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IPO

Home healthcare services provider Portea files DRHP for Rs.1,000-Cr IPO

Economic Times  

Healthvista India, a healthcare provider that operates out-of-hospital services brand, Portea, had filed Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (Sebi) for an initial public offering (IPO) to raise INR 1,000 crore. The company is planning a fresh issue of INR 200 crore and an offer for sale of 56,252,644 shares. The offer for sale comprises equity shares of 12,070,214 equity shares by Accel Growth III Holdings (Mauritius) Ltd; 8,504,709 equity shares by Accel India III (Mauritius) Ltd, 4,278,680 equity shares by Ventureast Life Fund III LLC Limited; 4,445,735 equity shares by MEMG CDC Ventures; 4,256,924 equity shares by Qualcomm Asia Pacific Pte Ltd, 4,229,951 equity shares by Accel India V (Mauritius) Limited and 3,984,752 equity shares by Sabre Partners Trust. The company proposes to use the net proceeds towards working capital requirements of material subsidiary Medybiz Pharma, repayment of loans, purchase of medical equipment, for marketing and brand building and for inorganic growth initiatives. SBI Capital Markets, IIFL Securities and JM Financial are the Book Running Lead Managers to the issue.