Private Equity

Liquidity Events

Medanta hospital operator Global Health's Rs.2,206-Cr IPO oversubscribed 1.46 times

Economic Times  

The INR 2,206 crore initial public offering (IPO) of Global Health (which operates the Medanta brand hospitals) sailed through on the last day of the issue on the back of bids from QIBs and HNIs. The IPO consists of a fresh issue of equity shares aggregating to INR 500 crore and an offer for sale (OFS) of up to 5.08 crore equity shares from its promoters and existing shareholders. The net proceeds from the fresh issue will be utilised towards repayment or prepayment of borrowings, in full or part, of the subsidiaries, GHPPL and MHPL and general corporate purposes. Global Health is one of the largest private multi-speciality tertiary care providers operating in the North and East regions of India. It has a network of four hospitals in Gurugram, Indore, Ranchi, Patna and Lucknow. As of June 30, 2022, the company provided healthcare services in over 30 medical specialties and engaged over 1,300 doctors led by experienced department heads. The operational hospitals have 2,467 installed beds. Global Health mobilised INR 662 crore from anchor investors ahead of its IPO as it allocated 1.97 crore equity shares at INR 336 apiece. Kotak Mahindra Capital Company, Credit Suisse Securities (India), Jefferies India and JM Financial are the book-running lead managers to the IPO.

From the Venture Intelligence PE-VC Deal Database: Between Dec-2013 and Jan-2015, Medanta had raised about USD 275 M from Temasek and Carlyle. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)