Broach Lifecare Hospital IPO Surges 20x on Day 2: Retail Investors Lead the Charge – Check GMP and More

The Broach Lifecare Hospital IPO, which opened on August 13 and will close on August 16, has been a hit among investors, especially retail ones. Priced at ₹25 per share, each having a face value of ₹10, investors can bid for a minimum of 6,000 shares and multiples thereof.

About Broach Lifecare Hospital

Broach Lifecare Hospital, established in 2023 and operating under the name “Maple Hospitals,” runs boutique hospitals. Located in Bharuch, the hospital provides round-the-clock non-invasive cardiology services such as treadmill tests, electrocardiography, 2D echocardiography, stress testing, dobutamine stress echocardiography, ambulatory blood pressure measurement, and Holter monitoring. The hospital features 25 luxurious in-patient beds and is equipped with advanced diagnostic equipment and life-saving devices like ventilators, defibrillators, and intra-aortic balloon pumps, offering top-notch cardiac care.

Subscription Status

On the second day, the IPO was subscribed 20 times. The retail segment was particularly active, subscribing 36.09 times, while the non-institutional investor (NII) portion was booked 3.91 times. By 12:39 IST, the company received bids for 3,04,74,000 shares against the 15,24,000 shares on offer.

IPO Details

The IPO is valued at ₹4.02 crore, involving a fresh issuance of 1,608,000 equity shares. Unlike some IPOs, there is no “offer for sale” in this one. The company plans to use the raised funds for general corporate purposes, setting up a medical tourism web portal, and purchasing new machinery.

Management and Market Players

The promoters of the company are Dr. Jaykumar Narendra Vyas, Dr. Shachi Jaykumar Vyas, and Mrs. Dhyuti Krupesh. Fedex Securities Pvt Ltd is the book-running lead manager for this IPO, and Kfin Technologies Limited is the registrar. Aftertrade Broking is acting as the market maker.

Grey Market Premium

Currently, the grey market premium (GMP) for Broach Lifecare Hospital IPO is ₹0, indicating that shares are trading at their issue price of ₹25 without any premium or discount. The GMP reflects investors’ willingness to pay above the issue price, a common barometer for IPO demand.