SME IPO: Asarfi Hospital issue to open on July 17. 10 things to know about the offer

The initial public offering (IPO) of Service Care will open for public subscription on July 14. The issue closes on July 18. Here are 10 things to know about the offer.

1) Company Overview
Asarfi Hospital is a 250 bedded multi-specialty hospital, which has been serving people for over one and half decades by providing healthcare services in Dhanbad, Jharkhand.

2) Industry Overview
The Indian healthcare sector is said to have recorded a three-fold rise, growing at a CAGR of 22% between 2016–22 to reach $372 billion. The Indian medical tourism market was valued at $2.89 billion in 2020 and is expected to reach $13.42 billion by 2026.

3) Issue size
The IPO is entirely a fresh equity issue of up to 51.8 lakh equity shares aggregating up to Rs Rs 26.9 crore

4) Price band
The company will offer its shares at a price band of Rs 51-52 apiece, and investors can bid for 2,000 shares in 1 lot.

5) Financial performance
For the year ending March 2023, the company has recorded revenues of Rs 73 crore and net profit of Rs 8.01 crore.

6) Objects of the offer
The net proceeds from the public offer will be used for part funding of capital expenditure, acquiring land on a leasehold basis, and other general corporate purposes.

7) Booking running lead managers
Hem Securities is acting as the lead manager of the issue, while Cameo Corporate Services is the registrar.

8) Issue structure
About 50% of the offer is reserved for qualified institutional buyers, 15% for non-institutional investors, and the rest 35% for retail investors.

9) Important dates
The IPO opens on July 17 and closes on July 19. The final allotment will be made on July 24. The company's shares will likely get listed on July 27.

10) Listing of shares
The company's shares will get listed on the BSE SME platform.