Sangani Hospitals was incorporated on November 11, 2021. The Sangani Group is a healthcare organization founded by Ajaykumar Sangani, which began its journey with the establishment of Sangani Hospital in Keshod in the year 2001. In addition to the hospitals, the group also operates two pathology laboratories and two medical stores, located at Keshod and Veraval.
| Bidding Dates |
|---|
| 04 Aug 2023 - 08 Aug 2023 |
| Subscription |
|---|
| 4.36x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,20,000 | 1 | 1 | 3000 | 3.8 M | ₹37 - ₹40 | 72.48 % | ₹140.3 M - ₹151.7 M | RHP DOC |
Sangani Hospitals IPO SUBSCRIPTION STATUS
08 Aug '23Sangani Hospitals IPO overall subscription rate was 4.36 times the total available shares
Sangani Hospitals IPO retail subscription rate was 5.86 times in the retail segment
Sangani Hospitals IPO non-institutional investor subscription rate was 1.42 times in the non-institutional investor category
Sangani Hospitals IPO Qualified Institutional Bidder subscription rate was 10.84 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 45% | 45% | 10% |
08 Aug 2023 (Day 3) | 5.86x | 1.42x | 10.84x |
07 Aug 2023 (Day 2) | 3.19x | 0.75x | 1.32x |
04 Aug 2023 (Day 1) | 1.19x | 0.2x | 1.32x |
Sangani Hospitals FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| FY23 | 14.8 | 156.7 | 22.9 | -97.9 |
| FY22 | 21.9 | 102.8 | 5.9 | -4.5 |
| FY21 | 7.9 | 49.7 | 5.3 | -1.0 |
Sangani Hospitals IPO SUBSCRIPTION STATUS DETAILS
Sangani Hospitals had 3.8 M shares on offer
Sangani Hospitals IPO offer price was in the range ₹37 - ₹40
Sangani Hospitals IPO minimum Investment was ₹120000
Sangani Hospitals IPO issue size was ₹ 140.3 M - ₹ 151.7 M
Sangani Hospitals had a minimum lot size of 3000 Shares per application
Sangani Hospitals NUMBER OF SHARES ON OFFER
Sangani Hospitals IPO IMPORTANT DATES
| Issue Open Date | 04 Aug 2023 |
| Issue close Date | 08 Aug 2023 |
| Allotment Date | 11 Aug 2023 |
| Refund Date | 14 Aug 2023 |
| Demat Account Credit Date | 16 Aug 2023 |
| Listing Date | 17 Aug 2023 |
| Listing on Exchange(s) | NSE |
| Sangani Hospitals Allotment Status | Exchange |
Sangani Hospitals IPO subscription opened on 04 Aug 2023, and closed on 08 Aug 2023
IPO allotment for Sangani Hospitals was finalized on Friday, 11 Aug 2023
IPO listing for Sangani Hospitals was on NSE on Thursday, 17 Aug 2023
Sangani Hospitals IPO LISTING GAINS
| Issue Price (adjusted) | 40.0 |
| Listing Open Price | 44.0 |
| Listing Close Price | 41.9 |
| Listing Gain% | 10.0% |
| Current Gain% | 12.5% |
Sangani Hospitals Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sangani Hospitals Ltd. | 45 | 62 | 11.2 | 0.1 | 0.6 | 13.6 | 4.9 | 107.6 | 371.9 | 5.6 | 114.2 | 4 | 114.2 |
| Apollo Hospitals Enterprise Ltd. | 8945 | 128615.4 | 66.2 | 1.9 | 5.1 | 20.5 | 8.7 | 25420.1 | 15.6 | 1941.7 | 34.3 | 135 | 34.3 |
| Max Healthcare Institute Ltd. | 1070 | 104140.3 | 72.2 | 2.1 | 12.4 | 13.4 | 8.4 | 8536.1 | 18.8 | 1442.4 | 34.1 | 14.8 | 34.1 |
| Manipal Health Enterprises Ltd. | 678 | 89176 | 10.6 | 3.6 | 10520.5 | 25.8 | 892.3 | -16.2 | |||||
| Fortis Healthcare Ltd. | 955.2 | 72109.8 | 68.8 | 3.3 | 7.6 | 10.5 | 6.5 | 9178.5 | 16.9 | 1041.8 | 34.6 | 13.9 | 20.7 |
| Aster DM Quality Care Ltd. | 869.7 | 45061 | 141.4 | 882.1 | 9.2 | 8.5 | 4.8 | 4768.8 | 11.2 | 388.1 | -92.8 | 6.2 | 0.2 |
Sangani Hospitals INFORMATION ON IPO ISSUE
About Sangani Hospitals
Sangani Hospitals was incorporated on November 11, 2021. The Sangani Group is a healthcare organization founded by Ajaykumar Sangani, which began its journey with the establishment of Sangani Hospital in Keshod in the year 2001. In addition to the hospitals, the group also operates two pathology laboratories and two medical stores, located at Keshod and Veraval.
Object of the Issue
- To carry out the capital expenditure for expansion in Sangani Hospital at Keshod, Gujarat
- To carry out the capital expenditure for expansion in Sangani Super Speciality Hospital at Veraval, Gujarat
- General corporate purposes
Sangani Hospitals - PROMOTERS
| Name |
|---|
| Ajaykumar Sangani |
| Rajeshkumar Sangani |
| Kamalkumar Sangani |
| Vaishali Sangani |
Sangani Hospitals Lead Manager to the Issue
Unistone Capital Private Limited
mb@unistonecapital.com
Sangani Hospitals Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Sangani Hospitals Strengths
‘Doctor-led’ hospitals
The company is a 'Doctor-led' hospital, guided by skilled and experienced doctors in the healthcare industry
Focus on under-served areas with dense population
The company's hospitals, pathology laboratories, and medical stores are strategically located in densely populated and underserved areas, including Keshod and Veraval
Growth opportunities
The company's strength lies in its ability to leverage its land space and diversify into new services
Sangani Hospitals Risks
Dependent on two hospitals
A significant portion of the revenue is currently generated from two hospitals: Sangani Hospital, Keshod, and Sangani Super Speciality Hospital, Veraval. Any material impact on the revenue from these hospitals will affect the business
Limited operating history
The company has a limited operating history, and as a result, investors may not be able to assess the prospects solely based on historical results
Faces competition
The company faces competition from other hospitals and healthcare facilities. If it is unable to compete effectively, the business and results of operations may be materially and adversely affected
IPO FAQs
The promoters of the company are Ajaykumar Sangani, Rajeshkumar Sangani, Kamalkumar Sangani and Vaishali Sangani.
The category allocation of qualified institutional buyers is 10.0%, the category allocation of non individual investors or high networth individuals is 45.0% and for retail investors it is 45.0%.
The price band of the IPO is Rs 37.0 - 40.0.
The IPO application opens on Aug 04, 2023 and closes on Aug 08, 2023.
The minimum lot size for the IPO is 3000. The maximum lot size for the IPO is 3000.
For all category investors, the minimum application amount for this IPO is Rs. 120,000.0, the maximum value for this IPO is Rs 120,000.0.
This IPO will be allotted on Aug 11, 2023.
The refund will be credited to your account on Aug 14, 2023.
The allotted shares will be credited to your demat on Aug 16, 2023.
Sangani Hospitals Ltd.’s shares listed on the stock exchanges on Aug 17, 2023.