Yatharth Hospital IPO Listing- Shares have tepid debut on bourses, list at 1% premium

Yatharth Hospital IPO Listing: Shares have tepid debut on bourses, list at 1% premium

Yatharth Hospital IPO: Yatharth Hospital shares listed at 1% premium over IPO price on the BSE amid a positive domestic market. The share debuted at Rs 304 on the BSE, as compared to the issue price of Rs 300. A positive listing was expected as ahead of the market debut, Yatharth Hospital shares were trading at a premium of Rs 75 in the grey market. Yatharth Hospital IPO subscription data

Yatharth Hospital IPO opened for subscription on 26 July and the issue was fully subscribed 37.28 times on the last day of subscription, helped by overwhelming participation from institutional buyers. The Qualified Institutional Buyers (QIBs) category was subscribed 86.37 times, the portion for non-institutional investors received 38.62 times subscription and Retail Individual Investors (RIIs) quota got oversubscribed by 8.66 times.

“Around 80% of YHTC’s operating beds are present in highly competitive market of Delhi-NCR region. Ramraja Hospital is operating at lower bed occupancy levels and is currently loss making. Thus we are cautiously optimistic on the medium-term performance of the company. At the higher price band, YHTC is demanding a P/E multiple of 39.2x (to its FY23 earning), which seems to be in-line to the peer average. Considering the above observations, we assign a “Subscribe with Caution” rating for the issue,” said Choice Broking.

About Yatharth Hospital

Yatharth Hospital & Trauma Care Services is a private hospital which provides healthcare services and is based out of North India. Its first hospital was set up in Greater Noida in Nov ’10, it has continued to expand. It has four operational hospitals in the northern regions with 1405 beds and as of Mar ’23, it had 609 doctors engaged on panel.