Latest News | Medanta Operator Global Health IPO Subscribed 26 Pc on Day 1
Get latest articles and stories on Latest News at LatestLY. The Initial Public Offering (IPO) of Global Health, which operates hospitals under the Medanta brand, received 26 per cent subscription on the first day of offer on Thursday.
New Delhi, Nov 3 (PTI) The Initial Public Offering (IPO) of Global Health, which operates hospitals under the Medanta brand, received 26 per cent subscription on the first day of offer on Thursday.
The company's IPO attracted bids for 1,19,50,268 shares against 4,67,42,397 shares on offer, according to data available with the NSE.
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The portion meant for Qualified Institutional Buyers (QIBs) received 54 per cent subscription, non-institutional investors category was subscribed 18 per cent and Retail Individual Investors (RIIs) 12 per cent.
The IPO has a fresh issue of up to Rs 500 crore and an offer for sale of up to 5,07,61,000 equity shares.
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Its price range is at Rs 319-336 a share.
Global Health on Wednesday said it has mobilised Rs 662 crore from anchor investors.
At the upper end of the price band, the company is expected to fetch Rs 2,206 crore through the IPO.
Proceeds from the fresh issue will be used to pay debt and general corporate purposes.
Founded by Dr Naresh Trehan, a renowned cardiovascular and cardiothoracic surgeon, Global Health is a leading private multi-speciality tertiary care providers in the north and east 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. In addition, one hospital is under construction in Noida.
Credit Suisse Securities (India), Jefferies India, JM Financial and Kotak Mahindra Capital are the managers to the offer.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)