Yatharth Hospitals Raises ₹625 Crore via QIP at ₹595 per Share

27 Dec 2024 , 12:12 AM

Yatharth Hospitals Ltd. has garnered ₹625 crore through Qualified Institutional Placement, an issue of shares to qualified institutional investors. The company had issued 1.05 crore equity shares, each of face value of ₹10, the board of directors approved.

The QIP shares were at ₹595 per share which was 5% lower compared with the floor price of ₹626. Some of the key indigenous institutions that have availed QIP are Kotak Mutual Fund (different plans) and SBI Life Insurance. Global financial institutes like CitiGroup and Societe Generale also bagged shares under QIP.

After the issue, the total paid-up equity share capital of Yatharth Hospitals increased from ₹85.85 crore (8.58 crore shares) to ₹96.35 crore (9.63 crore shares). Yatharth Tyagi, a key spokesperson for Yatharth Hospitals, said in a recent interview that the occupancy levels would continue to stay above 65% by FY2027.

On December 26, 2024, shares of Yatharth Hospitals closed at ₹599.95 which is a 3.07% dip than the previous close. The stock has gained a total of 58% in the last one year, and 45% in the last six months.

He said this growth was due to two of the group’s hospitals that were currently in their expansion phase and would see major ramp-ups in occupancy. This QIP capital will align with Yatharth Hospitals’ plans to strengthen its financial foundation and expand its operational capabilities.