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Yatharth Hospitals Raises Rs 206 Crore from Anchor Investors, Ahead of IPO 

Yatharth Hospital announced that it raised around Rs 206 crore from anchor investors ahead of its IPO.

Yatharth Hospital & Trauma Care Services Ltd announced on July 25 that it has raised around Rs 206 crore from anchor investors ahead of its initial public offering (IPO) opening for subscription today.

Marquee investors like Goldman Sachs (Singapore), ICICI Prudential, HDFC Mutual Fund, Aditya Birla Sun Life Trustee, HSBC Global Investment Funds, SBI Life Insurance, Kotak Mahindra Life were among 18 funds who participated in the anchor book.

The company said in a circular on the Bombay Stock Exchange (BSE) website that it allotted 68,65,506 equity shares to the anchor investors at an issue price of Rs 300 per share. The upper end of the price band is also set at Rs 300.

The IPO of the Noida-based hospital chain comprises a Rs 490 crore fresh issue and an offer for sale (OFS) of 65.51 lakh equity shares by promoters Vimla Tyagi, Prem Narayan Tyagi and Neena Tyagi.

The company has fixed a price band of Rs 285-300 per share for its public issue, which will be open for subscription during July 26-28, expecting to raise Rs 677-687 crore in the price band. 

The fresh issue proceeds will be utilised to repay the debt, fund capital expenditure expenses and inorganic growth initiatives through acquisition and general corporate purposes.

Earlier this month, the private hospital operator raised Rs 120 crore from institutional investors in the pre-IPO round reducing the fresh issue size to Rs 490 crore from Rs 610 crore planned earlier.

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