Yatharth Hospital IPO subscribed 3.03 times on second day of subscription

Yatharth Hospital IPO: The Initial Public Offering (IPO) of Yatharth Hospital and Trauma Care Services was subscribed 3.03 times on the second day of the subscription on Thursday. The Rs 686.55 crore-initial share sale received bids for 5,01,04,150 shares as against 1,65,17,823 shares on offer, according to the BSE data.

The category for non-institutional investors was subscribed 5.85 times while the quota for retail individual investors got 3.36 times subscription. The portion meant for Qualified Institutional Buyers was subscribed 29 per cent.

The IPO has a fresh issue aggregating up to Rs 490 crore and an offer for sale of up to 65,51,690 equity shares. The price band for the share sale is Rs 285-300 apiece.

Yatharth Hospital & Trauma Care has collected Rs 206 crore from anchor investors.

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The company intends to utilise the net proceeds for repayment of debt, funding capital expenditure expenses, funding inorganic growth initiatives through acquisition and other strategic initiatives and for general corporate purposes.

Earlier this month, Yatharth Hospital, which operates and manages private hospitals in and around the national capital (Delhi-NCR), raised Rs 120 crore from institutional investors in the pre-IPO round. This led to a reduction in the fresh issue size to Rs 490 crore from Rs 610 crore planned earlier.

Intensive Fiscal Services, Ambit Pvt Ltd and IIFL Securities are the managers to the offer.

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