Yatharth Hospital shares jump over 11 pc in debut trade

New Delhi, Aug 7 (PTI) Shares of Yatharth Hospital & Trauma Care Services Ltd on Monday jumped over 11 per cent against the issue price of Rs 300 on its first day of trade.

The stock began the trade at Rs 304, a gain of 1.33 per cent, on the BSE.

During the day, it jumped 14.23 per cent to Rs 342.70 before settling at Rs 333.75, up 11.25 per cent at the close.

At the NSE, shares of the company were listed at Rs 306.10, up 2 per cent from the issue price. It later ended at Rs 331.30, up 10.43 per cent.

A total of 15.16 lakh shares of the company were traded at the BSE, and over 2.21 crore shares at the NSE during the day.

The company commanded a market valuation of Rs 2,865.25 crore.

The Initial Public Offering (IPO) of Yatharth Hospital and Trauma Care Services was subscribed 36.16 times on the last day of subscription on July 28.

The Rs 686.55-crore initial share sale had a price range of Rs 285-300 per share.

The company intends to utilise the net proceeds for repayment of debt, funding capital expenditure expenses, funding inorganic growth initiatives through acquisition and other strategic initiatives and for general corporate purposes.

Yatharth Hospital operates and manages private hospitals in and around the national capital (Delhi-NCR).

Meanwhile, the 30-share BSE Sensex ended 232.23 points up at 65,953.48 points on Monday. The NSE Nifty advanced 80.30 points to 19,597.30 points.