Broach Lifecare Hospital makes robust market debut with 90% premium on BSE SME

Incorporated in 2023, Broach Lifecare Hospital operates boutique hospitals with a focus on advanced cardiology services.

Broach Lifecare Hospital Ltd's shares made a positive debut on the BSE SME on August 21, listing at a premium of 90 percent at Rs 47.5 as compared to the issue price of Rs 25.

The Rs 4.02-crore IPO was entirely a fresh issue of 16.08 lakh shares priced at Rs 25 per share. Bidding for the shares commenced on August 13 and concluded on August 16. The allotment was finalised on August 19.

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The IPO was subscribed 159 times overall. The retail category was oversubscribed by 226 times. The minimum investment required by retail investors was Rs 1.5 lakh for 6,000 shares, while High Net Worth Individuals (HNIs) had to invest a minimum of Rs 3 lakh for 12,000 shares. The book-running lead manager for the IPO was Fedex Securities Pvt Ltd, with Kfin Technologies Ltd serving as the registrar.

Incorporated in 2023, Broach Lifecare Hospital operates boutique hospitals with a focus on advanced cardiology services. The company's flagship facility in Bharuch is equipped with 25 ultra-luxury in-patient beds and state-of-the-art diagnostic devices. The hospital is also equipped with critical life-saving equipment, such as intra-aortic balloon pump machines, biphasic defibrillators, and ventilators.

The proceeds from the IPO are earmarked for the purchase of new medical machinery, developing a web portal dedicated to medical tourism, and covering general corporate expenses.

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