Broach Lifecare Hospital IPO Subscription Status

Tanushree Jaiswal Tanushree Jaiswal

Last Updated: 19th August 2024 - 11:40 am

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Broach Lifecare Hospital IPO - Day- 3 Subscription at 150.23 Times

 

Broach Lifecare Hospital's IPO will close on August 16, 2024. The shares of Broach Lifecare Hospital's IPO will likely be listed on August 21, 2024, and will make a trading debut on the NSE SME platform.

On 16 August 2024, the Broach Lifecare Hospital IPO received bids for 22,89,48,000 shares instead of 15,24,000 shares. This means the IPO was oversubscribed 150.23 times by the end of the third day.

 

Here are the subscription details for Broach Lifecare Hospital IPO as of Day 3 (16th August 2024 at 4:09:07 PM ):

Employees (1x) QIBs (Ox) HNI / NII (87.35x) Retail (209.72x) Total ((150.23x)

Qualified Institutional Buyers (QIBs), who typically include large institutional investors such as mutual funds and insurance companies, did not show immediate interest, with their segment remaining unsubscribed at 0 times. However, it's common for QIBs to ramp up their subscriptions during the final hours of the last day, reflecting their strategic investment approach. The market-making segment of the IPO was subscribed 1 time, ensuring liquidity for the shares once they were listed.

Subscription Status of Broach Lifecare Hospital IPO for Days 1, 2, and 3

Date Other Retail Total
Day 1
13 August 2024
1.55 15.91 8.73
Day 2
14 August 2024
6.96 53.69 30.33
Day 3
16 August 2024
87.35 209.72 150.23

On day 1, Broach Lifecare Hospital IPO was subscribed 8.73 times. By day 2, the subscription status had risen to 30.33 times, and by day 3, it had reached 150.23 times.

Here are the subscription details for Broach Lifecare Hospital IPO as of Day 3 (16th August 2024 at 4:09:07 times)

Investor Category Subscription (times) Shares Offered Shares Bid For Total Amount (₹ in Crore)
Market Maker 1.00 84,000 84,000 0.21
Non-Institutional Buyers 87.35 7,62,000 6,65,64,000 166.41
Retail Investors 209.72 7,62,000 15,98,04,000 399.51
Total 150.23 15,24,000 22,89,48,000 572.37

Broach Lifecare Hospital IPO received a varied response from different investor categories. The Market Maker fully subscribed 1 time each. Qualified Institutional Buyers (QIBs) subscribed 0 times, High Net-Worth Individuals (HNIs) and Non-Institutional Investors (NIIs) 87.35 times, and Retail Investors 209.72 times. Overall, Esprit Stones IPO was subscribed 150.23 times.

Broach Lifecare Hospital IPO- Day- 2 Subscription at 29.75 Times

At the end of Day 2, Broach Lifecare Hospital IPO subscribed 29.75 times. Moreover, the public issue subscribed 52.92 times in the retail segment, 0 times in QIB, and 6.58 times in the HNI /NII category on 14 August 2024. 

Here are the subscription details of Broach Lifecare Hospital IPO as of Day 2 (14th August 2024 at 4:55:09 PM):

Employees (NA X) QIBs (0.00X) HNI / NII (6.58 X) Retail (52.92 X) Total (29.75 X)

It’s common for QIBs and HNIs/NIIs to increase their subscription rates in the final hours of the last day of the IPO, often to secure more shares or to gauge the market sentiment before committing. However, in the case of Broach Lifecare Hospitals, the overwhelming support from retail investors was the driving force behind the overall subscription, which reached an impressive 29.75 times, reflecting a strong market response to the IPO. 

Notably, these figures exclude any contributions from employees, as there was no specific allocation for them in this offering. The absence of a notable QIB subscription suggests a unique dynamic in this IPO, where the retail and NII segments played a crucial role in its success.

