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Yatharth Hospital IPO intends to use the net proceeds to pay off or advance debt; Should you invest?

Yatharth Hospital & Trauma Care Services is a private hospital that provides healthcare services and is based in the northern region of India. It has four operational hospitals and 1,405 beds and as of March 23, with 609 doctors engaged on its panel for servicing the patients.

Stay updated with Yatharth Hospital IPO Subscription Day 2. Get the latest news on Yatharth Hospital's public offering and find out how to subscribe at news18.com

According to market sources, the grey market premium (GMP) of Yatharth Hospital was Rs 55. Ahead of the IPO opening, the company raised nearly Rs 206 crore from 18 anchor investors.

Yatharth Hospital said it will utilise fresh issue proceeds for repaying debts, capital expenditure for hospitals, and funding inorganic growth initiatives, besides general corporate purposes.

"On FY23 financials, the IPO is valued at 39.2x P/E, 20.9x EV/EBITDA and 5.4x EV/sales," Reliance Securities said while assigning a subscribe rating. Yatharth Hospital & Trauma Care Services is a private hospital which provides healthcare services and is based in the northern region of India.

Ahead of the IPO opening, the company raised nearly Rs 206 crore from 18 anchor investors. The issue has received a thumbs-up from analysts, with most recommending a "subscribe" given strong financials and growth potential in Northern India.

Yatharth Hospital’s IPO is being offered in the Rs 285-300 price band, with a lot size of 50 equity shares. The issue will conclude on July 28.

The company has fixed a price band at Rs 285-300 per share for its initial public offering.

Yatharth Hospital and Trauma Care Services is looking to raise about Rs 687 crore via primary markets; Should you invest?