Broach Lifecare Hospital IPO Day 3: Issue subscribed 159 times on high retail demand, check details

Broach Lifecare Hospital IPO subscription closed with huge demand on the third and last day of bidding on Friday, August 16. The BSE SME issue was booked 159.16 times, driven by high demand from retail investors.

The boutique hospital operator's initial public offering (IPO) received bids for more than 24.25 crore shares compared to 15.24 lakh shares on offer.

Retail individual investors applied for over 17.24 crore shares against 7.62 lakh shares set aside for the category, booking the portion 226.32 times.

The issue was subscribed 88.61 times in the Non-Institutional Investors (NIIs) category with applications for 6.75 crore shares against 7.62 lakh shares set aside for the segment.

The IPO received bids for 25.8 lakh shares from qualified institutional buyers (QIBs).

Broach Lifecare Hospital Limited IPO offer size, price band and listing date

The Broach Lifecare Hospital IPO is a fixed-price issue amounting to ₹4.02 crores, with a fresh offering of 16.08 lakh shares.

The price for the IPO has been set at ₹25 per share

The IPO subscription window closed on August 16. The IPO allotment status is likely to be finalised on August 19.

Refunds will be initiated for unsuccessful bidders on August 20 and shares will be credited in the Demat accounts of successful bidders the same day.

Shares of the company are likely to be listed on the BSE SME platform, on August 21.

Broach Lifecare Hospital Limited IPO registrar

Kfin Technologies Limited is the registrar for the Broach Lifecare Hospital IPO.

Fedex Securities Private Ltd serves as the book-running lead manager, and Aftertrade Broking is the market maker for the IPO.

Broach Lifecare Hospital Limited IPO objective

The company intends to use the net proceeds from the issue for several key purposes, including the acquisition of machinery.

Additionally, the net proceeds will be allocated towards the development of a medical tourism web portal, with a substantial portion also designated for general corporate purposes.

About Broach Lifecare Hospital Limited

Broach Lifecare Hospital Limited, established in 2023, operates boutique hospitals under the brand Maple Hospitals, specialising in 24-hour heart care services.

Their Bharuch facility boasts 25 luxury inpatient beds and state-of-the-art diagnostic and life-saving equipment. The hospitals are accredited with NABH certification, Atomic Energy Regulatory Board certification for the PACS System, and a fire safety certificate.

They are affiliated with four PSU insurance companies, fifteen private insurers, and eight TPAs.