Yatharth Hospital IPO to open on this date: Key things you need to know

Yatharth Hospital IPO Details: Yatharth Hospital & Trauma Care has announced that its initial public offer (IPO) will open for subscription next week. The IPO will comprise fresh issuance worth Rs 490 crore and an offer for sale (OFS) of 6,551,690 shares. The Noida-based hospital chain will utilise fresh issue proceeds for repaying debts.

Yatharth Hospital IPO Details: Subscription start date

The IPO of Yatharth Hospital & Trauma Care will be open for subscription on July 26.

Yatharth Hospital IPO Details: Subscription end date

The IPO of Yatharth Hospital & Trauma Care will be open for subscription for three days. The closing date for the offer has been fixed at July 28.

Yatharth Hospital IPO Details: Face value

The face value of equity shares is Rs 10 each.

Yatharth Hospital IPO Details: Allotment date

According to reports, the allotment of shares is expected to happen on August 2. 

Earlier, Yatharth Hospital & Trauma Care said that it raised Rs 120 crore from institutional investors in a pre-IPO placement round, leading to a reduction in the fresh issue size in the upcoming initial share sale.

"Our company, in consultation with the book running lead managers, has undertaken a pre-IPO placement of 40 lakh equity shares for cash for Rs 300 per equity share aggregating to Rs 1,200 million (pre-IPO placement)," Yatharth Hospital said in a public notice.

In the pre-IPO placement round, the company allotted 20 lakh equity shares amounting to Rs 60 crore to Plutus Wealth Management LLP and 10 lakh equity shares worth Rs 30 crore to Think India Opportunities Master Fund LP.

In addition, shares to the tune of Rs 13 crore have been allotted to Rosy Blue Diamonds Pvt Ltd, and shares worth Rs 10 crore and Rs 7 crore allocated to Vikas Vijaykumar Khemani and Viraj Russell Mehta respectively.

The firm intends to utilize the net proceeds for repayment or prepayment in full or part of certain borrowings availed by the company and its subsidiaries, and for funding capital expenditure expenses, among others.

The proceeds will also be used for funding inorganic growth initiatives through acquisition and other strategic initiatives, and for general corporate purposes. Intensive Fiscal Services Pvt Ltd, Ambit Pvt Ltd, and IIFL Securities Ltd are the book-running lead managers for the IPO.

With agency inputs