Sangani Hospitals, a prominent multi-specialty healthcare services provider based in Gujarat, has launched its initial public offering (IPO) for public subscription on August 4.
The IPO is classified as an SME IPO and will be listed on NSE Emerge, a platform dedicated to small and medium enterprises (SMEs). Investors can subscribe to the IPO until August 8.
Sangani Hospitals IPO GMP:
As of today, Sangani Hospitals IPO GMP stands at ₹1, according to topsharebrokers.com. This indicates that the shares of Sangani Hospitals are trading at a premium of ₹1 in the grey market.
Based on the GMP and the upper end of the price band, it is anticipated that Sangani Hospitals shares may be listed at ₹41 per share.
Sangani Hospitals IPO Subscription Status:
On the first day of the IPO, Sangani Hospitals received a subscription of 0.05 times. By 10:25 a.m., the public issue has garnered bids for 1.71 lakh shares, compared to the 37.92 lakh equity shares on offer.
As of now, the retail category is subscribed 0.10 times, and the Non-Institutional Investors’ (NII) category is subscribed 0.01 times. Qualified Institutional Buyers (QIB) are yet to participate with their bids.
Important Dates for Sangani Hospitals IPO:
The subscription for Sangani Hospitals IPO commenced on August 4 (Friday) and will conclude on August 8 (Tuesday). The allotment of shares is expected to be finalized on August 11, and refunds will begin on August 14. Eligible shareholders can expect to receive their Sangani Hospitals shares in their demat accounts on August 16.
Sangani Hospitals IPO Price Band:
The shares are being offered in the IPO at a price band ranging from ₹37 to ₹40 per share.
IPO Issue Size:
Sangani Hospitals IPO consists of a fresh issue of 37.92 lakh equity shares, each having a face value of ₹10. The total size of the IPO, at the upper end of the price band, amounts to ₹15.17 crore.
IPO Lot Size:
Investors will need to subscribe to a lot size of 3,000 shares for Sangani Hospitals IPO. This means that the minimum investment required for retail investors is ₹120,000.
Objective of Sangani Hospitals IPO:
The company intends to utilize the funds raised from the IPO to finance the capital expenditure for expanding Sangani Hospital in Keshod and Sangani Super Speciality Hospital in Veraval, Gujarat. Additionally, the proceeds will be used for general corporate purposes.
IPO Reservation:
Sangani Hospitals has reserved 45% of the net issue for Non-Institutional Investors (NII), with another 45% allocated to retail investors. Qualified Institutional Investors (QIB) are offered 10% of the net issue.
Promoters of Sangani Hospitals:
The promoters of Sangani Hospitals are Dr. Ajaykumar Sangani, Dr. Rajeshkumar Sangani, Kamalkumar Sangani, and Dr. Vaishali Sangani.
Expected Listing Date of Sangani Hospitals IPO:
Sangani Hospitals IPO is projected to be listed on August 17 and will be available for trading on NSE Emerge.
About Sangani Hospitals:
Sangani Hospitals Limited, a healthcare organization founded in 2001, commenced its journey with the establishment of Sangani Hospital in Keshod. Operating in the Gujarat regions of Keshod and Veraval, Sangani Hospitals is a prominent multi-specialty healthcare provider. The driving forces behind the organization are Dr. Ajaykumar Natwarlal Sangani, MBBS, DLO & MS(E.N.T.), and his brother Dr. Rajeshkumar Natwarlal Sangani, MBBS & MD, who together boast nearly two decades of medical expertise.
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