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Yatharth Hospital IPO

  • Status: Closed
  • RHP:
  • ₹ 14,250 / 50 shares

    Minimum Investment

IPO Details

  • Open Date

    26 Jul 2023

  • Close Date

    28 Jul 2023

  • IPO Price Range

    ₹ 285 to ₹ 300

  • IPO Size

    ₹ 686 Cr

  • Listing Exchange

    NSE

  • Listing Date

    07 Aug 2023

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IPO Timeline

Yatharth Hospital IPO Subscription Status

Last Updated: 02 August 2023 1:16 PM by rahul_raskar

Yatharth Hospital and Trauma Care Services Limited is all set to open from 26th July to 28th July 2023. Yatharth Hospital is a multi-core hospital chain. The IPO includes a fresh issue worth ₹4,900.00 million and an Offer-for-Sale (OFS) of 6,551,690 Equity Shares. The share allotment date is 2nd August, and the IPO will be listed on 7th August on the stock exchanges. The price band is ₹ 285 to ₹ 300, and the IPO size is 50 shares.   

Intensive Fiscal Services Private Limited, Ambit Private Limited, and IIFL Securities Limited are the book-running lead managers for this IPO, while Link Intime India Private Limited is the registrar. 

Objectives of Yatharth Hospital IPO

Yatharth Hospital plans to utilize the raised capital from IPO to:

1.    Partial repayment or prepayment of borrowings obtained by the Company.
2.    Partial repayment or prepayment of borrowings obtained by the Subsidiaries, specifically AKS Medical & Research Centre Private Limited and Ramraja Multispeciality Hospital & Trauma Centre Private Limited.
3.    Financing the capital expenditure for the Company's two hospitals, namely, Noida Hospital and Greater Noida Hospital.
4.    Financing the capital expenditure for the respective hospitals operated by the Subsidiaries, AKS and Ramraja.
5.    Financing expansion initiatives through acquisitions and other strategic actions.
6.    General corporate purposes.
 

Yatharth Hospital IPO Video:

 

Founded in  2008, Yatharth Hospital is among the top 10  largest private hospitals in Delhi NCR in terms of bed capacity in FY23, with a total of 1,405 beds. The hospital group operates 3 super specialty hospitals in the region of Noida, Greater Noida, and Noida Extension, Uttar Pradesh. Additionally, they recently acquired a 305-bedded multi-specialty hospital in Orchha, Madhya Pradesh, near Jhansi, Uttar Pradesh. 

Among their hospitals, the Yatharth Hospital Noida Extension facility stands out as one of the largest hospitals in the Noida Extension, Uttar Pradesh region, boasting 450 beds. The hospital prides itself on delivering quality care and has received a "5 Star" rating for its services from Infomerics Analytics and Research Private Limited in 2022 across all their locations in Noida, Greater Noida, and Noida Extension, Uttar Pradesh.

The hospital chain provides a great range of healthcare services, spanning across 30 different specialties and super specialties. Among these offerings, they have established 10 Centers of Excellence, each dedicated to specific areas such as Medicine, Cardiology, Neurosciences, General Surgery, Nephrology & Urology, Paediatrics, Gastroenterology, Pulmonology, Gynaecology, and Orthopaedics & Spine & Rheumatology, in addition to various other specialized fields.

As of March 31, 2023, Yatharth Hospital has a network of 609 doctors, with 267 being consultant doctors, 178 resident medical officers, and the rest 164 being visiting doctors.

Peer Comparison
●    Apollo Hospitals Enterprise Limited
●    Narayana Hrudalaya Limited
●    Fortis Healthcare Limited
●    Max Healthcare Institute Limited
●    Healthcare Global Enterprises Limited
●    Krishna Institute of Medical Sciences Limited
●    Global Health Limited

For More Information:
Yatharth Hospital IPO Allotment Status
Webstory on Yatharth Hospital IPO
Yatharth Hospital IPO GMP

