The share allotment of Medanta operator Global Health IPO is likely to take place this week. check gmp

According to NSE data, the public issue received bids for 44.79 crore shares against 4.67 crore shares on offer. The category of Qualified Institutional Buyers (QIBs) was subscribed 28.64 times, while the share of non-institutional investors was subscribed 4.02 times and Retail Individual Investors (RII) at 88%.

As per market observers, Global Health Shares are available at a premium (GMP) 23 in the gray market today. The shares of the company are expected to be listed on the major stock exchanges BSE and NSE next week on Wednesday, November 16, 2022.

Founded by renowned Cardiovascular and Cardiothoracic Surgeon Dr Naresh Trehan, Global Health Limited is one of the largest private multi-specialty tertiary care providers operating in the North and Eastern regions of India. It operates five hospitals in five cities under the ‘Medanta brand’.

It provides health services in over 30 medical specialties and engages over 1,300 doctors. The main specialties include cardiology, cardiac science, neurosciences, oncology, digestive and hepatobiliary sciences, orthopedics.

Its flagship Gurugram facility was ranked as the best private hospital in India for three consecutive years in 2020, 2021 and 2022, and was the only Indian private hospital to feature in the list of top 200 global hospitals in 2021.

global health ipo A recent issue of value included 500 crore and Offer for Sale (OFS) of about 5.08 crore equity shares by the promoters. The sold shareholders are Anant Investments and Sunil Sachdeva. The company planned to raise approx. 2,205 crore from the issue. Global Health is the country’s largest IPO in the hospital sector.

As per Anand Rathi’s IPO note, Global Health has good operating metrics and a financial profile with growing topline and margins over the years. Compared to its enlisted peers, Medanta is considered quite valuable.