The Global Health IPO consists of a new issue of 500 crore equity shares and an OFS of up to 5.08 crore shares.
Global Health Limited’s three-day initial public offering (IPO), which operates and manages hospitals under the Medanta brand, will open for public subscription next week on Thursday, November 3, 2022, and will conclude on Monday, November 7, 2022.
The initial share sale includes a fresh issue of 500 crore equity shares and an offer for sale (OFS) of up to 5.08 crore equity shares by the company’s shareholders and promoters.
The firm intends to use the proceeds to repay loans made by its subsidiaries Global Health Patliputra Pvt. Ltd and Medanta Holdings Pvt. Ltd through debt or equity infusion.
Dr. Naresh Trehan, a cardiovascular and cardiothoracic surgeon, founded Medanta in 2004. Global Health is a leading private multi-specialty tertiary care provider in India’s North and East.
Global Health, backed by private equity investors such as Carlyle Group and Temasek, operates a network of five hospitals in Gurugram, Indore, Ranchi, Lucknow, and Patna under the ‘Medanta’ brand. In addition, one hospital is being built in Noida. In October of last year, the company filed a draught red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi).
Carlyle Group through its affiliate, Anant Investments, and Temasek Holdings through its affiliate, Dunearn Investments Mauritius Pte Ltd, both hold minority stakes in Global Health—25.67% and 17%, respectively—while Trehan has a 35% stake, Medanta co-founder Sunil Sachdeva 13.43%, RJ Corp Ltd 3.95%, and Agio Image Ltd 1.97%.
Global Health, backed by private equity investors such as Carlyle Group and Temasek, operates a network of five hospitals in Gurugram, Indore, Ranchi, Lucknow, and Patna under the ‘Medanta’ brand. In addition, one hospital is being built in Noida. In October of last year, the company filed a draught red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi).
Carlyle Group through its affiliate, Anant Investments, and Temasek Holdings through its affiliate, Dunearn Investments Mauritius Pte Ltd, both hold minority stakes in Global Health—25.67% and 17%, respectively—while Trehan has a 35% stake, Medanta co-founder Sunil Sachdeva 13.43%, RJ Corp Ltd 3.95%, and Agio Image Ltd 1.97%.
The company’s total installed beds are expected to exceed 3,500 when its Noida hospital opens in fiscal 2025. The company intends to capitalize on medical tourism as part of its growth strategies. In FY22, the company reported a total income of 2,206 crore and a profit of 196 crore.
The book running lead managers for the IPO are Kotal Mahindra Capital Company, Credit Suisse Securities (India), Jefferies India, and JM Financial. The registrar of the public offering is KFin Technologies Limited. On Wednesday, November 16, 2022, the company’s shares are expected to be listed on the stock exchanges BSE and NSE.
