Medanta operator Global Health's IPO to open on November 3
New Delhi: The initial share-sale of Global Health Limited, which operates and manages hospitals under the Medanta brand, will open for public subscription on November 3.
According to the Red Herring Prospectus (RHP), the initial public offering (IPO) will conclude on November 7. The IPO size could be about Rs 2,200 crore, merchant banking sources told PTI.
The IPO consists of a fresh issue of equity shares aggregating to Rs 500 crore, and an Offer-For-Sale (OFS) of up to 5.08 crore equity shares. As a part of the OFS, Anant Investments, an affiliate of private equity major Carlyle Group and Sunil Sachdeva (jointly with Suman Sachdeva) will offload equity shares.
Also Read: Medanta Brand Owner Global Health To Raise Funds Via IPO
At present, Anant Investments holds 25.64 per cent stake in Global Health and Sachdeva owns 13.41 per cent stake in the company. Proceeds from the fresh issue will be used to pay debt and general corporate purposes.
Founded by Naresh Trehan, a renowned cardiovascular and cardiothoracic surgeon, Global Health is a leading private multi-speciality tertiary care provider in the North and East regions of India.
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