Here are the complete subscription details for the Broach Lifecare Hospital IPO as of Day 2( 14th August 2024 at 4:55:09 PM) :

Investor Category Subscription (times) Shares Offered Shares Bid For Total Amount (₹ in Crore)
Market Maker 1 84,000 84,000 0.21
Non-Institutional Buyers*** 6.58 7,62,000 50,16,00 12.54
Retail Investors 52.92 7,62,000 4,03,26,000 100.82
Total 29.75 15,24,000 4,53,42,000 113.36

On day 1, Broach Lifecare Hospital IPO was subscribed 8.73 times. By day 2, the subscription status had risen to times. However, the final status will be clear after the end of day 3. The subscription figures for Broach Lifecare Hospitals IPO reveal a strong interest primarily driven by Retail Investors, who subscribed to the offering at a remarkable rate of 52.92 times. This robust participation from retail investors highlights the confidence and appeal the IPO holds among individual investors.

Following the retail segment, High Net-Worth Individuals (HNIs) and Non-Institutional Investors (NIIs) showed considerable interest, with a subscription rate of 6.58 times. Interestingly, Qualified Institutional Buyers (QIBs), typically large entities such as mutual funds and insurance companies, did not show significant participation in this IPO, with a subscription rate of 0.00X, indicating either a lack of interest or strategic waiting on their part.

Broach Lifecare Hospital IPO Day 1 Subscription at 8.73 Times: Should You Subscribe or Not?

The Broach Lifecare Hospital Initial Public Offering (IPO) subscription period begins on August 13, 2024, and ends on August 16, 2024. On Monday, August 19, 2024, the Broach Lifecare Hospital IPO allocation is anticipated to be completed. The Broach Lifecare Hospital Initial Public Offering (IPO) is scheduled to go live on BSE SME on Wednesday, August 21, 2024.

On 13th August 2024, the Broach Lifecare Hospital IPO received bids for 1,33,08,000 shares, significantly exceeding the 15,24,000 shares available for subscription. This indicates that the Broach Lifecare Hospital IPO was oversubscribed by 8.73 times by the end of Day 1.

Here are the subscription details for Broach Lifecare Hospital IPO as of Day 1 (13th August 2024 at 5:17:09 PM):

Employees (N.A) QIBs (0X)

HNI / NII (1.55X)

Retail (15.91X)

Total (8.73x)

It is typical for QIBs and HNIs/NIIs to increase their subscriptions towards the final hours of the IPO's last day, potentially boosting the overall figures significantly. The current subscription data does not include the IPO's anchor portion or market-making segment, focusing solely on the core investor categories.

Here are the subscription details for Broach Lifecare Hospital IPO by category as of Day 1 (13th August 2024 at 5:17:09 PM )

Investor Category Subscription (times) Shares Offered Shares Bid For Total Amount (₹ in Crore)
Non-Institutional Buyers*** 1.55 7,62,000 11,82,000 2.96
Retail Investors 15.91 7,62,000 1,21,26,000 30.32
Total 8.73 15,24,000 1,33,08,000 33.27

On day 1, of the Broach Lifecare Hospital IPO, retail investors primarily drove the subscription, who showed strong interest with a subscription rate of 15.91x. High Net-Worth Individuals (HNIs) and Non-Institutional Investors (NIIs) followed with a subscription rate of 1.55x. Qualified Institutional Buyers (QIBs) have not yet participated in the subscription process, with their subscription rate remaining at 0. Additionally, no participation was recorded from employees, which was marked as (N.A). The overall subscription rate stood at 8.73x.

About Broach Lifecare Hospital IPO

Broach Lifecare Hospital Limited, incorporated in 2023, operates boutique hospitals under the Maple Hospitals brand. The organisation offers noninvasive cardiology services, such as treadmill testing, electrocardiography, 2D echocardiography, Holter monitoring, ambulatory blood pressure measurement, stress testing, and dobutamine stress echocardiography, to patients with heart conditions around the clock.

The Broach Lifecare Hospital can accommodate tests with 25 opulent in-patient beds and various diagnostic tools. It also offers premium cardiac care, including life-saving tools like ventilators, beta defibrillators, and intra-aortic balloon pumps.

Highlights of the Broach Lifecare Hospital IPO

  • IPO price band: ₹25 per share.
  • Minimum application lot size: 6000 shares.
  • Minimum investment for retail investors: ₹150,000.
  • Minimum investment for High Net-worth Investors (HNI): 2 lots (12,000 shares), ₹300,000.
  • Registrar: Kfin Technologies Limited.
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