Unihealth Consultancy makes tepid debut on NSE Emerge
Unihealth Consultancy, a healthcare service provider, made a tepid debut on the NSE Emerge platform on September 21, listing at Rs 135, a 2.2 percent premium over its issue price of Rs 132. The stock was trading at Rs 137.30 at 11.40 am.
The Rs 56.55-crore IPO was entirely a fresh issue of 42.84 lakh shares. It was subscribed 18.22 times, with retail investors bidding 24.61 times the quota of shares allotted to them.
Unihealth Consultancy is based out of Mumbai but has operational presence in multiple countries across Africa. Its business segments include medical centers, hospitals, consultancy services, distribution of pharmaceutical and medical consumable products, and medical value travel.
Under UMC Hospitals, the company operates a combined capacity of 200 operational hospital beds across two multi-specialty facilities in Uganda and Nigeria.
In FY23, the company posted revenue of Rs 46.03 crore, up 21 percent from FY22. Net profit doubled to Rs 7.68 crore from Rs 3.82 crore in the same period. However, Unihealth’s FY21 net profit at Rs 5 crore was greater than FY22.
No analyst covered this SME IPO.
Analysis
Unihealth Consultancy’s tepid listing can be attributed to a number of factors, including the current volatile market conditions, the lack of analyst coverage, and the company’s relatively small size and scale. However, the company has a number of positives going for it, such as its strong growth potential, its diversified business model, and its focus on the African market.
Investors who are considering investing in Unihealth Consultancy should carefully consider the company’s fundamentals, the current market conditions, and their own risk appetite before making a decision.
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