Global Health, which operates the hospital on behalf of Medanta, is pursuing an IPO of Rs 2,206 crore, most of which will be in the form of OFS.
Global Health IPO: Global Health Limited, the company that operates hospitals under the Medanta brand, has set a price range of Rs 319-336 for its Rs 2,206 crore Initial Public Offering (IPO). In this published edition of the company, the subscription will open on November 3rd and close on November 7th. According to the company, trading on anchor investors will open on November 2.
Rs 500 crore worth of new shares will be issued as part of the IPO, with the remainder planned to be raised through the sale of Rs 5.08 crore shares in an offer of sale (OFS). According to OFS, Carlyle Group’s Anant Investments and Sunil Sachdeva and Suman Sachdeva will sell their shares. Anant Investments owns 25.64% and Sunil and Suman Sachdeva own 13.41% in Global Health. The company is expected to raise Rs 2,206 crore through the IPO. Proceeds from the new issue will be used for debt repayment and general corporate purposes.
Medanta brand owner IPO: Global Health IPO to open on November 3, issue size could be Rs 2,200 crore, check details
5 private hospitals brand Medanta
The founder of Global Health Limited is Dr. Naresh Trehan, a renowned cardiovascular and cardiothoracic surgeon. It is a diversified tertiary care company that provides medical services in the northeastern regions of the country under the Medanta brand. Created in partnership with private investors such as Carlyle Group and Temasek, Global Health Limited operates a network of 5 hospitals in the country under its Medanta brand. These hospitals are operating on behalf of Medanta in Gurugram, Indore, Ranchi, Lucknow and Bihar’s capital Patna, with a hospital being built in Noida, Uttar Pradesh.
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What is an IPO
An initial public offering is made by a private company to raise capital from the market. It is the process of transforming a private company into a public one. When companies need money, they list their shares on the stock market. The company spends the capital received from the IPO as needed. This fund can be used to pay off debt or to grow the company. Listing shares on stock exchanges helps a company get the right valuation.