Sangani Hospitals IPO: Issue opens; Check latest GMP, subscription status, other key things to know

Sangani Hospitals IPO is an SME IPO that will list on NSE Emerge, a platform for small and medium enterprises (SME). The IPO will remain open for public subscription till August 8.

Sangani Hospitals IPO GMP Today

Sangani Hospitals IPO GMP today, or grey market premium today, is just Re 1, as per topsharebrokers.com. This means Sangani Hospitals shares are trading at a premium of Re 1 in the grey market.

Considering the GMP today and the upper end of the price band, Sangani Hospitals shares are expected to be listed at ₹41 apiece.

Sangani Hospitals IPO has been subscribed 0.05 times so far on day 1. The public issue received bids for 1.71 lakh shares as compared to 37.92 lakh equity shares on the offer, till 10:25 a.m.

Sangani Hospitals IPO is subscribed 0.10 times in the retail category and 0.01 times in the Non-Institutional Investors’ (NII) category so far. Qualified Institutional Buyers (QIB) are yet to place bids.

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Check out key things to know about Sangani Hospitals IPO:

Sangani Hospitals IPO Dates: Sangani Hospitals IPO opened for subscription on Friday, August 4, and will close on August 8, Tuesday. The basis of share allotment is expected to be fixed on August 11 and the company will begin refunds on August 14. Sangani Hospitals shares will be credited to the demat accounts of eligible shareholders on August 16.

Sangani Hospitals IPO Price Band: The company is selling shares in the IPO at a price band of ₹37 to ₹40 per share.

IPO Issue Size: Sangani Hospitals IPO comprises a fresh issue of 37.92 lakh equity shares of face value of ₹10 each. At the upper end of the price band, Sangani Hospitals IPO size is worth ₹15.17 crore.

IPO Lot Size: Sangani Hospitals IPO lot size is 3,000 shares. The minimum investment amount required for retail investors is ₹120,000.

Sangani Hospitals IPO Objective: The company plans to utilise the proceeds from the issue to carry out the capital expenditure for expansions in Sangani Hospital at Keshod and Sangani Super Speciality Hospital at Veraval, in Gujarat and also for general corporate purposes.

Read here: Sangani Hospitals IPO: Issue opens on August 4; Check price band, GMP, other key things to know

IPO Reservation: The company has reserved 45% of the net issue for Non-Institutional Investors (NII) and another 45% of shares for retail investors. Qualified Institutional Investors (QIB) are offered 10% of the net issue.

Sangani Hospitals Promoters: Dr. Ajaykumar Sangani, Dr. Rajeshkumar Sangani, Kamalkumar Sangani and Dr. Vaishali Sangani are the promoters of Sangani Hospitals.

Sangani Hospitals IPO Listing Date: Sangani Hospitals IPO listing is expected to take place on August 17. Sangani Hospitals shares will be listed on NSE Emerge.

Sangani Hospitals IPO Registrar, BRLM: Bigshare Services Pvt Ltd is the IPO registrar, while Unistone Capital Pvt Ltd is the lead manager for Sangani Hospitals IPO.

Sangani Hospitals Financials

Sangani Hospitals reported a net profit of ₹1.48 crore during the period ended March 31, 2023, rising from ₹1.05 crore YoY. 

The company’s revenue during the period ended March 2023 jumped to ₹15.76 crore from ₹4.20 crore, YoY.

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Updated: 04 Aug 2023, 10:32 AM IST