Broach Lifecare Hospital IPO: Issue booked over 8 times on Day 1; check details

The initial public offering (IPO) of Broach Lifecare Hospital Ltd. kicked off on a high note on Tuesday, August 13, the first day of bidding. The BSE SME IPO was subscribed over 8.7 times, led by strong demand from retail investors.

The boutique hospital operator's initial public offering (IPO) received bids for more than 1.33 crore shares compared to 15.24 lakh shares on offer.

Retail investors applied for over 1.21 crore shares against 7.62 lakh shares set aside for the category, resulting in an oversubscription of 15.91 times.

Broach Lifecare Hospital IPO was booked 1.55 times in the Non-Institutional Investors category, with applications for 11.82 lakh shares against 7.62 lakh shares set aside for the segment.

Broach Lifecare Hospital IPO offer size, price band, and minimum investment

Broach Lifecare Hospital IPO is a fixed price issue amounting to ₹4.02 crore. The issue includes a fresh offering of 16.08 lakh shares at ₹25 per share.

The minimum lot size for an application in this IPO is 6,000 shares, resulting in an investment of ₹1,50,000. For high-net-worth individuals (HNIs), the minimum lot size is 2 lots or 12,000 shares, amounting to an investment of ₹3,00,000.

Broach Lifecare Hospital IPO dates

The IPO subscription period for Broach Lifecare Hospital Ltd is open from August 13 to August 16. The final allotment status is expected to be announced on August 19.

Shares will be credited to the demat accounts of successful bidders on August 20, along with refunds for those who failed to secure shares in the IPO.

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

Broach Lifecare Hospital IPO registrar

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

Fedex Securities Private Ltd is the book-running lead manager of the Broach Lifecare Hospital IPO, while Aftertrade Broking is the market maker for the IPO.

Broach Lifecare Hospital Limited IPO objective

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

Additionally, money raised will also be used for the development of a medical tourism web portal and general corporate purposes

About Broach Lifecare Hospital Limited.

Broach Lifecare Hospital Limited founded in 2023, operates boutique hospitals under the Maple Hospitals brands. It is affiliated with 4 PSU insurance companies, 15 private insurers, and 8 TPAs.