The initial sale of shares of Global Health Limited, which operates and manages hospitals under the Medanta brand, will open for public subscription on November 3.
The initial public offering (IPO) will close on Nov. 7, according to the Red Diversion Prospectus (RHP).
According to investment banking sources, the size of the IPO could be around Rs 2,200 crore.
The IPO consists of a new issue of equity shares totaling Rs 500 crore and an offer for sale (OFS) of up to 5.08 crore of equity shares.
As part of the SFO, Anant Investments, a subsidiary of private equity giant Carlyle Group and Sunil Sachdeva (together with Suman Sachdeva) will divest of the shares.
Currently, Anant Investments holds a 25.64% stake in Global Health and Sachdeva holds a 13.41% stake in the company.
Proceeds from the new issue will be used to pay debt and general corporate purposes.
Founded by Naresh Trehan, a renowned Cardiovascular and Cardiothoracic Surgeon, Global Health is one of the leading private multi-specialty tertiary care providers in the northern and eastern regions of India.
Global Health, backed by private investors such as Carlyle Group and Temasek, operates a network of five hospitals under the “Medanta” brand in Gurugram, Indore, Ranchi, Lucknow and Patna. Additionally, a hospital is under construction in Noida.
While operating its Noida hospital in FY 2025, the total number of beds installed by the company is expected to exceed 3,500. As part of its growth strategies, the company also intends to leverage the medical tourism.
The company reported total revenue of Rs 2,205.8 crore and profit of Rs 196.2 crore in FY22.
According to a Crisil report, India’s healthcare delivery sector is expected to post a CAGR of 13-15% between FY21-26, driven by pent-up demand, strong fundamentals, growing affordability and Ayushman Bharat Yojana.
Additionally, the county’s bed density per 10,000 population is only 15 beds, which is below the global median of 29 beds.
Kotak Mahindra Capital Company, Credit Suisse Securities (India), Jefferies India and JM Financial lead the IPO.
(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)