New Delhi, Feb. 13 -- The initial public offer (IPO) of Shanmuga Hospital kicked off for subscription on Thursday, February 13, aiming to raise Rs.20.62 crore. The public offer will close for bidding on Monday, February 17.

Shanmuga Hospital IPO is a fresh issue of 38.18 lakh shares priced at Rs.54 apiece. The minimum application for an IPO is 2,000 shares, requiring an investment of Rs.1,08,000 by the retail investors.

The company plans to use the funds raised via the IPO for funding capital expenditure, mainly for the purchase of additional medical equipment and general corporate purposes.

Shanmuga Hospital IPO shares will likely list on Thursday, February 20 on the BSE SME platform.

Shanmuga Hospital IPO was subscribed 0.18 times s...