The public issue of Noida-based Yatharth Hospital and Trauma Care Services recorded 108 percent subscription, garnering bids for 1.78 crore equity shares against an offer size of 1.65 crore shares on the first day of bidding on July 26.
Retail investors were at the forefront on debut, buying 1.25 times the reserved portion, while the part set aside for high networth individuals was booked 1.77 times.
Qualified institutional buyers also started putting in bids on the first day, subscribing for 11.86 lakh equity shares against an allotted quota of 46.45 lakh equity shares.
The company has reserved half of its offer size for qualified institutional buyers, 15 percent for high networth individuals and the remaining 35 percent for retail investors. The offer will close on July 28.
The hospital chain operator mopped up Rs 206 crore from the anchor book, a part of qualified institutional buyers portion and, accordingly, the offer size has been reduced by Rs 205.96 crore to Rs 480.59 crore from earlier Rs 686.55 crore.
Also read: Yatharth Hospital IPO opens, analysts upbeat: Should you bid?
HSBC Global Investment Funds, Troo Capital, Carnelian Capital, BNP Paribas Arbitrage, SBI Life Insurance, ICICI Prudential, HDFC Mutual Fund, Aditya Birla Sun Life Trustee, Goldman Sachs, and Jupiter India Fund were among the investors who participated in the anchor round.
The offer comprises a fresh issue of Rs 490 crore by the company and an offer-for-sale of 65.51 lakh equity shares by promoters Vimla Tyagi, Prem Narayan Tyagi and Neena Tyagi. The price band for the offer is set at Rs 285-300 per share.
The company will use the net fresh issue proceeds mainly in repaying debts, capital expenditure for hospitals, and funding inorganic growth initiatives.
Also read: Yatharth Hospitals IPO: Wait for a more differentiated business model to emerge
Yatharth Hospital, which operates three super specialty hospitals in Delhi NCR and one multi-speciality hospital in Madhya Pradesh, has a total capacity of 1,405 beds, engaging 609 doctors.
The basis of the allotment of IPO shares will be finalised by August 2 and trading in equity shares will start on August 7, as per the IPO schedule.
The IPO shares traded with 20 percent premium in the grey market, analysts said on anonymity. The grey market is an unofficial market where the IPO shares can be bought and sold till the listing on the bourses.
Also read: Yatharth Hospital IPO opens: 10 things to know before you buy it
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
