Yatharth Hospital IPO Day 1: Subscribed 36% – Details Here

EMS IPO: 23x subscription on day 3, retail segment 22.6x booked

Yatharth Hospital IPO Day 1: Subscription Reaches 36% – All You Need to Know

Yatharth Hospital witnessed a subscription of 36% on the first day of its IPO. The subscription for Yatharth Hospital IPO commenced on Wednesday, 26 July, and is scheduled to close on Friday, 28 July.

The IPO received a positive response from retail investors and Non-Institutional Investors (NIIs) on the opening day, while the Qualified Institutional Buyers (QIBs) and employees’ portions are yet to see any subscriptions.

Yatharth Hospital IPO Subscription Details:

  • Retail Investors’ Subscription: 55%
  • Non-Institutional Investors’ Subscription: 40%
  • Total Bids Received: 60,15,100 shares out of 1,65,17,823 shares offered (as of 12:30 IST, according to BSE data).
  • Retail Investors’ Bids: 46,03,150 shares out of 83,10,636 shares offered.
  • Non-Institutional Investors’ Bids: 14,11,250 shares out of 35,61,701 shares offered.

The IPO price band is set at ₹285 to ₹300 per equity share for the proposed offering. Ahead of the IPO launch, Yatharth Hospital raised ₹205.96 crores from 18 anchor investors at the upper price band of ₹300 per equity share on Tuesday, July 25. Among the prominent anchor investors were SBI Life Insurance Company, Goldman Sachs (Singapore), Kotak Mahindra Life Insurance Company, ICICI Prudential Mutual Fund, Max Life Insurance Company, HDFC MF, and BNP Paribas Arbitrage.

Utilization of Proceeds:

The net proceeds from the IPO will be utilized by Yatharth Hospital for the following purposes:

  1. Paying off or advancing debt.
  2. Funding capital expenditure for the company’s hospitals, including Noida Hospital and Greater Noida Hospital, as well as for hospitals run by its subsidiaries AKS and Ramraja.
  3. Supporting inorganic growth initiatives through acquisitions.
  4. Meeting general corporate purposes.

Allocation Breakdown:

The IPO has reserved a maximum of 50% of the shares for Qualified Institutional Buyers (QIBs), a minimum of 15% for Non-Institutional Investors (NIIs), and a minimum of 35% for Retail Investors.

Yatharth Hospital IPO GMP Update:

According to topsharebrokers.com, the grey market premium (GMP) for Yatharth Hospital IPO stands at ₹55 today. This implies that Yatharth Hospital shares are currently trading at a premium of ₹55 in the grey market as of Wednesday.

Yatharth Hospital IPO Estimated Listing Price:

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price for Yatharth Hospital shares is ₹355 apiece. This indicates an 18.33% increase from the IPO price of ₹300.

About Yatharth Hospital:

Established in 2008, Yatharth Hospital and Trauma Care Services Limited is a prominent network of multi-care hospitals. It proudly holds a place among the top 10 largest private hospitals in Delhi’s National Capital Region. At present, Yatharth Hospital manages three super specialty hospitals in the Delhi NCR area, strategically located in Noida, Greater Noida, and Noida Extension, Uttar Pradesh, collectively offering a capacity of 1,100 beds. Notably, the Noida Extension Hospital stands as one of the most sizable healthcare facilities in the region, accommodating 450 beds.

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