In an exciting market development, Sangani Hospitals IPO has marked its debut on the NSE Emerge platform, garnering significant attention. The shares of Sangani Hospitals started trading at ₹44 each, presenting an impressive 10% premium over the IPO’s initial price of ₹40 per share.
Sangani Hospitals, a distinguished multi-specialty healthcare services provider headquartered in Gujarat, has unveiled a promising IPO journey. The subscription data for the period from August 4 to August 8 reveals that the IPO was oversubscribed by an impressive 4.54 times, as reported by the stock exchanges.
The retail segment showcased a remarkable 6.17 times oversubscription, showcasing robust interest from investors. Additionally, the Qualified Institutional Buyers’ (QIB) category witnessed a noteworthy oversubscription of 11.42 times, while the Non-Institutional Investors’ (NII) category displayed healthy interest with an oversubscription of 1.38 times.
Sangani Hospitals IPO: A Closer Look
The Sangani Hospitals IPO comprised a fresh issuance of 37.92 lakh equity shares, each having a face value of ₹10. The IPO was offered within a price band of ₹37 to ₹40 per share, with the upper end of the spectrum valuing the Sangani Hospitals IPO at ₹15.17 crore.
The company has strategic plans for the funds raised through this IPO. The proceeds will be allocated towards expanding Sangani Hospital at Keshod and Sangani Super Speciality Hospital at Veraval, both located in Gujarat. Additionally, the funds will be utilized for general corporate purposes, fostering overall growth.
The driving force behind Sangani Hospitals’ success are its promoters: Dr. Ajaykumar Sangani, Dr. Rajeshkumar Sangani, Kamalkumar Sangani, and Dr. Vaishali Sangani, who have envisioned and steered the organization’s growth trajectory.
The seamless execution of the IPO process was facilitated by Bigshare Services Pvt Ltd, serving as the IPO registrar, while Unistone Capital Pvt Ltd took the lead as the manager overseeing Sangani Hospitals’ IPO.
Sangani Hospitals IPO Allotment and Listing:
On August 11, the IPO allotment for Sangani Hospitals was finalized, setting the stage for the company’s shares to be traded on NSE Emerge. This platform is specifically designed to accommodate the listing of small and medium enterprises (SMEs), creating an ideal environment for Sangani Hospitals to flourish in the market.
Sangani Hospitals’ listing at ₹44 per share is a strong indicator of the market’s confidence in its potential and its ability to create value for its stakeholders. The successful debut sets a positive tone for the future endeavors of Sangani Hospitals within the dynamic healthcare industry.
About Sangani Hospitals:
Sangani Hospitals Limited was established on November 11, 2021, as a publicly traded company. This entity operates under the category of a non-governmental organization and is officially enlisted with the Registrar of Companies in Ahmedabad. The board of directors for Sangani Hospitals Limited includes individuals such as Ajaykumar Natavarlal Sangani, Rajeshkumar Natvarlal Sangani, and Kamalkumar Natavarlal Sangani.
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