IPO Details

Bidding Dates

17 Jul '23 - 19 Jul '23

Minimum Investment

₹104,000 / 1 Lots (2000 Shares)

Price Range

₹51 - ₹52

Maximum Investment

₹104,000 / 1 Lots (2000 Shares)

Retail Discount

Not Applicable

Issue Size

₹26.94 Cr

Investor category and sub category

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

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Jul 17, 2023

IPO Closing Date

Jul 19, 2023

Basis of Allotment

Jul 24, 2023

Initiation of Refunds

Jul 25, 2023

Credit of Shares to Demat Account

Jul 26, 2023

IPO Listing Date

Jul 27, 2023

UPI Mandatory Expiry Date

Jul 19, 2023

IPO Subscription Details


Day 1Jul 17, 2023

3.14 0.64 2.96 2.52

Day 2Jul 18, 2023

3.15 11.13 29.45 18.01

Day 3Jul 19, 2023

50.60 451.62 167.81 195.14

IPO Subscription Status Live

Investor Category Subscription (Times)
Qualified Institutions Buyers 50.60
Non-Institutional Buyers 451.62
Retail Investors 167.81
Total 195.14

About Company

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

Particulars Period ending on March 31, 2023 (₹ lakh) Period ending on March 31, 2022 (₹ lakh) Period ending on March 31, 2021 (₹ lakh)
Total Revenue 7,303.26 6,619.54 5,439.90
Profit After Tax (PAT) 801.53 572.83 353.43
Net Worth 4,184.26 2,262.73 1,689.90
Earnings Per Share 7.58 7.64 4.71
Total Borrowings 1,720.20 1,163.31 713.36

Know before investing


  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.


  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.

  • How to Apply in IPO
  • How to Check IPO Allotment Status

Login to Angel One App / Website & click on IPO

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Enter UPI ID, set quantity/price & submit

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Choose IPO section on Home Page

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Asarfi Hospital Ltd IPO FAQs

What is Asarfi Hospital Limited's IPO?

The Asarfi Hospital Ltd IPO contains 100% fresh IPO worth ₹26.94 crore. The issue comprises 51,80,000 shares and is priced at ₹51 to ₹52 per share. The IPO will open on July 17, 2023.

When will Asarfi Hospital Limited's IPO be allotted?

The Basis of Allotment will happen on Monday, July 24, 2023.

When will Asarfi Hospital Limited's IPO open for subscription?

The IPO subscription window will open on July 17 2023.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for a minimum of one lot, which consists of 2,000 shares.

When will Asarfi Hospital Limited list on exchanges?

Asarfi Hospital Ltd IPO will list on the BSE exchange on Thursday, July 27, 2023.

How do I check the allotment status of the Asarfi Hospital Limited IPO?

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

  • Log in to the Angel One app
  • Validate with an OTP
  • Enter your application number, DP ID, and PAN number into the app
  • Click on ‘Submit’

What would be the listing gains on the Asarfi Hospital Limited IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange, which is Thursday, July 27, 2023, for Asarfi Hospital Ltd. 

I have finished the application process for the Asarfi Hospital Limited IPO, but the funds still need to be debited. What is the reason?

The bank will only block the amount initially in your account. Under the new system, the money isn’t debited until the stocks are allotted to you. 

How do I approve the UPI mandate request for Asarfi Hospital Limited's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Asarfi Hospital Limited using one PAN?

You can submit only one application using your PAN card.