Yatharth Hospital & Trauma Care Ltd on Tuesday said it has collected Rs 206 crore from anchor investors ahead of its initial share sale that will open for public subscription on Wednesday.
The company has allotted 68.65 lakh equity shares to 18 funds at Rs 300 apiece, which is also the upper end of the price band, according to a circular uploaded on the BSE website. BNP Paribas Arbitrage, Goldman Sachs (Singapore) Pte, SBI Life Insurance Company, Max Life Insurance Company, Kotak Mahindra Life Insurance Company, ICICI Prudential Mutual Fund, HDFC MF, Nippon India MF and Aditya Birla Sun Life MF are among the anchor investors.
The IPO comprises a fresh issue of equity shares aggregating up to Rs 490 crore and an offer for sale (OFS) of up to 65.51 lakh equity shares by the company’s promoter group entities. The company has set a price band of Rs 285-300 per share for its public issue, which will be open for subscription during July 26-28. It intends to utilise the net proceeds for repayment of the debt, funding capital expenditure expenses, funding inorganic growth initiatives through acquisition and other strategic initiatives and for general corporate purposes.
The public issue is expected to fetch Rs 677-687 crore in the price band. Earlier this month, Yatharth Hospital, which operates and manages private hospitals in 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. Going by the RHP, Yatharth Hospital operates three super speciality hospitals located in Delhi-NCR. At present, it has a total bed capacity of 1,405 beds, which is inclusive of 305 beds of Ramraja Multispeciality Hospital & Trauma Centre Pvt Ltd, an arm of the company.
