The capital markets regulator, SEBI, has given Yatharth Hospital & Trauma Care Services Ltd the green light to launch an Initial Public Offering (IPO). Yatharth Hospital's IPO consists of a fresh issue of equity shares totaling up to Rs610 crore and an Offer For Sale (OFS) of up to 65.51 lakh equity shares by the company's promoters and promoter group businesses (source: DRHP).
According to a SEBI update, the company, which submitted its preliminary IPO papers to the capital markets regulator in April, received its "observation" letter on August 2. Issuing an observation letter is interpreted by SEBI as its approval to float an IPO.
According to the draft papers, the company plans to use the net proceeds to pay off debt, cover capital expenditure costs, fund acquisition-related inorganic development activities, as well as for general corporate needs. In Delhi-NCR, the business has three super-specialty hospitals. Madhya Pradesh was just included in the expansion.
The book-running lead managers for the IPO are IIFL Securities Ltd, Intensive Fiscal Services Pvt Ltd, and Ambit Pvt Ltd.
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