Yatharth Hospital gains 11% on debut; Concord IPO subscribed 2.3x on day 2

Yatharth Hospital gains 11% on debut

Shares of Yatharth Hospital & Trauma Care Services Ltd on Monday jumped over 11 per cent against the issue price of Rs 300 on its first day of trade. The stock began the trade at Rs 304, a gain of 1.33 per cent, on the BSE. During the day, it jumped 14.23 per cent to Rs 342.70 before settling at Rs 333.75, up 11.25 per cent at the close.
 

At the NSE, shares of the company were listed at Rs 306.10, up 2 per cent from the issue price. It later ended at Rs 331.30, up 10.43 per cent. A total of 1.51 million shares of the company were traded at the BSE, and over 22.1 million shares at the NSE during the day. The company commanded a market valuation of Rs 2,865.25 crore.

Concord Biotech IPO subscribed 2.3x on day 2

Concord Biotech’s IPO was subscribed 2.3 times on Monday, with most of the bids so far coming from retail and high net-worth individual (HNI) investors.

Last week, Concord had allotted shares worth Rs 465 crore to anchor investors at Rs 741 per share, the top-end of the price band. Concord Biotech’s IPO is entirely an offer for sale by Helix Investment.

At the top-end of the price band, the issue size works out to Rs 1,551 crore and the company’s market cap would be Rs 7,752 crore. Based in Ahmedabad, Concord Biotech is a maker of fermentation-based bulk drugs.

Late Rakesh Jhunjhunwala’s investment arm Rare Enterprises owns a 24.1 per cent in the company. The company’s IPO closes on Tuesday. 

SBFC IPO subscribed 70x

SBFC Finance’s IPO was subscribed over 70 times on Monday, the concluding day of the issue. The institutional investor portion of the IPO was subscribed 193 times, high net worth individual portion 49 times and retail portion nearly 11 times.

Through the IPO, SBFC Finance has raised Rs 600 crore in fresh capital. The IPO also consisted of share sale by selling existing investors to the tune of Rs 425 crore by Arpwood Partners and Eight45 Services. At the IPO price, SBFC will be valued at  Rs 6,066 crore on a post-dilution basis.

Analysts said SBFC is valued at 3.6 times its book value, which given the growth opportunities and strong fundamentals of the company is attractive.