Yatharth Hospital IPO Oversubscribed by Over 3 Times on Second Day: Get Full Details

Yatharth Hospital IPO saw overall positive response from Non Institutional Investors(NIIS) and retail investors followed by Qualified Institutional Buyers (QIBs) on day 2.

Yatharth Hospital IPO’s retail investors portion was subscribed 3.03 times, and NIIs portion was subscribed 5.85 times, QIBs was subscribed 29%.

Yatharth Hospital IPO has received bids for 5,01,04,150 shares against 1,65,17,823 shares on offer, according to data from the BSE.

The retail investors’ portion received bids for 2,79,24,900 shares against 83,10,636 shares on offer for this segment.

The non-institutional investors’ portion received bids for 2,08,37,850 shares against 35,61,701 on offer for this segment.

The QIBs portion received bids for 13,41,400 shares against 46,45,486 on offer for this segment. Employee portion did not see any subscription on both the days.

The company has fixed the price band at ₹285 to ₹300 per equity share for the proposed initial public offer.

Yatharth Hospital IPO: Issue subscribed 1.08 times on day 1; check details

Yatharth Hospital IPO raised ₹205.96 crores from 18 anchor investors at the upper price band of ₹300 per equity share on Tuesday, July 25.

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 are a few prominent anchor investors.

Yatharth Hospital IPO consists of a fresh issuance of shares for ₹490 crore and an offer by the promoters Vimla, Prem Narayan, and Neena Tyagi to sell 65.51 lakh equity shares.

Yatharth Hospital intends to use the net proceeds to pay off or advance debt, Fund capital expenditure expenses for the company’s two hospitals, Noida Hospital and Greater Noida Hospital, as well as for the hospitals run by the company’s subsidiaries AKS and Ramraja. Additionally, fund inorganic growth initiatives through acquisitions and general corporate purposes.

Yatharth Hospital IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors.

According to topsharebrokers.com, Yatharth Hospital IPO grey market premium (GMP) today is ₹50. This indicates that Yatharth Hospital shares were trading at a premium of ₹50 in the grey market on Thursday.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Yatharth Hospital share is ₹350 apiece, which is 16.67% higher than the IPO price of ₹300.

Yatharth Hospital IPO opens: GMP, subscription status, should you subscribe or not?

Updated: 27 Jul 2023, 12:32 PM IST