Yatharth Hospital IPO closes today: GMP, subscription status, should you apply or not?
₹285 to ₹300 per equity share for the proposed initial public offer. 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. The face value of equity shares is ₹10 each. The floor price is 28.5 times and the cap price is 30.0 times the face value of the equity shares.
The company's price to earnings ratio at the floor price is 28.25 and at cap price is 29.73. Bids can be made for a minimum of 50 equity shares and in multiples of 50 equity shares thereafter. For the quarter ended March, Yatharth Hospital's profit after taxes stood at ₹65.77 crore, while revenue for Q4FY23 was ₹523.10 crore.
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