Asarfi Hospital Ltd IPO

Established in 2005, Asarfi Hospital provides healthcare facilities in Jharkhand. It is a 250 bedded multi-speciality hospital accredited by National Accreditation Board for Testing and Calibration Laboratories (“NABL Accredited”). 

Asarfi Hospital, located at Dhanbad, Jharkhand, has several departments like General Surgery, Neurosciences, Oncology, Cardiology, Pulmonology, Paediatrics & Neonatology, Dental, Nephrology, General Medicine, Obstetrics & Gynaecology, Urology, Gastroenterology, Orthopaedics Plastic Surgery & Cosmetics, ENT, Ophthalmology, Day Care Services, Emergency, Nutrition & Dietetics, Physiotherapy, Radiology, Pain Management, Anaesthesiology & Critical Care, etc. among other healthcare services. They also have a full-fledged Emergency Department, high-dependency unit, Outpatient consultation, ICU, CCU, NICU, SICU, Labor room, etc. 

Asarfi Hospital is associated with several companies and Government agencies like Coal India, Punjab National Bank, and more to provide medical services. It is also in plans to build a cancer hospital and a Health Management and Research Institute at Ranchi. 

Asarfi Hospital Limited IPO Details

Asarfi Hospital is a 100% fresh IPO worth ₹26.94 crore. The issue comprises 51,80,000 shares and is priced at ₹51 to ₹52 per share. Retail investors can bid for the Asarfi Hospital Limited IPO, which will open on July 17, 2023. Asarfi Hospital Limited’s IPO will list on the BSE exchange on July 27, 2023.

Asarfi Hospital Limited IPO Objectives 

The objectives of Asarfi Hospital Limited's IPO are listed below:

• To fund the capital expenditure of the Cancer Hospital at Ranguni, Jharkhand.
• To acquire land on lease for the Health Management and Research Institute at Ranchi.
• To meet the general corporate purposes.

Noteworthy Highlights of Asarfi Hospital Ltd

• Asarfi Hospital Ltd is a multi-speciality hospital in Jharkhand that has several departments and has been in service for more than one and a half decades. 
• They are associated with Government agencies, companies and organisations for providing healthcare facilities to their employees and their dependents.

Peer Details

Asarfi Hospital faces competition from players operating in the same region and localities. Their main competition is from providers who offer secondary and tertiary healthcare services across specialities.

Company Financials

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Strengths

1. The company provides facilities to third-party companies, insurance companies, and Government organisations, which helps them generate a significant portion of revenue.

2. The company has doubled its profit after tax from ₹353.43 on March 31, 2021, to ₹801.53 on March 31, 2023.

Risks

1. The company’s revenue is highly dependent on a single hospital in Jharkhand. Any economic or political changes can impact the business.

2. Previously, the company’s Group Company, Asap Impact Private Limited, has defaulted on the repayment of a loan.