Founded by Dr. Naresh Trehan, Global Health operates a network of five hospitals.
New Delhi:
Global Health Ltd, which operates and manages hospitals under the Medanta brand, on Friday said it has set a price band of Rs 319-336 per share for its initial public offering (IPO) of Rs 2,206 crore.
The initial share sale will open for public subscription during November 3-7. According to the company, the bids of anchor investors will open on November 2.
The IPO consists of a fresh issue of equity shares worth Rs 500 crore and an offer for sale (OFS) of 5.08 crore equity shares.
As a part of the OFS, Anant Investments, affiliated to 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.
At the upper end of the price band, the company expects to get Rs 2,206 crore through the IPO. The proceeds from the fresh issue will be used for debt repayment and general corporate purposes.
Founded by Dr. 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.
Global Health, backed by private equity investors such as Carlyle Group and Temasek, 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.
The company’s total installed beds are expected to exceed 3,500 once the Noida hospital starts operations in the financial year 2025.
As part of its growth strategies, the company also intends to capitalize on medical tourism.
Half of the issue size is reserved for qualified institutional investors, 35 percent for retail investors and the remaining 15 percent for non-institutional investors.
Investors can bid in a minimum of 44 shares and multiples thereof.
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. Furthermore, the country’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.)
