KRM Ayurveda IPO Day 1: Check subscription status, price band, lot size, key dates and more

KRM Ayurveda IPO: The initial public offering of ayurvedic healthcare institution KRM Ayurveda opened for subscription on Wednesday, January 21. The issue, with a price band of ₹128 to ₹135, will end on Friday, January 23.

The ₹77.49 crore initial share sale is solely a fresh issuance of 57.40 lakh shares with no offer for sale component.

The objectives of the issue include capital expenditure for construction and development of telemedicine operational facilities, loan repayment, purchase of CRM software and hardware infrastructure, human resources, working capital requirements and general corporate purposes.

"Our company believes that listing will enhance our company’s corporate image, brand name and create a public market for its equity shares in India," KRM Ayurveda said in its red herring prospectus.

KRM Ayurveda IPO Day 1: Subscription status

The subscription details will be available post 10 am.

A lot consists of 1,000 shares. The minimum investment for an individual investor is two lots or 2,000 shares.

KRM Ayurveda IPO: Allotment and listing date

The company's shares will be listed on the Emerge platform of the NSE.

NEXGEN Financial Solutions Private Limited is the IPO's book-running lead manager, while Skyline Financial Services serves as the registrar.

About KRM Ayurveda

Established in 2019, KRM Ayurveda operates a network of hospitals and clinics across several cities in India. The company has also marked its presence abroad by means of telemedicine consulting and sales.

Starting off as a kidney hospital, it now treats various health issues, including kidney disorders, diabetes, liver cirrhosis, fatty liver and arthritis.

Its hospitals are equipped with beds, including general wards and premium rooms, herbal pharmacy and medicine preparation unit, panchakarma treatment units, ayurvedic diet kitchen, consultation chambers for Vaidyas (Ayurvedic physicians), and an in-house yoga and meditation hall.

KRM Ayurveda IPO GMP

According to investorgain.com and media reports, KRM Ayurveda's unlisted shares are trading at ₹156, reflecting a grey market premium of 15.56% over the upper price band of ₹135.