Broach Lifecare Hospital Ltd Shares Surge 90% On BSE SME Debut

2024-08-21 02:26:34

(MENAFN- KNN India) New Delhi, Aug 21 (KNN) Broach Lifecare Hospital Ltd made a strong debut on the BSE SME platform on August 21, with its shares opening at Rs 47.5, marking a 90 per cent premium over the issue price of Rs 25 per share.

The company's Initial public offering (IPO) raised Rs 4.02 crore, consisting entirely of a fresh issue of 16.08 lakh shares priced at Rs 25 each.

The IPO, which opened for bidding on August 13 and closed on August 16, saw an overall subscription rate of 159 times. The retail investor segment was notably oversubscribed by 226 times.

Retail investors were required to make a minimum investment of Rs 1.5 lakh for 6,000 shares, while High Net Worth Individuals (HNIs) needed to invest at least Rs 3 lakh for 12,000 shares.

The book-running lead manager for the IPO was Fedex Securities Pvt Ltd, with Kfin Technologies Ltd serving as the registrar.

Incorporated in 2023, Broach Lifecare Hospital Ltd operates boutique hospitals specialising in advanced cardiology services.

The company's flagship facility in Bharuch features 25 ultra-luxury in-patient beds and state-of-the-art diagnostic equipment, including intra-aortic balloon pumps, biphasic defibrillators, and ventilators.

The proceeds from the IPO are intended for the acquisition of new medical machinery, the development of a web portal focused on medical tourism, and covering general corporate expenses.

(KNN Bureau)

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