Sangani Hospitals, a multi-specialty healthcare services provider based in Gujarat, launched its Initial Public Offering (IPO) on August 4. The IPO will remain open for subscription till August 8.
The shares of the company are expected to get listed on the NSE SME on August 17. The price band of the IPO has been set at Rs 37-40 per share.
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The IPO comprises a fresh issue of 37.92 lakh equity shares of Rs 10 face value, indicating that the price of the IPO at the upper end of the price band is Rs 15.17 crore.
The lot size of the IPO is 3,000 shares, with a minimum investment for retail investors at Rs 1,20,000.
The company has reserved 45 per cent of the net issue for Non-Institutional Investors (NII), while another 45 per cent is allocated for retail investors. Qualified Institutional Investors (QIB) are offered 10 per cent of the net issue.
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The IPO proceeds will be channeled towards expanding Sangani Hospital at Keshod and Sangani Super Speciality Hospital at Veraval, both located in Gujarat. Additionally, the funds will be utilized for general corporate purposes.
It may be noted that the promoters of Sangani Hospitals are Dr. Ajaykumar Sangani, Dr. Rajeshkumar Sangani, Kamalkumar Sangani, and Dr. Vaishali Sangani.
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As of today, the grey market premium stood at Re 1, indicating that the IPO will list at Rs 41 at the upper price band.
Bigshare Services Pvt Ltd is serving as the IPO registrar, while Unistone Capital Pvt Ltd is leading the IPO.
