Asarfi Hospital IPO to open on July 17; to list on BSE SME

New Delhi (India), July 15: The initial public offering (IPO) of Asarfi Hospital is scheduled to open on July 17. The public issue will remain open till July 19 for bidding.

The shares of the company will be listed on BSE SME, a platform for small and medium enterprises, the company said in a statement.

The initial share sale comprises entirely a fresh issue of 51.80 lakh equity shares, aggregating up to Rs 26.94 crore. The Company is offering its equity shares at a price band of Rs 51-52. Investors can bid for 2,000 shares in one lot.

Hem Securities Limited is the Book Running Lead Manager to the public issue, while Cameo Corporate Services is the Registrar.

The shares allotment will be finalised on July 24, and the listing will take place on July 27. 

Asarfi Hospital is a 250 bedded multi-speciality hospital with 23 departments. It has 70 doctors and, 242 nursing staff & 481 other staff. Its top revenue-generating Specialties are Cardiology, Neurosciences, General Medicine, Paediatrics & Obstetrics.  

The Hospital has been serving people for over 15 years in Dhanbad in the eastern state of Jharkhand.

ARPOB (Average revenue per occupied bed) of Rs 20,068 with an Average bed occupancy rate of 65% and an average length of stay of 4 days in FY23, the company said in a statement.

It added that a new 50 bedded dedicated Cancer Hospital is currently under construction in Dhanbad.

Also, a Health Management & Research Institute is proposed in Ranchi, Jharkhand, for which land has been allotted by the Ranchi Smart City Corporation Ltd., a Government of Jharkhand undertaking.

In FY23, the company achieved revenue from operations of Rs 70.7 crore with EBITDA of Rs 13.77 crore and PAT of Rs 8.01 crore. 43% of Revenue was earned by Cardiology & Neurosciences Departments.

If you have any objection to this press release content, kindly contact pr.error.rectification[at]gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.