Yatharth Hospital & Trauma Care Services has raised Rs 120 crore from five investors in a pre-IPO placement round, reducing the fresh issue size of the upcoming initial public offering. The Noida-based hospital chain offered 40 lakh shares at Rs 300 apiece.Plutus Wealth Management LLP, which invested Rs 60 crore, and Think India Opportunities Master Fund LP, which bought shares worth Rs 30 crore, emerged as the biggest investors among the five, reports said. The shares were allotted on July 6.Also read: Utkarsh Small Finance Bank sets IPO price band at Rs 23-25 per shareAfter the pre-IPO placement, approved by the board of directors and shareholders on July 5, the super- speciality hospital chain reduced its fresh issue size of the initial public offering (IPO) to Rs 490 crore from Rs 610 crore.The IPO now comprises a fresh issuance of shares worth Rs 490 crore and an offer for sale of 65.51 lakh shares by promoters Vimla Tyagi, Prem Narayan Tyagi, Neena Tyagi.If we go with the private placement price, the total fund raise via IPO may be around Rs 806.55 crore, including the pre-IPO funds.Click Here To Read All IPO NewsThe fresh issue proceeds will be utilised for repaying debt, meeting capital expenditure and for inorganic growth initiatives, besides general corporate purposes.The company, promoted by Ajay Kumar Tyagi and Kapil Kumar, had in August 2022 got the Securities and Exchange Board of India’s nod for the IPO.Intensive Fiscal Services, Ambit and IIFL Securities are the merchant bankers to the issue.