Established in 2008, Yatharth Hospital and Trauma Care Services Limited is amongst the top 10 largest private hospitals operating around the Delhi NCR region.
The company operates three super specialty hospitals located in Delhi NCR, i.e., at Noida, Greater Noida, and Noida Extension, Uttar Pradesh.
They’ve also acquired a 305-bedded multi-specialty hospital in Orchha, Madhya Pradesh near Jhansi, Uttar Pradesh (“Jhansi-Orchha”) which commenced commercial operations on April 10, 2022, and is one of the largest hospitals in Jhansi-Orchha-Gwalior region in terms of number of beds.
As of March 31, 2023, They have 609 doctors and offer healthcare services across several specialties and super specialties.
|Nephrology & urology||9.1||6.3||6.3|
The Indian healthcare delivery market to have reached approximately ₹ 5.6 trillion in value by end of Fiscal 2023, with growth being contributed by stabilization of regular treatments, surgeries and OPD amid minimization of disruption due to the pandemic and expansion of Average Revenue Per Occupied Bed(ARPOB) for the sector. A potential upside
is also expected from picking up of high realization medical tourism as international travel restrictions are relaxed.
Within the overall healthcare delivery market, the in-patient department is expected to account for nearly 70% (in value terms), while the balance is to be catered by the out-patient department.
Breaching pre-Covid level in Fiscal 2022, CRISIL estimates the Indian healthcare delivery industry to post a 11.3% CAGR between FY 2023 and 2027, driven by long term structural factors, strong fundamentals, increasing affordability and potential of the Ayushman Bharat scheme.
The Rs. 687 crore public offer of Yatharth Hospital and Trauma Care Services Limited comprises a fresh issue of equity shares aggregating up to Rs. 490 crores and an offer for sale of Rs. 197 crores from existing shareholders.
|Purpose||Proceeds (₹ crores)|
|Funding capital expenditure requirements of the Company subsidiaries, AKS and Ramraja||107|
|Repayment of subsidiaries, AKS and Ramraja’s Debt||145|
|Capital expenditure of two hospitals||26|
|Repayment of certain borrowings of the company||100|
|General corporate purposes||Balance|
|Financial Year||Total Assets (₹ crores)||Total Revenue (₹ crores)||Profit After Tax (₹ crores)||EBITDA (₹ crores)|
|March 31, 2021||309||229.2||19.6||67|
|March 31, 2022||426||402.6||44.2||110.8|
|March 31, 2023||486||523.1||65.8||133.8|
|Company||Operating Income(₹ crores)||PE Ratio||EPS|
|Yatharth Hospital Ltd.||520||NA||10.09|
|Apollo Hospitals Ltd.||16612.5||89.44||56.97|
|Fortis Healthcare Ltd.||6297.6||40.36||7.8|
|Narayana Health Ltd.||4525||33.29||29.85|
Risk in fund allocation: Significant portion of Net Proceeds from the Fresh Issue is earmarked for Jhansi-Orchha Hospital, which was non-operational from Fiscal 2020 until Fiscal 2022 and incurred losses in Fiscal 2023.
Dependency on Key persons: Company is dependent on a number of key personnel, including Promoters and senior management, and the loss of or our inability to attract or retain such persons could adversely affect business.
One off COVID Income: Company derived 33.17%, and 22.19% of their revenue from operations in Fiscal 2021 and 2022 from COVID-19 which they may not continue to earn in future.
Competitive sector: Company faces competition from other hospitals, pharmacies and other healthcare services providers.
Highly regulated industry: Being in the highly regulated industry, and being compliant with applicable safety, health, environmental and other governmental regulations, any violations of existing regulations may adversely affect our business, financial condition, results of operations and cash flows.
Regulatory reforms: Regulatory reforms in the healthcare industry and the uncertainty associated with pharmaceutical pricing and other matters could adversely affect the business, results of operations and cash flows.
Share issued below offer price in the last 12 months: Company issued 4 million Equity Shares at price that may be lower than the Offer Price in the last 12 months.
|Issue Period||26th July to 28th July 2023|
|Price Band||₹ 285 - 300|
|Minimum Bid Quantity||50 and multiples thereof|
|Deadline for accepting UPI mandate||Until 5 PM on the issue closing day|
|Finalization of Allotment||2nd August 2023|
|Initiation of Refunds||3rd August 2023|
|Credit of Shares||4th August 2023|
|Date of Listing||7th August 2023|
|Mandate end date||12th August 2023|
|Anchor Investors Lock-In End Date||27th August 2023|
You can apply for the Yatharth Hospital & Trauma Care Services Limited IPO using any supported UPI app by following two steps:
- Enter your bid on Kite
- Accept the UPI mandate on your phone
On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.
You can check the allotment status for the Yatharth Hospital & Trauma Care Services Limited IPO on the website of the Registrar and Transfer agent. Alternatively, you can also check the allotment status on the NSE website.