Dhanbad-based Asarfi Hospital, a 250-bed multi-specialty healthcare facility, is set to embark on its Initial Public Offering (IPO) on Monday, July 17th. The hospital aims to raise Rs 26.94 crore through the primary route, offering its shares at a price range of Rs 51-52 apiece. The IPO subscription period will span three days, concluding on Wednesday, July 19th.
The IPO comprises the sale of 51.80 lakh fresh equity shares, with a lot size of 2,000 equity shares. At the upper range of the price band, a single lot of Asarfi Hospital will cost investors Rs 1.04 lakh. Retail investors can bid for only one lot, while non-institutional investors are required to bid for a minimum of two lots or 4,000 equity shares.
The funds raised from the IPO will be utilized for several purposes, including capital expenditure for the Cancer Hospital in Ranguni, Jharkhand, acquisition of a leasehold basis for the Health Management and Research Institute in Ranchi, Jharkhand, and general corporate requirements.
Hem Securities has been appointed as the sole book running lead manager for the public issue, while Cameo Corporate Services will serve as the registrar to the issue. The company expects to list on the BSE’s SME platform, tentatively scheduled for July 27th, 2023.
Asarfi Hospital, located in Dhanbad, boasts 23 departments, 70 doctors, 242 nursing staff, and 481 other employees. Its top revenue-generating specialties include cardiology, neurosciences, general medicine, pediatrics, and obstetrics.
According to a statement released by the company, the average revenue per occupied bed in FY23 stood at Rs 20,068, with an average bed occupancy rate of 65 percent and an average length of stay of four days. Furthermore, the hospital revealed plans for the construction of a 50-bed dedicated Cancer Hospital in Dhanbad.
The IPO launch of Asarfi Hospital signifies a significant milestone for the healthcare provider, enabling it to raise capital for expansion and further enhancement of its services. Investors interested in participating in the IPO are advised to carefully review the details and consider the potential growth prospects of Asarfi Hospital as it moves towards listing on the stock exchange.
The net proceeds generated from the IPO will be strategically utilized by Asarfi Hospital. The funds will primarily go towards the capital expenditure of their Cancer Hospital in Ranguni, Jharkhand. Additionally, the hospital plans to acquire and leasehold a Health Management and Research Institute in Ranchi, Jharkhand. The remaining funds will be allocated for general corporate purposes, supporting the hospital’s ongoing operations and future developments.
To ensure the successful execution of the IPO, Asarfi Hospital has appointed Hem Securities as the sole book running lead manager. Furthermore, Cameo Corporate Services has been entrusted with the role of registrar to the issue. Asarfi Hospital plans to list its shares on the SME (Small and Medium Enterprises) platform of the Bombay Stock Exchange (BSE). The tentative date for the listing is set for July 27th, 2023.
Asarfi Hospital, with its 250-bed capacity and 23 specialized departments, offers a comprehensive range of medical services. The hospital boasts a dedicated team of 70 doctors, 242 nursing staff, and 481 other staff members, all committed to providing top-notch healthcare to their patients. The hospital’s revenue is predominantly generated through specialties such as cardiology, neurosciences, general medicine, pediatrics, and obstetrics.
The hospital’s strong financial performance further underscores its potential for growth. As reported by the company, the average revenue per occupied bed in the fiscal year 2023 amounted to Rs 20,068. With an average bed occupancy rate of 65 percent and an average length of stay of four days, Asarfi Hospital demonstrates a healthy operational track record.
Looking towards the future, Asarfi Hospital has ambitious plans to construct a dedicated Cancer Hospital with 50 beds in Dhanbad. This expansion project will significantly enhance the hospital’s capabilities and enable it to provide specialized care to cancer patients in the region.
The IPO of Asarfi Hospital presents a unique investment opportunity in the healthcare sector. Interested investors are advised to carefully review the IPO’s details and consider the hospital’s growth potential, financial performance, and its commitment to delivering high-quality healthcare services. Asarfi Hospital’s IPO is poised to propel the institution towards its next phase of development and further establish its position as a leading healthcare provider in the region.
