The initial public offering (IPO) of Broach Lifecare has been oversubscribed nearly 80 times by the third day of the bidding process, driven by strong interest from retail investors.
The retail portion of the issue was subscribed over 130 times, followed by the NII category at 27 times. About 50% of the IPO is reserved for retail investors, with the remaining 50% allocated to non-retail investors.
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In the unlisted market, the company’s shares have no GMP.
The company has set a price band of Rs 25 per share for the IPO, which includes a fresh equity sale of 16.08 lakh shares. Through the issue, the company aims to raise approximately Rs 4.02 crore.
Broach Lifecare Hospital Limited operates boutique hospitals under the brand name ‘Maple Hospitals.’ The company provides dedicated 24-hour services to patients with heart ailments, including non-invasive cardiology services such as 2D Echocardiography, Electrocardiography, Treadmill Test, Holter Monitoring, Ambulatory Blood Pressure Measurement, Stress Test, and Dobutamine Stress Echocardiography.
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Fedex Securities is the book-running lead manager for the IPO, while Kfin Technologies is the registrar for the issue.
Meanwhile, the IPO Solve Plastic Products, which also opened for subscription on August 13, was booked 17 times so far. The issue closes today.
The IPO, which is completely a fresh equity sale of 13.02 lakh shares, received bids for 2.25 crore shares.
The price band for the issue is fixed at Rs 91 per share, where investors can bid for 1,200 shares in one lot.
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The GMP of Solve Plastic Products too is Rs 0 in the unlisted market. This indicates a flat listing if the current trends sustain.
Solve Plastic Products Limited manufactures a comprehensive range of uPVC pipes (unplasticized polyvinyl chloride) and Rigid PVC electrical conduits and markets them under the brand name “Balcopipes”
Finshore Management Services is the book-running lead manager for the IPO, while Integrated Registry Management Services is the registrar.
