1) IPO Dates

The bidding for the initial public offering will start on July 26 and the last day to apply for IPO would be July 28.

2) Price Band

The company has fixed a price band of Rs 285-300 per share for its initial public offering.3) IPO Size

3) IPO Size

The total amount raised through the public issue would be between Rs 676.7 crore (at the lower price range) and Rs 686.55 crore (at the higher price band). The transaction includes a new issuance of shares of Rs 490 crore and an OFS of 65.51 lakh equity shares by promoters Vimla Tyagi, Prem Narayan Tyagi, and Neena Tyagi.

Since the business raised Rs 120 crore through private placement (pre-IPO placement) of 40 lakh shares at a price of Rs 300 per share on July 6, before submitting the red herring prospectus with the Registrar of Companies, the actual fresh issue size was reduced to Rs 490 crore, from Rs 610 crore.

4) Objectives Of Issue

Yatharth Hospital plans to use the proceeds from the new issuance for general corporate reasons, including the payment of debts, the purchase of hospital equipment, and the funding of inorganic expansion projects.

5) Lot Size

Investors can place bids starting at 50 equity shares and increasing in 50-share increments. A minimum of Rs 15,000 (50 shares x Rs 300) and a maximum of Rs 1.95 lakh (13 lots) can be invested by retail investors.

6) Company Profile

The Yatharth Hospital & Trauma Care Services Limited has three super speciality hospitals in the Delhi NCR area, in the Uttar Pradesh cities of Noida, Greater Noida, and Noida Extension. In addition, it has purchased a 305-bed multi-specialty hospital in Orchha, Madhya Pradesh, not far from Jhansi, Uttar Pradesh. This facility, which opened for business on April 10, 2022, is one of the largest in the Jhansi-Orchha-Gwalior area. With this purchase, it can now accommodate 1,405 patients at a time.

At the end of March 2023, its critical care programme will have 394 beds available. What’s more, its hospital in Noida Extension, Uttar Pradesh, is one of the largest in the area, with 450 beds. As of the end of the fiscal year (2023-31) it offers a wide range of medical services, including the expertise of 609 doctors.

7) Financials

Over the previous three fiscal years, Yatharth has maintained solid operating and financial performance and growth. From Rs 67.01 crore in FY 2021 to Rs 133.76 m in FY 2023, that is a CAGR of 41.29 % for EBITDA. In fiscal 2021, it earned Rs 19.58 c.; by fiscal 2022, it earned Rs 44.16 c.; and by fiscal 2023, it earned Rs 65.76 c.

As of March 31st, 2021, its net worth was Rs 72.45 crore. As of March 31st, 2023, it was Rs 182.96 crore. In fiscal year 2023, Yatharth’s operating margin was 25.71%. Its occupancy rate climbed from 41.63 percent in Fiscal 2021 to 49.97 percent in Fiscal 2022, and its number of operational beds increased from 864 in Fiscal 2021 to 1,405 in Fiscal 2023 at a CAGR of 27.52 percent. The Jhansi-Orchha hospital began its commercial operations in Fiscal 2023, and by that year, 45.33 percent of its beds were occupied.

8) Promoters and Management

The hospital’s backers are all medical professionals. In addition, its board members come from a wide range of professional backgrounds, including the hospitality industry, medical, banking, economics, and management. Yatharth Tyagi, the company’s current executive director, has worked in the business world on a global scale. He graduated from Leeds Beckett University with a bachelor’s degree in business and management and from Imperial College London with a master’s degree in International Health Management.

Mukesh Sharma is a former banker, Ila Patnaik is a senior economist, and Dr. Sanjeev Upadhyay is a doctor who works with the United National Children’s Fund as a health and nutrition specialist. New members of the Board are Upadhyay, Sharma, and Patnaik.

Amit Kumar Singh, the company’s CEO, has worked in top management for the healthcare industry for 16 years. Our company is led by chartered accountant Pankaj Prabhakar as CFO and by company secretary and Compliance Officer Ritesh Mishra.

9) Risks and Concerns

According to brokerages, below are some of the key risk factors:

–Yatharth’s commercial and financial success will be adversely damaged if the company is unable to attract, retain, or train qualified medical personnel.

-The success of the business is directly tied to the quality of its name and image. The Company’s business, financial condition, results of operations, and prospects could be materially adversely affected if the Company fails to maintain and enhance the Brands and Reputations, or if there is any negative publicity or allegations in the Media regarding this.

-If a corporation is unable to raise its hospital occupancy rates, it may not be able to recoup its investment costs, which might have a devastating impact on the company’s capacity to make a profit.

Also Read :Five IPOs will join the market this week, with three stocks debuting.

10) Allotment and Listing Dates.

By August 2, the IPO share allotment basis will be finalised, and by August 4, eligible investors’ demat accounts will be credited with equity shares. By August 3, investors who did not succeed will have received their money back in their bank accounts.

According to the IPO timetable, Yatharth Hospital equity shares will begin trading on August 7.

