Goodwill Hospital IPO opens for subscription

The company is also offering one detachable warrant per equity share and the issue will close on January 9, 2012.

Company is engaged in running a multi specialty hospital at Noida called Ojjus Medicare, focusing on core areas such as neurology and neuro surgery, cardiology and cardiac surgery with emphasis on joint replacements and sports injuries. It also provides other services like paediatrics, diagnostic, critical care medicine, oncology, dermatology etc.

Company intends to use issue proceeds for setting up of diagnostic centre at Faridabad (with an outlay of Rs 16.22 crore), establishment of six polyclinics (with cost of Rs 33.97 crore) and repayment of loans (of Rs 10 crore).

Goodwill Hospital reported a net profit of Rs 4.33 crore on total income of Rs 16.08 crore in the quarter ended June 30, 2011. For the financial year ended on March 31, 2011 - company posted a net profit of Rs 15.72 crore and total income of Rs 53.58 crore, an increase of 471.6% and 134% over previous year, respectively.

The book running lead manager to the issue is SPA Merchant Bankers Ltd. Beetal Financial & Computer Services Pvt Ltd is the registrar.