Sangani Hospitals IPO subscribed 4.54 times on last day of issue, QIBs bid highest; check GMP and other details
Sangani Hospitals IPO: The initial public offering (IPO) of Sangani Hospitals was subscribed 4.54 times on the third and last day of its issue, according to subscription data on the stock exchanges. The Gujarat-based multi-specialty healthcare services provider's IPO opened for subscription on August 4 and closed on August 8. Sangani Hospitals IPO is an SME IPO that will list on NSE Emerge, a platform for small and medium enterprises (SME).
On Tuesday, qualified institutional buyers or QIB showed overwhelming interest as the portion reserved for them was subscribed 11.42 times - the highest among the three groups of investors. The portion set aside for the retail individual investors (RII) was subscribed 6.17 times, while the portion reserved for the non-institutional individual investors was subscribed 1.38 times. The company had reserved 45 per cent of the net issue for the NIIs offering 16,20,000 shares, and another 45 per cent of shares for retail investors offering the same number of shares.
QIBs were offered 10 per cent of the net issue at 3,60,000 shares. Sangani Hospitals IPO comprised a fresh issue of 37.92 lakh equity shares of face value of ₹10 each. The company sold shares in the IPO at a price band of ₹37 to ₹40 per share.
At the upper end of the price band, Sangani Hospitals IPO size is worth ₹15.17 crore. The IPO lot size is 3,000 shares. The minimum investment amount required for retail investors was ₹120,000.
The IPO listing is expected to take place on August 17. Sangani Hospitals shares will be listed on NSE Emerge. The basis of share allotment is expected to be fixed on August 11 and the company will begin refunds on August 14.
Read more on livemint.com
