Yatharth Hospital & Trauma Care Services Ltd made a mild debut on Dalal Street on Monday as its shares listed at Rs 306.10 on NSE, a 2% premium over its issue price of Rs 300 per share. Meanwhile, on BSE it debuted 1% higher at Rs 304 apiece. Later in trade, the stock soared more than 10% to hit an intraday high of Rs 343.10 on NSE
A day ahead of its listing, shares of Yatharth Hospital were commanding a grey market premium (GMP) of Rs 70-75 per share, or about 25%. The premium in the unofficial for the company has remained stable around similar levels, since the closure of the issue. However, the listing has been against the tide
According to share market analysts, the ongoing volatility in the secondary market has impacted fresh listings, with Yatharth Hospital's IPO listing at, a premium of only around 2% over the upper end of the price band. This is well below expectations, given the strong subscription rate that the IPO received earlier. However, the current market uncertainty is likely to blame for the muted response from investors
"Yatharth Hospital & Trauma Care Services Limited chain is amongst the prominent super specialty providers in Delhi NCR and stable fundamentals. The company however sees great growth potential in the near future. We suggest investors to book 100% profit on the listing day," said Mahesh M. Ojha AVP – Research & Business Development, Hensex Securities
"Post listing, Yatharth Hospital shares are trading at Rs 333 per share, a premium of around 10% over the issue price. Investors who are looking for short-term gains may book profits at this level. However, aggressive investors who believe in the long-term prospects of the company may hold the stock with a stop loss at around the issue price," said Anubhuti Mishra, Equity Research Analyst at Swastika Investmart Ltd
Yatharth Hospital raised about Rs 687 crore from its initial stake sale and had received a decent response from the investors. The issue was overall subscribed 37.28 times during the three-day bidding. The quota for qualified institutional bidders (QIBs) was booked 86.37 times, while non-institutional investors (NIIs) were subscribed 38.62 times and retail investors' allocation was booked 8.66 times
Incorporated in 2008, Yatharth Hospital is a hospital chain that 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
Intensive Fiscal Services, Ambit and IIFL Securities are the book running lead managers to Yatharth Hospital public issue, while Link Intime India has been appointed as the registrar to the issue
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