All ready for the IPO! Yatharth Hospital, Trauma Care Limited raises Rs 1,200 million through pre-IPO placement

Yatharth Hospital & Trauma Care Limited raised Rs.120 crore in a pre-IPO placement of 4,000,000 shares at a price of Rs.300 per share

Updated on July 8, 2023 | 1:51 p.m. IST

Yatharth Hospital & Trauma Care raises Rs 120 crore through pre-IPO placement and submits Proposed Listing to DRHP

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Yatharth Hospital & Trauma Care Limited has announced a pre-market offering of 4,000,000 shares at a price of Rs.300 per share. The Company raised a total of Rs.120 crore during the placement approved by the Board and shareholders.

Plutus Wealth Management LLP was allotted Rs. 2,000,000 shares. 60 crore, Think India Opportunities Master Fund LP received 1,000,000 shares valued at Rs 30 crore, Vikas Vijaykumar Khemani received 333,333 shares valued at Rs 10 crore, Rosy Blue Diamonds Pvt. ltd received 433,334 shares worth Rs.13 crore and Viraj Russell Mehta was allotted 233,333 shares worth Rs.7 core.

Yatharth Hospital & Trauma Care Limited has also filed with SEBI a draft Red Herring Prospectus (DRHP) for its proposed initial public offering. The company originally planned a new issue of up to Rs. 610 crore, but following the pre-IPO placement, the revised size of the new issue is now up to Rs. 490 crore. The IPO will also include an offer to sell up to 6,551,690 shares by Promoter Group’s selling shareholder.

The offer for sale consists of up to 3,743,000 shares of Vimla Tyagi, up to 2,021,200 shares of Prem Narayan Tyagi and up to 787,490 shares of Neena Tyagi, all of which are part of the Promoter Group Selling Shareholders.

Intensive Fiscal Services Private Limited, Ambit Private Limited and IIFL Securities Limited have been appointed Book Running Lead Managers on the issue.

The pre-IPO placement and filing of the DRHP indicate significant progress for Yatharth Hospital & Trauma Care Limited in preparing for its IPO. The funds raised through the IPO will support the company’s expansion plans and contribute to its future growth. Investors and stakeholders will eagerly await further updates on the IPO and its timing.