Tata Healthcare Fund to buy 10.8% stake in Sakar Healthcare

Sakar Healthcare shares are one of the multibagger stocks that Indian stock market has delivered in stock market rebound during post-Covid recovery. In near three years, Sakar Healthcare share price has ascended from around ₹50 apiece levels to ₹272 apiece levels, delivering to the tune of 450 per cent return to its positional long term shareholders in this time. However, the company has got a big boost through its preferential offer. In its recently announced preferential issue, Tata Healthcare fund has bought around 10.8 per cent stake in the company. The multibagger stock informed Indian bourses about the development in its latest exchange communication.

Sakar Healthcare share climbs to a new peak
After the outbreak of this stock market news, huge buying interest developed in this small-cap multibagger stock. Sakar Healthcare shares opened upside and went on to hit intraday high of ₹310 apiece on NSE, touching a new life-time high during early morning deals on Friday.

Sakar Healthcare informed Indian stock market exchanges, on the company’s decision to raise nearly ₹60 crore via allotment of over 23 lakh equity shares at an issue price of ₹259.75 per equity share on a preferential basis. Most of the funds via this fund raise would be used to reduce debt and augment capacity addition plans for future growth. Under the preferential allotment, shares will be allotted to Tata Capital Healthcare Fund which post the preferential issue of equity shares own 10.82% stake in the company.

Sakar Healthcare preferential issue details
Informing about Tata Healthcare fund buying stake in Sakar Healthcare, the small-cap company said, “Board has approved the execution of a share subscription agreement dated August 3, 2023 between the Company, Tata Capital Healthcare Fund II (acting through its trustee Tata Trustee Company Private Limited) and the promoters listed in Annexure B (“SSA”)pursuant to which, the Company has agreed to issue 23,09,910 Equity shares as part of the Preferential Issue, subject inter alia to fulfillment of the conditions precedent set out in the SSA.”

The small-cap multibagger stock said, “Subject to the approval of members / shareholders of the Company and such other regulatory/governmental authorities as may be required, the Board has approved to create, offer, issue and allot up to 23,09,910 Equity shares of face value of no/- (Rupees Ten Only) each at an issue price of ~259.75/- per equity shares on a preferential basis through private placement (”Preferential Issue”) to the persons/proposed allottee belonging to Non Promoter Category, in accordance with the provisions of the Companies Act, 2013 and the rules made there under, Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI ICDR Regulations”), SEBI LODR Regulations and on such terms and conditions as maybe determined by the Board.” LiveMint