital IPO shares are anticipated to be listed on BSE and NSE on August 7.
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According to market observers, ahead of subscription opening, the company's shares are commanding a premium of Rs 75 in the unlisted market.
Financials of the company:
For the quarter ended March 2023, the hospital chain earned Rs 520.29 crore in revenue from operations, up from Rs 228.67 crore in the prior corresponding period. During this period, the company’s cash and cash equivalent stood at Rs 37.43 crore, compared to Rs 5 crore in the year-ago period.