Yatharth Hospital Announces IPO Launch Date of July 26
Yatharth Hospital and Trauma Care Services, a prominent hospital chain based in Noida, has exciting news for investors as it prepares to open its Initial Public Offering (IPO) for subscription on July 26, with the closing date set for July 28.
Ahead of the IPO launch, the anchor book, which forms a part of the qualified institutional buyers’ segment, will commence on July 25, providing an early opportunity for potential investors.
The IPO includes a fresh issuance of shares valued at Rs 490 crore, coupled with an offer for sale of 65.51 lakh equity shares by promoters Vimla Tyagi, Prem Narayan Tyagi, and Neena Tyagi.
To provide context, the company has already secured Rs 120 crore through a private placement (pre-IPO placement) of 40 lakh equity shares at Rs 300 per share. As a result, the fresh issue size has been revised from Rs 610 crore to Rs 490 crore.
While the price band for the IPO is yet to be disclosed, assuming the issue price remains at Rs 300 per share, the total funds raised via the public issue (fresh issue + offer for sale) could amount to Rs 686.55 crore.
Investors will find the allocation of shares quite appealing, with 50% reserved for qualified institutional buyers, 15% for high net-worth individuals, and the remaining 35% for retail investors.
Yatharth Hospital presently operates three super specialty hospitals in Delhi NCR. Notably, it expanded its reach by acquiring a 305-bedded multi-speciality hospital in Orchha, Madhya Pradesh, back in April 2022, elevating its total bed capacity to 1,405 beds.
As of March 2023, the hospital chain boasts an impressive team of 609 doctors.
With regards to the allocation of funds, the company intends to utilize the proceeds from the fresh issue to repay debts, facilitate capital expenditure, pursue inorganic growth initiatives, and address general corporate requirements.
The IPO is being managed by reputable merchant bankers, including Intensive Fiscal Services, Ambit, and IIFL Securities.
Investors and healthcare enthusiasts alike eagerly anticipate the IPO launch, as Yatharth Hospitals seeks to expand its footprint and continue its mission of providing quality medical services to the community.
About Yatharth Hospital and Trauma Care:
In Delhi NCR, Yatharth Hospital operates three cutting-edge super speciality hospitals. Additionally, the hospital made a big step forward in April 2022 when it bought a 305-bed multi-specialty hospital in Orchha, Madhya Pradesh. The total number of beds under its administration has increased to an astounding 1,405 beds as a result of this smart purchase. The hospital network proudly has a group of 609 committed and knowledgeable doctors as of March 2023, further demonstrating its dedication to offering top-notch medical treatment and expertise to its patients.
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