The Yatharth Hospital and Trauma Care Services IPO comprises a fresh issue of equity shares accumulating up to Rs 490 crore.
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Noida-based hospital chain Yatharth Hospital and Trauma Care Services is all set for its initial public offering (IPO) on Wednesday, July 26. The company has set a price band in the range between Rs 285 and Rs 300 per piece. The primary issue will close for subscription on Friday, July 28. The IPO comprises a fresh issue of equity shares accumulating up to Rs 490 crore.
The offer for sale (OFS) of the hospital chain is up to 65.51 lakh equity shares by its promoters Vimla Tyagi, Prem Narayan Tygai and Neena Tyagi and promoter group entities.
Earlier, it was reported that the company will issue a fresh size of Rs 610 crore which was reduced to Rs 490 crore. This happened because the company has already raised Rs 120 crore via private placement (pre-IPO placement) for 40 lakh equity shares at a price of Rs 300 per share.
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The price band for the offer is expected to be announced soon by the firm but is reported to be above the issue price at Rs 300 for each share. 50 per cent of the issue size has been kept for qualified investors, while 35 per cent is for retail investors and the remaining 15 per cent is for non-institutional investors.
With IPO, the firm is planning to utilise the net proceeds for repayment of the debt, funding capital expenditure expenses, inorganic growth initiatives through acquisitions and other strategic initiatives along with general corporate purposes.
Yatharth Hospital serves three super speciality hospitals in the Delhi-NCR region. Apart from these, the firm in April, last year acquired a 305-bedded multi-speciality hospital at Orchha in Madhya Pradesh. With this acquisition, its total bed capacity has increased from 1,100 to 1,405. Till March 2023, the hospital chain has 609 doctors under its facilities.
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Ambit Intensive Fiscal Services and IIFL Securities are the merchant bankers for the Yatharth IPO issue.
