Broach Lifecare Hospital IPO: Open/Close Date, Price, Lot Size, Allotment & Subscription

Q: When will Broach Lifecare Hospital Ltd's IPO open for subscription?

The IPO subscription window will open on August 13, 2024 .

IPO Details

Bidding Dates

13 Aug '24 - 16 Aug '24

Minimum Investment

₹1,50,000 / 1 Lot (6,000 Shares)

Price Range

₹25

Maximum Investment

₹1,50,000 / 1 Lot (6,000 Shares)

Retail Discount

To be announced

Issue Size

₹4.02 Cr

Investor category and sub category

Qualified Institutional Buyers | Retail Individual Investors | Non-institutional Investor |

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Open Date

Aug 13, 2024

IPO Close Date

Aug 16, 2024

Basis of Allotment

Aug 19, 2024

Initiation of Refunds

Aug 20, 2024

Credit of Shares to Demat

Aug 20, 2024

Listing Date

Aug 21, 2024

Cut-off time for UPI mandate confirmation

Aug 16, 2024

About Broach Lifecare Hospital Ltd

Incorporated in 2023, Broach Lifecare Hospital Limited operates boutique hospitals under the brand name "Maple Hospitals." The company offers dedicated 24-hour services to patients with heart ailments, providing a range of non-invasive cardiology services such as 2D Echocardiography, Electrocardiography, Treadmill Tests, Holter monitoring, Ambulatory Blood Pressure Measurement, Stress tests, and Dobutamine Stress Echocardiography.

Located in Bharuch, the hospital features 25 ultra-luxury in-patient beds and is equipped with advanced diagnostic devices for various tests. It also provides high-end coronary care and life-saving equipment, including Intra-aortic Balloon Pump Machines, Biphasic Defibrillators, and Ventilators, ensuring comprehensive care for heart patients.

Maple Hospitals are NABH-certified as small primary-level healthcare organisations, reflecting their commitment to quality healthcare services. The hospitals have also received certification from the Atomic Energy Regulatory Board for the PACS System and a fire safety certificate from local regulatory bodies to ensure patient safety. Additionally, they are a member of Globe Bio Care for biomedical waste disposal, emphasising their commitment to environmental responsibility.

As of August 2024, Maple Hospitals are affiliated with 4 PSU insurance companies, 15 private insurance companies, and 8 third-party administrators (TPAs), enhancing their accessibility and patient support. As of March 31, 2024, Broach Lifecare Hospital Limited employs 19 dedicated staff members, ensuring personalised and attentive care for all patients.

Industry Outlook:

The Indian medical tourism market is projected to grow from US$ 2.89 billion in 2020 to US$ 13.42 billion by 2026.
In FY19, India attracted 697,300 foreign tourists for medical treatment, comprising nearly 7% of all international tourists.

Broach Lifecare Hospital Ltd IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

Purchase of Machineries;
Development of Medical Tourism Web Portal; and
General corporate purposes.

Peer Details

The companies considered by Broach Lifecare Hospital as its peers include:

Family Care Hospitals Limited
KMC Speciality Hospitals (India) Limited
Global Longlife Hospital and Research Limited

How To Check the Allotment Status of the Broach Lifecare Hospital Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

Log in to the Angel One app.
Go to the individual order details page of the IPO that you had applied for.
Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.

Contact Details of Broach Lifecare Hospital Limited

Registered office: 501, 5th Floor, Corporate House, above Bharuch Orthopedic Hospital, R K Casta, Bharuch, Gujarat-392001, India

Phone: +91 94291 87226

E-mail: info@maplehospital.in

IPO Financials

Particulars	Year ending on March 31, 2024	Year ending on March 31, 2023	Year ending on March 31, 2022
Revenue From Operations (in ₹ lakh)	260.58	181.57	339.17
Profit After Tax (PAT) (in ₹ lakh)	69.76	13.85	45.91
Cash & Cash Equivalents (in ₹ lakh)	7.34	20.01	7.06
Net Worth (in ₹ lakh)	546.92	216.33	225.14
Debt to Equity Ratio(x)	0.00	2.74	1.13
Return on Equity (%)	12.76%	6.40%	20.39%
Return on Capital Employed (RoCE) (%)	17.09%	5.77%	21.42%
Earning Per Share (EPS)-in absolute ₹	1.92	N.A.	N.A.

Know before investing

Strengths

Broach Lifecare Hospital provides comprehensive cardiovascular services with expert medical staff.
The hospital is strategically located near Bharuch and Ankleshwar industrial belt, Gujarat.
It is empanelled with 4 PSU insurers, 15 private insurers, and 8 TPAs.
As of June 2024, the hospital has 8 consulting doctors and 10 visiting consultants.
The management team is experienced, with the promoter having 10 years in healthcare.
The hospital plans to add Cath Lab machines and medical tourism software.

Risks

Limited operating history makes evaluating future prospects difficult for investors.
High dependence on doctors and healthcare professionals for operations.
Significant reliance on promoters with over 15 years of experience.
Operations concentrated in Bharuch and Ankleshwar, Gujarat, increasing local risks.
Revenue is heavily dependent on interventional cardiac services.
Loss of major insurance and TPA tie-ups could impact revenue.