Medanta operator Global Health IPO to open
Medanta operator Global Health – Next month, public subscription will become available for Global Health’s initial public offering (IPO), which will run hospitals under the Medanta name. Beginning on November 3 and ending on November 7, the initial share sale would take place.
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The initial public offering (IPO) will involve a fresh issue of equity shares worth Rs 500 crore in addition to an offer-for-sale (OFS) of up to 5.08 crore equity shares. As part of the OFS, equity shares will be sold by Sunil Sachdeva and Suman Sachdeva as well as Anant Investments, a division of the significant private equity company Carlyle Group.
Sachdeva and Anant Investments each own 13.41% of Global Health at the moment, with Anant Investments holding 25.64% of the company.
Medanta operator Global Health
The IPO’s anticipated size is Rs 2,200 crore. The size of the IPO “seems huge, and it is too soon to comment on it given that the price band is not yet published,” a market expert who spoke with Business Today said.
The corporation plans to utilise the proceeds from the new issue to pay down debt and for other business needs.
Naresh Trehan, a cardiothoracic and cardiovascular surgeon, founded Global Health, a private multi-specialty healthcare organisation.
With the support of private equity investors like the Carlyle Group and Temasek, it runs a network of five hospitals in Gurugram, Indore, Ranchi, Lucknow, and Patna under the brand “Medanta.” Furthermore, a hospital is being built in Noida, Uttar Pradesh.
The business anticipates having more than 3,500 installed beds by the time the Noida hospital is finished in fiscal 2025.
Financially speaking, the business generated FY22 revenue of Rs 2,205.8 crore and profit of Rs 196.2 crore.
The book-running lead managers for the IPO are JM Financial, Credit Suisse Securities (India), Jefferies India, and Kotak Mahindra Capital Company.
