Yatharth Hospital IPO Sees Strong Investor Interest on Day 2, Oversubscribed 2.61 Times

27 Jul 2023 , 03:49 PM

Yatharth Hospital and Trauma Care Services’ initial public offering (IPO) continued to attract significant investor response on July 27, the second day of bidding, reaching an oversubscription of 2.61 times.

As of afternoon, bids were received for 4.30 crore equity shares, surpassing the IPO size of 1.65 crore shares.

High net worth individuals (HNIs) and retail investors showed keen interest, subscribing 4.66 times and 3.02 times their allotted quotas, respectively, while qualified institutional buyers (QIBs) bid for 0.28 times of the shares reserved for them.

The hospital chain, based in Noida, aims to raise Rs 686.55 crore through the IPO, with a fresh issue of shares worth Rs 490 crore and an offer for sale of Rs 196.55 crore by promoters. The subscription period closes on July 28, with half of the issue reserved for QIBs, 15% for HNIs, and the remaining 35% for retail investors.

Yatharth Hospital and Trauma Care Services’ initial public offering (IPO) received a strong response from anchor investors on Tuesday, July 25, with a total of Rs 205.96 crores raised from 18 prominent investors. The IPO was priced at the upper band of Rs 300 per equity share.

Among the notable anchor investors were SBI Life Insurance Company, Goldman Sachs (Singapore), Kotak Mahindra Life Insurance Company, ICICI Prudential Mutual Fund, Max Life Insurance Company, HDFC MF, and BNP Paribas Arbitrage, demonstrating confidence in the company’s prospects.