Medanta Operator Global Health IPO: GMP goes ahead with listing of shares

The initial public offering (IPO) of Global Health, which operates a chain of hospitals under the Medanta brand, was subscribed 9.58 times on the last day of the offer, closing on Monday, November 7, 2022. crore shares against 4.67 crore shares on offer, as per NSE data.

In the initial share sale . New shares worth up to Rs. 500 crore and offer for sale (OFS) of 5,07,61,000 equity shares. The price range of the offer was 319-336 a share. The proceeds from the fresh issue will be used to pay down debt and for general corporate purposes. Global Health’s IPO is the biggest ever in the hospital sector in India.

the company gathered 662 crore from anchor investors prior to its issue. The company decided to allot 1.97 crore equity shares to: 336 each, taking into account the transaction size of approx. 662 crores. Government of Singapore, Nomura, Axis Mutual Fund (MF), HDFC MF, Aditya Birla Sun Life MF, SBI MF, ICICI Prudential MF, Kotak MF, Max Life Insurance Company and SBI Life Insurance Company are among the anchor investors.

Established by renowned cardiovascular and cardiothoracic surgeon Dr. Naresh Trehan, Global Health is a leading private multi-specialty tertiary care provider in the North and East regions of India. Global Health, backed by private equity investors such as the Carlyle Group and Temasek, operates a network of five hospitals under the ‘Medanta’ brand in Gurugram, Indore, Ranchi, Lucknow and Patna. Apart from this a hospital is under construction in Noida.