Global Health IPO: Latest GMP before issue opens for subscription this week

global health ipo A fresh issue of equity shares in the aggregate includes 500 crore and Offer for Sale (OFS) of 5.08 crore equity shares by the shareholders and promoters of the company.

As per market observers, Global Health Shares are available at a premium (GMP) 19 in the gray market today. The shares of the company are expected to be listed on the major stock exchanges BSE and NSE on Wednesday, November 16, 2022.

The firm intends to use the proceeds from the proceeds to repay the loan by its arm Global Health Patliputra Pvt. Ltd. and Medanta Holdings Pvt. Ltd. by investing through debt or equity infusion.

“Global Health is a major private hospital player in North and East India. Global health performance in FY22 was better than the previous years. The average occupancy level of beds was 60.50% in FY12, while the EBITDA margin was close to 22%. At the upper price band of the issue, the market cap is nearly four times the company’s FY22 revenue, while the asking P/E is close to 46x (post-fresh issue). The issue appears to be priced in line with its listed counterparts. Abhay Doshi, co-founder, Unlisted Arena, said, “We may see a split in investor participation as a result of conflicting IPOs.

Cardiovascular and cardiothoracic surgeon Dr Naresh Trehan founded Medanta in 2004. Global Health is a leading private multi-specialty tertiary care provider in the North and East regions of India. Backed by private equity investors such as Carlyle Group and Temasek, Global Health operates a network of five hospitals under the ‘Medanta’ brand in Gurugram, Indore, Ranchi, Lucknow and Patna.

Kotal is the Book Running Lead Manager of Mahindra Capital Company, Credit Suisse Securities (India), Jefferies India and JM Financial IPO. KFin Technologies Limited is the Registrar of Public Issues.