Global Health Limited, which currently operates a network of five hospitals in Gurugram, Indore, Ranchi, Lucknow and Patna under the brand ‘Medanta’ and one hospital in Noida which is under construction, will open its initial public offering on November 03, 2022. The Price Band of the offer has been fixed at Rs 319 to Rs 336 per Equity Share of face value Rs 2 each. Bids can be made for a minimum of 44 Equity Shares and in multiples of 44 equity shares thereafter.
- Price Band: Rs 319 to Rs 336 per equity share
- Face value: Rs 2 each
- Bid /Offer Opens: Thursday, November 03, 2022
- Bid/ Offer Closes: Monday, November 07, 2022
The initial public offering comprises a Fresh Issue – an Offer for Sale of up to 50,761,000 Equity Shares by the Selling Shareholders comprising of up to 50,661,000 Equity Shares by Anant Investments, an affiliate of The Carlyle Group, and up to 100,000 Equity Shares by Sunil Sachdeva (jointly with Suman Sachdeva).
The Company intends to use the proceeds of the fresh issue for Investment in two of its subsidiaries, GHPPL and MHPL, in the form of debt or equity for repayment/prepayment of borrowings, in full or part, of such subsidiaries. The balance amount of the net issue proceeds will be used for general corporate purposes.
The Offer is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Offer Price.
However, if the aggregate demand from the Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation will be added to the remaining QIB Portion for proportionate allocation to QIBs. The Equity Shares offered through Red Herring Prospectus are proposed to be listed on BSE and NSE.