International Well being Restricted, which operates and manages hospitals underneath the Medanta model, on Friday stated it has set a worth band of Rs 319-336 a share for its Rs 2,206 crore preliminary public providing (IPO).
The preliminary share sale will open for public subscription throughout November 3-7. The bidding for anchor traders will open on November 2, in line with the corporate.
The IPO consists of a recent concern of fairness shares aggregating to Rs 500 crore and a proposal on the market (OFS) of as much as 5.08 crore fairness shares.
As part of the OFS, Anant Investments, an affiliate of personal fairness main Carlyle Group, and Sunil Sachdeva (collectively with Suman Sachdeva) will offload fairness shares.
At current, Anant Investments holds a 25.64 per cent stake in International Well being and Sachdeva owns a 13.41 per cent stake within the firm.
On the higher finish of the worth band, the corporate is predicted to fetch Rs 2,206 crore by means of the IPO. Proceeds from the recent concern will probably be used to pay debt and for basic company functions.
Based by Dr Naresh Trehan, a famend cardiovascular and cardiothoracic surgeon, International Well being is a number one personal multi-speciality tertiary care supplier within the north and jap areas of India.
International Well being, backed by personal fairness traders like Carlyle Group and Temasek, operates a community of 5 hospitals underneath the Medanta model in Gurugram, Indore, Ranchi, Lucknow and Patna. As well as, one hospital is underneath building in Noida.
The corporate’s complete put in beds are anticipated to exceed 3,500 after Noida hospital commences operation in fiscal 2025.
As a part of its progress methods, the corporate additionally intends to capitalise on medical tourism.
Half of the problem measurement has been reserved for certified institutional traders, 35 per cent for retail traders and the remaining 15 per cent for non-institutional traders.
Buyers can bid for at least 44 shares and in multiples thereof.
The corporate delivered a complete earnings of Rs 2,205.8 crore and a revenue of Rs 196.2 crore in FY22.
The Indian healthcare supply trade is estimated to submit a 13-15 per cent CAGR between FY21 and FY26, pushed by pent-up demand, sturdy fundamentals, rising affordability and Ayushman Bharat Yojana, in line with a Crisil report. Furthermore, the nation’s mattress density per 10,000 inhabitants is simply 15 beds, which is under the worldwide median of 29 beds.
Kotak Mahindra Capital Firm, Credit score Suisse Securities (India), Jefferies India and JM Monetary are the book-running lead managers to the IPO.
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