The allotment for the initial public offer (IPO) of Yatharth Hospital and Trauma Care Services (Yatharth) is likely to be finalised today. Investors can check their allotment status on the issue's registrar Link Intime's website as well as on BSE.
The ₹687-crore issue of Yatharth opened for subscription on Wednesday, 26 July. The issue, which has a price band of ₹285-300 per share, closed for subscription on Friday, 28 July. This was the fourth offering in July after Netweb Tech, Senco Gold and Utkarsh Small Finance Bank.
The public issue received a solid response from the investors and was subscribed to 37.28 times in the 3 days. It received bids for 59.72 crore shares against 1.60 crore shares on offer. The portion for qualified institutional bidders (QIBs) was booked 86.37 times, while the portions for non-institutional bidders (NIIs) and retail investors were subscribed 38.62 times and 8.66 times, respectively.
Incorporated in 2008, Yatharth Hospital and Trauma Care Services Limited is a multi-care hospital chain.
The firm is likely to be listed on BSE and NSE on Monday, 7th August.
Here's how you can check the allotment status:
1) Go to the website.
2) Select ‘Equity’ and then from the dropdown, select the issue name (Yatharth Hospital and Trauma Care Services).
3) Enter your application number and PAN card number.
4) Click on the "Search" button.
In a similar way, you can also check on its registrar's website
1) Go to the website of Link Intime.
2) Click on ‘Company Selection’ and then select the IPO name (Yatharth Hospital and Trauma Care Services).
3) Now, enter your PAN, application number, DP / Client ID or account number / IFSC.
4) Click on ‘Search’.
The status will only appear after allotment if the details are entered correctly. In the case of non-allotment, the blocked amount will be refunded to your bank account. The company will initiate refunds on Thursday, 3rd August, while the shares will be credited to the Demat account of allottees on Friday, 4th August.
GMP: Ahead of the IPO, the company's shares in the grey market are trading at a healthy premium of ₹80, indicating a strong response for the issue. It has risen from ₹60 on July 28.
However, one must note that grey market premium is only an indicator of how the company's shares are performing in the unlisted market and can change quickly.
Yatharth Hospital IPO consists of a fresh issuance of shares for ₹490 crore and an offer by the promoters Vimla, Prem Narayan, and Neena Tyagi to sell 65.51 lakh equity shares.
Yatharth Hospital intends to use the net proceeds to pay off or advance debt, fund capital expenditure expenses for the company's two hospitals, Noida Hospital and Greater Noida Hospital, as well as for the hospitals run by the company's subsidiaries AKS and Ramraja.
Most brokerages had a ‘subscribe’ rating on the issue on the back of reasonable valuations, healthy financials, stable margins, strategic acquisition, and promising industry outlook.