Shanmuga Hospital IPO Day 3: Latest GMP, Subscription Status, Allotment Date And More

The Shanmuga Hospital IPO has been subscribed 1.29 times so far on the final day of bidding on Monday. The SME IPO opened for subscription last week and was fully subscribed on Feb. 14. Shanmuga Hospital, which operates a multispeciality hospital in Tamil Nadu, aims to raise Rs 20.62 crore from the primary market via its IPO. Investors looking to bid in Shanmuga Hospital IPO must check out these key details before taking an investment call:

Shanmuga Hospital IPO has been subscribed 1.95 times as of 1:54 p.m. on Monday, as per Chittorgarh.

• Non-Institutional Investors: 0.44 times

• Retail Investors: 3.45 times

*The subscription status will be updated at regular intervals

The grey market premium on the BSE SME IPO of Shanmuga Hospital Ltd. stood at Rs 3 as of 1:30 p.m. on Feb. 17. According to InvestorGain, shares of the company are projected to make their market debut at a listing price of Rs 57, marking a premium of nearly 5.56% over the issue price.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

• Bidding dates: Feb. 13 to Feb. 17

• Price range: Rs 54

• Minimum investment: Rs 1,08,000

• IPO size: Rs 20.62 crore

• Allotment date: Feb. 18

• Listing date: Feb. 20

• Registrar: Registry Management Services Pvt. Ltd.

Shanmuga Hospital Ltd. is a multispeciality hospital equipped with advanced healthcare technology. It is accredited by the National Accreditation Board for Hospitals & Healthcare Providers and NABL India.  The 151-bed capacity hospital is located in Tamil Nadu's Salem. 

Shanmuga Hospital has proposed to use the net proceeds from the public offer to fund its capital expenditure on the purchase of medical equipment. A portion of the money raised via the IPO will be used for general corporate purposes.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.