Shares of Yatharth Hospital and Trauma Care Services Limited will be listed today. The company’s IPO size was ₹686 crore. It has fixed the IPO price at ₹300, the upper end of the price band ₹285-300.
The IPO has garnered substantial interest from qualified institutions, with the portion reserved for them being oversubscribed by an impressive 85.10 times. Respective quotas of retail investors and non-institutional investors were subscribed 8.34 times and 37.22 times. Overall, the IPO was subscribed 36.16 times.
The IPO consisted of a fresh issue of ₹490 crore and an offer for sale by existing promoters Vimla Tyagi, Prem Narayan Tyagi, and Neena Tyagi (65.51 lakh shares worth ₹196 crore).
The company had raised ₹205.96 crore via anchor book ahead of the IPO. In its filing to exchanges, the company said it had finalised the allocation of 68.65 lakh shares to 18 anchor investors at an issue price of ₹300 a share.
Marquee investors that participated in the anchor book included ICICI Prudential, Nippon Life, HDFC Mutual Fund, Aditya Birla Sun Life Trustee, Bandhan Mutual Fund, HSBC Global Investment Funds, SBI Life Insurance, Troo Capital, Carnelian Capital, BNP Paribas Arbitrage, Goldman Sachs, Max Life Insurance, Kotak Mahindra Life, and Jupiter India Fund.
Yatharth proposes to utilise the net proceeds of the fresh issue towards repayment of debt, funding capital expenditure expenses, funding inorganic growth initiatives through acquisition and other strategic initiatives, and for general corporate purposes.