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY22 FY21
Revenue 5202.93 4009.37 2286.74
EBITDA 4354.22 3394.80 2010.66
PAT 657.68 441.62 195.88 
Particulars (in Rs. Crores) FY23 FY22 FY21
Total Assets 4859.66 4260.23 3087.71
Share Capital - - -
Total Borrowings 3030.02 3091.38 2280.88
Particulars (in Rs. Crores) FY23 FY22 FY21
Net cash generated from / (used in) operating activities 637.84 599.35 436.73
Net cash from / (used in) investing activities -203.10 -521.75 -212.38
Net cash flow from / (used in) financing activities -177.48 -11.24 -190.50
Net increase (decrease) in cash and cash equivalents 257.25 66.37 33.85

Strengths

1.    For FY23, Noida Extension Hospital and Greater Noida Hospital were reported to be the 8th and 10th largest private hospitals in the Delhi NCR in terms of the number of beds they provide, according to the CRISIL Report.
2.    Its range of healthcare services spans from primary to tertiary levels, making the hospital chain a comprehensive one-stop destination for meeting all patient needs in their specific micro markets.
3.    Yatharth Hospital has a diverse revenue portfolio that stems from various customer segments, including government bodies like ESIC, EGHS, and ECHS, as well as public and private insurance companies, institutions, corporations, and walk-in customers.
4.    The hospital chain has a stable operating and financial performance. This success is attributable to its robust operational efficiency achieved through optimizing clinical and administrative functions, continual process innovations, and maintaining economies of scale.
5.    Its future plans seem promising with new specialties at their existing hospitals, such as adding radiation therapy to the oncology department at the Noida Extension and Jhansi-Orchha locations.
6.    The hospital chain has a strategic location in proximity to the proposed Noida International Airport enhances accessibility for medical tourists seeking services.
 

Risks

1.    The Offer Price, the market capitalization to revenue multiple, the price-to-earnings ratio, and the EBITDA based on the Offer Price of the hospital chain may not accurately reflect the market price upon listing or in the future.
2.    Its high fixed cost can have an adverse impact on the bottom line. 
3.    The subsidies have reported losses in the past, which can repeat. 
4.    Its operational activities are centered around the Delhi NCR area for now.
5.    A considerable part of the funds raised from the new share issuance is designated for the Jhansi-Orchha Hospital, which remained inactive from Fiscal 2020 to Fiscal 2022 and faced financial losses in Fiscal 2023.
6.    The business could be negatively impacted, both financially and operationally, if the hospital chain fails to obtain or renew approvals, licenses, registrations, and permits in a timely manner or if it is unable to obtain them at all. 
7.    Its business operations depend on obtaining financing from banks or financial institutions. If the hospital chain cannot secure additional financing on favorable terms or at all, it could negatively affect the overall financial condition.
8.    The business could be negatively impacted by government-imposed price restrictions, especially in situations like during the COVID-19 pandemic.
 

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FAQs

The minimum lot size of Yatharth Hospital IPO is 50 shares, and the investment required is ₹14,250.

The price band of the Yatharth Hospital IPO is ₹285 to ₹300. 

Yatharth Hospital IPO is open from 26th July to 28th July 2023.
 

The size of the Yatharth Hospital IPO is ₹686 Cr. 

The allotment date of Yatharth Hospital IPO is the 2nd of August.

The Yatharth Hospital IPO will be listed on the 7th of August.

Intensive Fiscal Services Private Limited, Ambit Private Limited, and IIFL Securities Limited are the book-running lead managers for Yatharth Hospital IPO. 

Yatharth Hospital plans to utilize the raised capital from IPO to:

●    Partial repayment or prepayment of borrowings obtained by the Company.
●    Partial repayment or prepayment of borrowings obtained by the Subsidiaries, specifically AKS Medical & Research Centre Private Limited and Ramraja Multispeciality Hospital & Trauma Centre Private Limited.
●    Financing the capital expenditure for the Company's two hospitals, namely, Noida Hospital and Greater Noida Hospital.
●    Financing the capital expenditure for the respective hospitals operated by the Subsidiaries, AKS and Ramraja.
●    Financing expansion initiatives through acquisitions and other strategic actions.
●    General corporate purposes.
 

To apply for Yatharth Hospital IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for Yatharth Hospital IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    
●    You will receive a mandate notification to block funds in your UPI app.