Aashka Hospitals Ltd. (AHL) engaged in the health care servicing segment is coming out with a maiden IPO of 8,400,000 equity shares of Rs. 10 each with a fixed price of Rs. 121 per share to mobilize Rs. 101.64 cr. The issue comprises of fresh equity issue of 5400000 shares (Rs. 65.34 cr.) and an Offer for Sale (OFS) of 3000000 shares (Rs. 36.30 cr.). The issue opened on August 10, 2021, and will close on extended date August 18, 2021. The minimum application to be made is for 1000 shares and in multiples thereon, thereafter. Post allotment, shares will be listed on BSE SME. The issue is solely lead managed by Fedex Securities Ltd. while Accurate Securities & Registry Pvt. Ltd. is the registrar to the issue. Rikhav Securities Ltd. is the market maker for this issue.
AHL is a part of Ayushman Bharat, a flagship scheme of the Government of India which was launched and recommended by the National Health Policy 2017, to achieve the vision of universal health coverage. It has an aggregate bed capacity of 140 beds extendable up to 200 beds. As of April 30, 2021, the company has conducted an aggregate of over 4,900 surgeries and provided healthcare services to an aggregate of over 65000 patients, consisting of 18000 indoor patients and 47,000 OPD patients.
According to Mr. Bipin Shah, Chairman and MD, Aashka Hospitals Ltd, “The main objectives of the issue are expansion, funding inorganic growth initiatives and for general corporate purposes”. There are so many reasons that we decided to go public, the one reason is to expand and scale up the operations by raising capital through this offer. Other reasons being improving the credibility of the company and give company a greater market visibility.
Mr. Shah added,”We have been Investing significantly in the technology, equipment and infrastructure required to perform the most advanced procedures and to strengthen specialty focus.Secondly India is a very large healthcare market having very strong growth prospects and also offers significant growth opportunities for medical tourism.” The company is also focussing on Capacity addition by setting up
hospitals in Tier II & Tier III towns of Gujarat and making present facility as multi-speciality anchor hospital in next two years. Adding 35 hospitals with 25 to 50 beds each in the next 2 years. All These factors will help excel in the field and also get an edge among the peer companies.