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, of Rs 3,750.00 million
Global Health 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.
The initial public offering comprises a fresh issue aggregating up to Rs 5,000.00 million and 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, of Rs 3,750.00 million. The balance amount of the net issue proceeds will be used for general corporate purposes.