The initial public offering (IPO) of Noida-based hospital chain Yatharth Hospital and Trauma Care Services will open for subscription on July 26.
The IPO will continue for three days and close on July 28.
Offer for sale (OFS) and price band
According to HT’s sister publication Mint, the IPO consists of a fresh issuance of shares worth ₹490 crore, with the hospital chain’s promoters – Vimla, Prem Narayan, and Neena Tyagi – offering to sell up to 65.51 lakh equity shares.
The price band, on the other hand, has been fixed at ₹285 to ₹300 per equity share.
Share reservation category-wise
For Qualified Institutional Buyers (QIBs), a maximum of 50% shares have been reserved, while the corresponding figure for retail investors is 35%. Non Institutional Investors (NIIs), meanwhile, have a maximum of 15% shares reserved for them.
Registrar and lead managers
Link Intime Private Limited has been picked as the registrar for the proposed IPO. There are three book running lead managers associated with the offer: Ambit Private Limited, IIFL Securities Limited, and Intensive Fiscal Services Private Limited.
Why IPO is being raised?
Yatharth Hospital intends to use the net proceeds to repay debt, fund capital expenditure expenses for its hospitals, and fund inorganic growth initiatives through acquisitions and general corporate purposes.
About Yatharth Hospital chain
The multi-care hospital network was founded in 2008, and its facilities are among the top 10 largest medical facilities in the Delhi-NCR (National Capital Region).
It has three super specialty facilities, with one each in Noida, Noida Extension, and Greater Noida
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