The initial public offering (IPO) of Global Health Ltd, which runs a chain of five hospitals under the name Medanta, is going to begin on November 3 and will end on November 7.
Five Medanta Hospitals may be found in Gurugram, Indore, Ranchi, Lucknow, and Patna, and one more is being built in Noida.
The range of the offer’s price for each equity share with a face value of Rs. 2 has been set at Rs. 319 to Rs. 336. According to Medanta Chairman Dr. Naresh Trehan, offers can be made for a minimum of 44 equity shares and then in multiples of 44 equity shares going forward.
Global Health Ltd IPO details
The initial public offering consists of a fresh issue totaling up to $5 billion and an offer for sale of up to 50,761,000 equity shares by selling shareholders, including up to 100,000 equity shares from Sunil Sachdeva and 50,661,000 equity shares from Anant Investments, a subsidiary of The Carlyle Group (jointly with Suman Sachdeva).
The business plans to invest the proceeds from the new issuance in two of its subsidiaries, GHPPL and MHPL, in order to prepay all or a portion of the Rs 3,750 million in borrowings held by those companies. The remaining net issuance proceeds will be applied to general corporate needs.
The remainder will be available for allocation to all QIBs (other than anchor investors) on a proportionate basis, including mutual funds, subject to valid bids being received at or above the offer price, it continued. Additionally, 5% of the net QIB portion shall be available for allocation on a proportionate basis only to mutual funds.
The remaining equity shares available for allocation will be added to the remaining QIB component for proportionate allocation to QIBs, it was stated, if the combined demand from mutual funds is less than 5% of the net QIB portion.
Global Health Ltd stated in the statement that it is proposed for the equity shares offered through Red Herring Prospectus to be listed on the BSE and the NSE.
Other major IPOs open this week
Bikaji Foods will open for subscription on November 3 and close on November 7. Confectionary and savouries company Bikaji Foods has set its price band at Rs 285 to Rs 300 per equity share.
Fusion Microfinance has fixed a price band of Rs 350-368 per share for its Rs 1,104 crore initial public offering.
DCX Systems’ IPO opened for public subscription on Monday, October 31, 2022. Its price range was at ₹197-207 a share. On Friday, DCX Systems said it has raised ₹225 crore from anchor investors.