Medanta Operator Global Health IPO Listing Soon: The subscription application for the initial public offering (IPO) of Medanta operator Global Health closed on Monday, November 7. Recording oversubscription of 9.58 times, the company received bids for over 44.79 crore shares against the 4.67 crores on offer, revealed NSE data. The company behind the successful hospital chain, Medanta, evoked great interest from Qualified Institutional Buyers (QIBs). The shares reserved for the QIB category recorded an oversubscription of 28.64 times. The portion for non-institutional shares was subscribed 4.02 times. However, shares for the Retail Individual Investors (RIIs) got subscribed only 88 per cent.
The shares of Global Health are available at a premium of Rs 15 (GMP) in the grey market, revealed IPO Watch. With the finalization of the share allotment basis by end of this week, the shares are expected to go for listing on the NSE and BSE on November 16.
The Global Health IPO fresh issues worth Rs 500 crore and an offer for sale (OFS) of close to 5.08 crore equity shares of the promoters, who presently hold a 35.03 per cent stake in the company. Post the IPO, the promoters’ holding will drop to 33.08 per cent. The price band for the shares is Rs 319 to 336. The lot size of the Global Health IPO is 44 shares for which investors will have to shell Rs 14,784. A retail investor is allowed to bid for a maximum of 13 lots making up Rs 1,92,192.
The company aims to raise about Rs 2,205 crore from the issue. It is the largest hospital sector IPO in the country.
Global Health Ltd is the operator behind the leading private hospital chain Medanta, founded by renowned cardiovascular surgeon Dr Naresh Trehan.
The Medanta hospital in Gurugram, Haryana, has been ranked the best private hospital in the country in the last three years- 2022, 2021, and 2020. Operating a total of five hospitals across India, the company offers healthcare services in more than 30 medical specialities with core specializations in cardiology, cardiac science, neurosciences, orthopaedics, oncology, digestive and hepatobiliary sciences. Global Health Ltd has over 1300 doctors working for it.
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