Wockhardt Hospitals sets IPO price band at Rs 280-310
Published on Fri, Jan 18, 2008 at 09:35 | Source : Moneycontrol.com
Updated at Fri, Jan 18, 2008 at 09:40
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Wockhardt Hospitals sets IPO price band at Rs 280-310
Wockhardt Hospitals, one of the largest private healthcare services companies in India, fixed the price band between Rs 280 and Rs 310 per equity share for its IPO of 25,087,097 equity shares of Rs 10 each for cash at a price determined through a 100% book building process.
Wockhardt Hospitals, one of the largest private healthcare services companies in India based on the number of hospital beds (Source: CRIS-INFAQ's report published in 2007), fixed the price band between Rs 280 and Rs 310 per equity share for its initial public offering (IPO) of 25,087,097 equity shares of Rs 10 each for cash at a price determined through a 100% book building process.
The company filed a red herring prospectus (RHP) with the Registrar of Companies, (ROC), Maharashtra, at Mumbai, on January 17, 2008.
The issue comprises a net issue to the public of 24,587,097 equity shares of Rs 10 each (the net issue) and a reservation of upto 500,000 equity shares for subscription by eligible employees. The issue will constitute 24.06% of the post-issue paid up equity share capital of the Company.
The company intends to utilise the proceeds from the issue to meet the cost of development and construction of greenfield and brownfield hospitals of the company, prepay some of the short term loans and to meet general corporate expenses.
The equity shares are proposed to be listed on Bombay Stock Exchange and the National Stock Exchange.
The joint global co-ordinators and book running lead managers to the issue are Citigroup Global Markets India Private Limited and Kotak Mahindra Capital Company Limited. The book running lead managers to the Issue are SBI Capital Markets Limited and ICICI Securities Limited.
