The Yatharth Hospital and Trauma Care Services Ltd.’s initial public offering (IPO) opens for subscription on July 26 and closes on July 28. For the proposed initial public offering, the company has set the price range at Rs. 285 to Rs. 300 per share of equity.

 

On Tuesday, July 25, Yatharth Hospital’s initial public offering (IPO) raised Rs. 205.96 crores from 18 anchor investors at the higher price band of Rs. 300 per equity share. 

 

Retail Investors Buy Over 50% of Allocation on Day 1

 

The Yatharth Hospital IPO consists of the hospital’s promoters in general Vimla, Prem Narayan, as well as Neena Tyagi, issuing new shares for Rs. 490 crores and selling 65.51 lakh equity shares, according to the latest business news in India.

 

The net proceeds will be used by Yatharth Hospital to settle or advance debt, Pay for capital expenses for the two hospitals owned by the company—Noida Hospital and Greater Noida Hospital—as well as for the hospitals run by its affiliates AKS and Ramraja. Additionally, use general corporate goals and acquisitions to finance inorganic growth initiatives.

 

Equity shares have a face value of Rs. 10 per share. The equity shares’ face value is valued at 28.5 times the floor price and 30.0 times the cap price. The price-to-earnings ratio for the company is 28.25 at the floor price and 29.73 at the cap price. Bids could be submitted in inclinations of 50 shares of equity beginning with a starting point of 50 shares of equity.

 

The current grey market premium (GMP) for the Yatharth Hospital IPO is Rs. 55, according to topsharebrokers.com. This suggests that on Wednesday, Yatharth Hospital stock was selling at a premium of Rs. 55.

 

The estimated listing price for Yatharth Hospital shares is Rs. 355 per share, or 18.33% more than the IPO price of Rs. 300 when taking into account the upper end of the price range for the offering and the current premium on the grey market, as per the latest business news india.

 

Yatharth Hospital’s subscription position shows that the issue has received 33% of its subscriptions as of 12:12 IST on day 1. Retail investors bought over fifty percent of the allocation.