Yatharth Hospital & Trauma Care raises Rs 120 crore in a pre-IPO transaction.

According to a press release issued by the firm today, Yatharth Hospital & Trauma Care has successfully completed a pre-IPO placement that resulted in the company receiving a funding amount of 1.2 billion rupees. The hospital chain with its headquarters in Noida made an offering of 40 lakh shares at a price of Rs 300 per equity share (this price included a share premium of Rs 290 per equity share).

As part of the Pre-IPO Placement, 20 lakh equity shares with a total value of Rs. 60 crore were distributed to Plutus Wealth Management LLP, and 10 lakh equity shares with a total value of Rs. 30 crore were distributed to Think India Opportunities Master Fund LP. During this time, 333,333 equity shares worth a total of 10 crore rupees were distributed to Vikas Vijaykumar Khemani.

Rosy Blue Diamonds was given 433,334 equity shares, which are valued Rs. 13 crore, and Viraj Russell Mehta was allotted 233,333 equity shares, which are worth Rs. 7 crore. Both of these individuals were among the other recipients of share allocations.

According to the filing with the exchange, the pre-IPO placement was carried out in conjunction with the Book Running Lead Managers (BRLMs) and received approval from both the Board of Directors at its meeting on Wednesday, July 5, 2023 and the shareholders at their extraordinary general meeting held on the same day. Both of these events took place on the same day.

The BRLMs for this issuance are Intensive Fiscal Services Private Limited, Ambit Private Limited, and IIFL Securities Limited.

The company has provided SEBI with a Draft Red Herring Prospectus (DRHP) in preparation for an Initial Public Offering that they intend to launch. As a result of the Pre-IPO placement, the amount of the fresh offering, which was previously set to be up to 610 crores of rupees, has been lowered to 610 crores of rupees. As of right now, the revised size of the fresh issue is up to Rs 490 crore, and there will still be an Offer for Sale (OFS) where shareholders of Promote Group can sell their shareholding in the company totaling up to 6,551,690 equity shares, according to the filing.

The offer to sell up to 6,551,690 equity shares includes up to 3,743,000 equity shares being sold by Vimla Tyagi, up to 2,021,200 equity shares being sold by Prem Narayan Tyagi, and up to 787,490 equity shares being sold by Neena Tyagi as part of the offer.

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