Broach Lifecare Hospital shares list at 90% premium over IPO price
Broach Lifecare Hospital listed on the BSE SME platform with a 90% premium on Wednesday. The stock debuted at Rs 47.5, compared to an issue price of Rs 25 per share.
Ahead of the listing, the company’s shares had no gray market premium (GMP). The IPO, which was a fresh equity sale of 16.08 lakh shares, was oversubscribed by over 100 times at closing, driven by strong interest from retail investors.
The net proceeds from the IPO will be used for purchasing machines, developing a medical tourism web portal, and other general corporate purposes.
The company operates boutique hospitals under the brand “Maple Hospitals” and provides round-the-clock services for heart ailments. These include non-invasive cardiology services such as 2D echocardiography, electrocardiography, treadmill tests, Holter monitoring, ambulatory blood pressure measurement, stress tests, and dobutamine stress echocardiography.
In 2023, the company expanded into interventional cardiac services, including coronary angiography and stenting, percutaneous coronary intervention (PCI), and primary PCI for acute myocardial infarction.
It also offers a range of diagnostic and therapeutic options, such as endovascular revascularisation, deep vein thrombosis treatment, and peripheral angioplasty.
Healthcare has become one of India’s largest sectors in terms of revenue and employment. It encompasses hospitals, medical devices, clinical trials, outsourcing, telemedicine, medical tourism, health insurance, and medical equipment.
For FY24, the company
