Yatharth Hospital IPO grey market premium corrects after allotment; check details
The IPO of Yatharth Hospital, a Delhi-NCR based multi-care hospital chain, was sold in the range of Rs 475-500 apiece, between July 26-28 with a lot size of 50 shares.
- Aug 3, 2023,
- Updated Aug 3, 2023 3:07 PM IST
Yatharth Hospital and Trauma Care Services has been hit hard in the grey market after finalizing the basis of allotment of its shares on Wednesday. The listing bounder player has seen a sharp correction in its grey market premium in the last 24 hours as the correction in listed space intensifies. The grey market premium of the company has corrected to Rs 70-75 per share from Rs 85-90 on Wednesday. However, the company's grey market premium stood firm around Rs 50 per share on July 26, when the issue opened for bidding. According to the analytics tracking the grey market, the steep correction in the secondary markets is denting the premium in the unofficial markets. Also, the hospital stocks have also seen some fallout lately from their peaks, adding more pressure for the prospects of the company. The Rs 687-crore initial public offering (IPO) of the Yatharth Hospital had received a decent response from the investors during the three-day bidding process. The issue of multi-specialty hospital chain was overall subscribed more than 37.28 times, led by qualified institutional bidders, as the company sold its shares in the range of Rs 475-500 apiece between 26-28. Incorporated in 2008, Yatharth Hospital is a hospital chain which operates four-super specialty hospitals located in Noida, Greater Noida, and Noida Extension. The company acquired a 305-bedded multi-specialty hospital in Orchha, Madhya Pradesh to extend its operations and services. Majority of the brokerage were positive on the issue and have suggested subscribing for the issue. However, select brokerage firms are skeptical over the issue on the back of high fixed cost, debt-heavy operational expenses, dependency on select special facilities and government deals compressing the margins. Intensive Fiscal Services, Ambit and IIFL Securities are the book running lead managers to the issue, while Link Intime India has been appointed as the registrar to the issue. The stock will be listed on both BSE and National Stock Exchange (NSE). Investors, who had bid for the issue and have not checked their application status, can check the allotment status on the Bombay Stock Exchange (BSE) website, which is https://www.bseindia.com/investors/appli_check.aspx. They can check Equity as issue type and select the company name to proceed. One needs to only add application numbers and the PAN card ID before checking 'I am not a Robot' and hitting submit.
Investors can also check the allotment status on the online portal of Link Intime (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue and then select the company name from all options, if the allotment is finalized. Fill either application number, demat Account number, or PAN ID and the captcha accurately, before hitting submit.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries after the issue is completed. Bidders who could not get allotment in the IPO may see the initialization of refunds on Thursday, August 03. Others, who would be allotted shares may see the credit of shares, in the Demat account by Friday, August 04. The listing of the IPO is likely on Monday, August 07.
Yatharth Hospital and Trauma Care Services has been hit hard in the grey market after finalizing the basis of allotment of its shares on Wednesday. The listing bounder player has seen a sharp correction in its grey market premium in the last 24 hours as the correction in listed space intensifies. The grey market premium of the company has corrected to Rs 70-75 per share from Rs 85-90 on Wednesday. However, the company's grey market premium stood firm around Rs 50 per share on July 26, when the issue opened for bidding. According to the analytics tracking the grey market, the steep correction in the secondary markets is denting the premium in the unofficial markets. Also, the hospital stocks have also seen some fallout lately from their peaks, adding more pressure for the prospects of the company. The Rs 687-crore initial public offering (IPO) of the Yatharth Hospital had received a decent response from the investors during the three-day bidding process. The issue of multi-specialty hospital chain was overall subscribed more than 37.28 times, led by qualified institutional bidders, as the company sold its shares in the range of Rs 475-500 apiece between 26-28. Incorporated in 2008, Yatharth Hospital is a hospital chain which operates four-super specialty hospitals located in Noida, Greater Noida, and Noida Extension. The company acquired a 305-bedded multi-specialty hospital in Orchha, Madhya Pradesh to extend its operations and services. Majority of the brokerage were positive on the issue and have suggested subscribing for the issue. However, select brokerage firms are skeptical over the issue on the back of high fixed cost, debt-heavy operational expenses, dependency on select special facilities and government deals compressing the margins. Intensive Fiscal Services, Ambit and IIFL Securities are the book running lead managers to the issue, while Link Intime India has been appointed as the registrar to the issue. The stock will be listed on both BSE and National Stock Exchange (NSE). Investors, who had bid for the issue and have not checked their application status, can check the allotment status on the Bombay Stock Exchange (BSE) website, which is https://www.bseindia.com/investors/appli_check.aspx. They can check Equity as issue type and select the company name to proceed. One needs to only add application numbers and the PAN card ID before checking 'I am not a Robot' and hitting submit.
Investors can also check the allotment status on the online portal of Link Intime (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue and then select the company name from all options, if the allotment is finalized. Fill either application number, demat Account number, or PAN ID and the captcha accurately, before hitting submit.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries after the issue is completed. Bidders who could not get allotment in the IPO may see the initialization of refunds on Thursday, August 03. Others, who would be allotted shares may see the credit of shares, in the Demat account by Friday, August 04. The listing of the IPO is likely on Monday, August 07.