Healthcare agency International Gealth Restricted, which operates Medanta hospital chain, will open its preliminary public providing (IPO) for subscription subsequent Thursday i.e November 3. The subscription can be open for utility until November 7, Hindustan Occasions’ enterprise web site Livemint reported.
Based on the report, the preliminary share sale contains contemporary fairness shares price ₹500 crore. As much as 5.08 crore fairness shares are supplied on the market by the corporate’s shareholders and promoters.
From the proceeds of the IPO, Medanta’s dad or mum agency is searching for to repay loans by its arm International Well being Patliputra Pvt Ltd and Medanta Holdings Pvt Ltd. The hospital chain was based in 2004 by cardiovascular and cardiothoracic surgeon Dr Naresh Trehan. Backed by non-public fairness buyers like Carlyle Group and Temasek, International Well being manages 5 Medanta hospitals in Gurugram, Lucknow, Patna, Ranchi and Indore. One hospital is at the moment under-construction in Noida.
International Well being had filed a draft crimson herring prospectus with the market regulator Securities and Trade Board of India (Sebi) in October final 12 months.
Dr Trehan has a 35 per cent stake in International Well being, whereas co-founder Sunil Sachdeva owns 13.43 per cent. RJ Corp Ltd has a 3.95 per cent stake whereas Agio Picture Ltd has 1.97 per cent stake. Carlyle Group via its affiliate Anant Investments has minority stake of 25.67 per cent whereas Temasek Holdings via its affiliate Dunearn Investments Mauritius Pvt Ltd owns 17 per cent.
Based on stories, International Well being expects its put in beds to exceed 3,500. The corporate can be capitalising on medical tourism.