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These IPOs would raise a combined Rs 857 cr, of which Rs 170 cr would come from the SME (small and medium-sized firm) sector.

Only one IPO is being offered in the mainboard segment, and it is a hospital chain situated in Noida called Yatharth Hospital and Trauma Care Services. Subscriptions opened on July 26 with a price range of Rs 285 to Rs 300 per share. The offer period would end on July 28.

At the high end of the price range, the company hopes to raise Rs 686.55 crore with its first public offering. New shares worth Rs 490 crore are being issued, and the promoters are selling 65.51 million of their own shares in an OFS.

With a minimum investment of Rs 15,000 crore (one lot of 50 shares x Rs 300) and a maximum investment of Rs 1.95 lakh (13 lots x Rs 300), retail investors have a wide range of options.

The proceeds from the new issuance will be used for debt retirement, hospital capital improvements, and finance of inorganic growth strategies.

As per the IPO timetable, Yatharth Hospital will make its debut on the stock exchanges on August 7.Netweb Technologies India, a provider of high-end computing solutions, will begin trading on the stock market on July 27 after successfully finishing a Rs 631 crore public issue that was over 90 times subscribed to last week.

According to anonymous analysts, the grey market price of Rs 500 per share for Netweb shares was 75 percent more than the final issuance price. Until an initial public offering (IPO) is officially listed for trading, shares may be traded on the grey market.

SME Segment

SME IPOs have continued at a rapid pace, with four public issues expected to hit Dalal Street, raising a total of more than Rs 170 crore.

Khazanchi Jewellers, a manufacturer of gold products situated in Chennai, will launch its Rs 96.74 crore public issue at an issue price of Rs 140 per share on July 24. On July 28th, the offer will officially end.

Excluding issuance charges, the full amount raised will be put towards expanding operations at their current locations as well as opening a new store in Chennai.

Yasons Chemex Care, a manufacturer of dyes, would also launch its public offering on July 24 with a price of Rs 40 per share. With this initial public offering (IPO), the company hopes to raise Rs 20.57 crore (about $4.0 million).

The primary purpose of the public issuance that will end on July 26 is to meet the company’s growing need for working capital.

Shri Techtex will be the third small and medium-sized enterprise (SME) IPO. Shares will be offered between Rs 54 and Rs 61 throughout the offer period, which begins on July 26 and ends on July 28.

The manufacturer of polypropylene non-woven fabric hopes to raise Rs 45.14 crore through the public issue of 74 lakh shares. A factory shed will be built, a solar power plant will be put into operation, machinery will be purchased, and working capital needs will be satisfied with the proceeds.

Innovatus Entertainment Networks, a provider of direct marketing solutions, will also launch its IPO on 25 July. The company hopes to collect Rs 7.74 crore. Shares can be purchased at an issue price of Rs 50 each till the sale expires on July 27.

According to the IPO timetable, on August 3 and August 7, equity shares in Yasons Chemex Care and Shri Techtex will be listed on the NSE SME Emerge, while on August 4 and August 7, Innovatus Entertainment Networks and Khazanchi Jewellers will make their debut on the BSE SME.

Service Care is scheduled to be listed on the NSE SME on July 26, and Asarfi Hospital is scheduled to be listed on the BSE SME on July 27. Over 6 and 195 times as many people subscribed to these public concerns, respectively.

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Public issue would raise a total of Rs 676.7 bn at the lower price range and Rs 686.55 bn at the higher price band. The promoters, Vimla Tyagi, Prem Narayan Tyagi, and Neena Tyagi, are selling off 65.51 million of their own shares in addition to issuing a new 490 million of their own shares.

After raising Rs 120 crore through private placement (pre-IPO placement) of 40 lakh shares on July 6 at a price of Rs 300 per share, the business decreased the size of the fresh offering from Rs 610 crore to Rs 490 crore before submitting the red herring prospectus with the Registrar of Companies.

Beginning on July 26, investors will be able to subscribe to the offering through July 28. The company’s anchor book (a component of QIB) will open on July 25, a day before the issue opens, if there is one.

The operator of the hospital chain has set aside a total of 50% of the issue size for qualified institutional buyers (QIB), 15% for high-net-worth individuals (HNI), and the remaining 35% for retail investors.

An investor must place a bid for a minimum of 50 equity shares, with additional bids in increments of 50 shares. Retail investors can invest as little as Rs 15,000 per lot (50 shares x Rs 300) and as much as Rs 1.95 lakh per investor (13 lots).

In addition to general business reasons, Yatharth Hospital will use the proceeds from the new issue to pay down debt, make hospital-related capital expenditures, and finance inorganic expansion plans.

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The company now runs four hospitals, three of which are super-specialty hospitals in the Delhi-National Capital Region and one of which is a multi-specialty hospital in Madhya Pradesh, with a combined 1,405 beds.

Intense Financial Services, Ambit, and IIFL Securities are the underwriters for the offering.

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