Asarfi Hospital IPO: Overwhelming Investor Interest, Subscribed 195 Times Until Final Day
Asarfi Hospital IPO
Asarfi Hospital IPO: Overwhelming Investor Response, Subscription at 195 Times
The initial public offering (IPO) of Asarfi Hospital, a multi-specialty healthcare provider, has witnessed an exceptional response from investors.
The IPO, which opened for subscription on 17th July, has garnered an astounding 195.14 times subscription until the last day of subscription, 19th July.
This impressive response reflects the market’s confidence in the company’s growth prospects and its offerings in the healthcare sector.
IPO Details
The Asarfi Hospital IPO is entirely based on a fresh issue, where the company issued 51.80 lakh fresh equity shares, resulting in a total amount of Rs 26.94 crore.
The price band for the issue was set at Rs 51-52 per share, providing investors with an opportunity to participate in the company’s growth story.
Response Across Categories
Investors from all categories have shown immense interest in the Asarfi Hospital IPO. Qualified institutional buyers (QIBs) have subscribed to the IPO 50.60 times, indicating strong institutional demand for the company’s shares.
Non-institutional buyers have shown remarkable interest, subscribing to the portion 451.62 times. Retail investors have also enthusiastically participated in the IPO, with their portion witnessing a subscription of 167.81 times.
The total number of bids received stands at a staggering 67,20,52,000 shares against the 5,180,000 shares on offer, based on data from chittorgarh.com.
Gray Market Update
The gray market for the Asarfi Hospital IPO is abuzz with demand, underscoring investors’ excitement for the company’s shares.
Currently, the IPO is trading at a premium of Rs. 33, indicating strong investor interest and expectations for significant listing gains.
If the shares are indeed listed at Rs. 85 per share, as projected, investors stand to enjoy a remarkable profit of 63%.
IPO Schedule
According to the IPO schedule, the allotment of shares to successful bidders will be finalized on July 24. For those who did not receive an allotment, the refund process will commence from July 25.
Successful investors can expect their shares to be credited to their demat accounts on July 26. Asarfi Hospital shares will then be listed on BSE SME, the platform dedicated to Small and Medium Enterprises, on July 27.
A Glimpse of Asarfi Hospital
Asarfi Hospital stands as a 250-bedded multi-specialty healthcare facility with 23 specialized departments.
Boasting a team of 70 doctors, 242 nursing staff, and 481 other support staff, the hospital offers comprehensive medical services to the people of Dhanbad, located in the eastern state of Jharkhand.
The hospital’s revenue predominantly originates from cardiology, neurosciences, general medicine, pediatrics, and obstetrics services, showcasing its commitment to meeting diverse healthcare needs in the region.
Future Growth Prospects
With over 15 years of dedicated service to the community, Asarfi Hospital has established itself as a reliable healthcare provider in the region.
The company is now expanding its offerings by building a new dedicated cancer hospital with 50 beds in Dhanbad.
This strategic move demonstrates the hospital’s commitment to enhancing its specialized medical services and furthering its contribution to cancer care in the area.
Conclusion
The Asarfi Hospital IPO has proven to be a massive success, attracting significant investor interest and oversubscription.
The strong response across all investor categories and the optimistic gray market outlook have created a buzz of excitement in the market.
As the IPO proceeds to its next stages, investors eagerly anticipate listing gains and a chance to be part of Asarfi Hospital’s growth journey.
With its comprehensive healthcare services and future expansion plans, Asarfi Hospital continues to be a promising player in the dynamic Indian healthcare sector.
