The three-day initial public offering (IPO) of Global Health Limited, which operates and manages hospitals under the Medanta brand, will open for public subscription tomorrow i.e. November 3, 2022, with Bikaji Foods also launching its issue on Thursday . , Global Health has fixed a price band of 319-336 per share for the IPO and the initial share sale will end on Monday, November 7, 2022.
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. 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.
As part of the OFS, Anant Investments, affiliated to private equity major Carlyle Group, and Sunil Sachdeva (jointly with Suman Sachdeva) will sell equity shares. Presently, Anant Investments holds 25.64% stake in Global Health and Sachdeva holds 13.41% stake in the company. At the upper end of the price band, the company expects to achieve 2,206 crore through IPO.
“Global Health had a better performance in fiscal 2012 than in 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.
Founded by Dr Naresh Trehan, a renowned cardiovascular and cardiothoracic surgeon, Global Health is a leading private multi-specialty tertiary care provider in the North and Eastern regions of India. The company recorded total income of 2,205.8 crore and a profit of 196 crore in FY22.
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