Sangani Hospitals is finalising the basis of the allotment of its shares on Friday, August 11. The initial public offer (IPO) of the Gujarat-based multi-specialty healthcare services provider that comprised a fresh issue of 37.92 lakh shares was subscribed more than 4.5 times due to robust demand.

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The IPO, priced in the range of Rs 37-40 per unit, was open for subscription from August 4 to August 8. At the upper price band, the company would raise around Rs 16 crore.

Sangani Hospitals is finalising the basis of allotment on Friday and the company will start refunds by August 14. The shares will be listed on the NSE Emerge, an SME platform, on August 17.

How to check allotment status

Those who had bid for the Sangani IPO can check the allotment status of their application online, through the website of NSE or that of the registrar, Bigshare Services Private Ltd.

How to check allotment status through NSE's website

· Visit the application status page on the NSE website

· Select 'equity' under the 'issue type' field

· Select Sangani Hospitals from the dropdown menu

· Enter the application number

· Enter the PAN and click submit

According to market sources, the grey market premium (GMP) of Sangani Hospitals SME IPO is Re 1 (+/-1) and expected listing price is Rs 41.

GMP is the unofficial price at which the stock is traded in the grey market ahead of listing.

Sangani Hospitals Ltd was incorporated in November 2021 and it operates multispecialty hospitals in Gujarat.

First Published:Aug 11, 2023 10:19 AM IST