Yatharth Hospital, private hospital in the National Capital Region of Delhi in terms of number of beds in Fiscal 2021, filed its DRHP for IPO with SEBI.
The IPO comprises a fresh issue of Rs 610 crore and an offer for sale (OFS) of up to 6.55 million shares by current shareholders and promoters.
The company may consider a pre-IPO placement aggregating up to Rs 122 crore prior to filing of the Red Herring Prospectus with the ROC. If such placement is completed, the fresh issue size will be reduced to the extent of such pre-IPO placement, it said.
As many as 37.43 lakh equity shares would be sold by Vimla Tyagi, 20.21 lakh equity shares by Prem Narayan Tyagi and 7.87 lakh equity shares by Neena Tyagi.
Yatharth Hospital operates three super specialty hospitals in Delhi NCR, i.e., at Noida, Greater Noida and Noida Extension, Uttar Pradesh. They have also recently acquired a multi-specialty hospital in Orchha, Madhya Pradesh near Jhansi. With this Yatharth Hospital has a total capacity of 1,405 beds at their disposal.
The company plans to use Rs 65 crore for funding inorganic growth via acquisitions and other strategic initiatives. “We intend to diversify the scope of our offerings to customers and enter into new markets, which so far has not been tapped by the us and/or the existing market, where we already have presence and wish to consolidate such presence by acquiring new hospitals by way of inorganic growth by way of acquiring the already operational/non-operational hospitals,” it said in its draft red herring prospectus.
BRLM's to the issue are: Intensive Fiscal Services Private Limited; Ambit Private Limited and IIFL Securities Limited.