The initial share sale of Global Health Ltd., which operates and manages hospitals under the Medanta brand, will open for public subscription on November 3.
According to the Red Herring Prospectus (RHP), the initial public offering (IPO) will end on November 7.
According to merchant banking sources, the size of the IPO could be around Rs 2,200 crore.
The IPO consists of a fresh issue of equity shares worth Rs 500 crore and offer-for-sale (OFS) of 5.08 crore equity shares.
As a part of the OFS, Anant Investments, an associate of private equity major Carlyle Group and Sunil Sachdeva (jointly with Suman Sachdeva) will sell equity shares.
At present, Anant Investments holds 25.64 per cent stake in Global Health and Sachdeva holds 13.41 per cent in the company.
The proceeds from the fresh issue will be used to pay off debt and general corporate purposes.
Founded by Naresh Trehan, a renowned cardiovascular and cardiothoracic surgeon, Global Health is a leading private multi-specialty tertiary care provider in the North and Eastern regions of India.
Backed by private equity investors such as Carlyle Group and Temasek, Global Health operates a network of five hospitals under the ‘Medanta’ brand in Gurugram, Indore, Ranchi, Lucknow and Patna. Apart from this a hospital is under construction in Noida.
Upon operations of its Noida hospital in the financial year 2025, the company’s total installed beds are expected to exceed 3,500. As part of its growth strategies, the company also intends to capitalize on medical tourism.
The company reported total income of Rs 2,205.8 crore and profit of Rs 196.2 crore in FY22.
According to a report by Crisil, the Indian healthcare industry is projected to post a CAGR of 13-15 per cent between FY2011 and FY26, driven by increased demand, strong fundamentals, growing affordability and the Ayushman Bharat scheme. Is.
In addition, the county’s bed density is just 15 beds per 10,000 population, which is below the global average of 29 beds.
Kotak Mahindra Capital Company, Credit Suisse Securities (India), Jefferies India and JM Financial are the book running lead managers of the IPO.
(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)