The shares of the multi-specialty hospital gained up to 2 percent from its intraday low after the company signed definitive agreements with the International Finance Corporation (IFC) for fundraising of Rs 3,300 million.
With a market capitalization of Rs 2,549.49 crore, the shares of Artemis Medicare Services Ltd were trading at Rs 187.70 per share, increasing around 0.03 percent as compared to the previous closing price of Rs 187.65 apiece.
According to the exchange filing, Artemis Medicare Services Ltd has signed definitive agreements with the International Finance Corporation (IFC), a member of the World Bank Group, for fundraising of Rs 3,300 million in the form of Compulsorily Convertible Debentures (CCDs).
Additionally, IFC’s investment will help the Company improve healthcare accessibility and quality by supporting its growth plans in bed capacity, introducing newer medical treatment specialties, and establishing cardiac care centers in Tier 2 and 3 cities.
Looking into Artemis Medicare Services’s performance, revenue increased by 9 percent from Rs 181 crore in Q3 FY23 to Rs 210 crore in Q3 FY24. During the same period, net profit increased by 9 percent, from Rs 11 crore to Rs 12 crore.
Artemis operates 713 beds in the Delhi NCR region, including a 541-bed quaternary care super specialty hospital accredited by Joint Commission International and National Accreditation Board of Hospitals and Healthcare Providers, as well as five hospitals under the Artemis Lite and Daffodils brands.
The stock has given a return of 20.63 percent in six months and a multi-bagger return of 173.94 percent in one year. An investment of Rs 1 lakh in the firm yields a return of Rs 2.73 lakh in a Year.
Artemis Medicare Services Ltd operates a healthcare company. AMSL runs a 318-bed multi-specialty tertiary care hospital in Gurgaon. It specializes in a variety of areas, including orthopedics and joint replacement, oncology, cardiology, neurosciences, and bariatric and minimally invasive surgery. AMSL has received NABH accreditation.
Written by:- Abhishek Singh
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