IPO of Yatharth Hospital subscribed 1.1 times on first day of issue

The initial public offering (IPO) of Yatharth Hospital and Trauma Care Services was subscribed 1.1 times on Wednesday, the first day of the issue. A day earlier, the hospitality chain had allotted shares worth Rs 206 crore to 18 anchor investors. The price band for the IPO is Rs 285-Rs 300 per share. The hospital chain is looking to raise Rs 490 crore in fresh capital, which will be used to retire debt and fund expansion. At the top-end, the hospital chain will be valued at Rs 2,576 crore. For the year ended March 2023, the company had reported net profit of Rs 66 crore on revenues of Rs 520 crore.