Gaudium IVF and Women Health, the first fertility services provider to have launched an IPO, has raised Rs 49.5 crore from four anchor investors on February 19, a day before the IPO opens for public subscription.
The company announced its IPO schedule last week, raising Rs 165 crore via initial public offering (IPO) which comprises of fresh issue of 1.13 crore equity shares worth Rs 90 crore, and an offer-for-sale of 94.93 lakh shares amounting to Rs 75 crore by promoter and founder Dr Manika Khanna.
The price band for the offer, which opens for subscription during February 20-24, has been fixed at Rs 75-79 per share.
New Delhi-based Gaudium IVF (in vitro fertilisation) has finalised allocation of 62.65 lakh shares to four anchor investors at the upper price band. Meru Investment Fund was the biggest investor amongst them, investing nearly Rs 17 crore for 21.51 lakh shares, followed by Sanshi Fund that picked 15.8 lakh shares worth Rs 12.5 crore.
Hornbill Orchid India Fund, and Carnelian India Multi-Strategy Fund each picked up 12.6 lakh shares amounting to Rs 10 crore.
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The fertility services provider operating under the hub and spoke model will spend Rs 50 crore of fresh issue proceeds for establishment of 19 new IVF centers, Rs 20 crore for repaying of certain outstanding loans, and the remainder funds for general corporate purposes.
Incorporated in 2015, Gaudium IVF and Women Health operates business through 7 hubs (centers in Delhi, Mumbai, Punjab, Jammu & Kashmir, Bihar, and Bangalore) and 28 spokes (i.e. a strategic alliance with infertility expert to achieve the mutual goal of spreading awareness about ART and IVF treatment).
Post issue, the company will finalise IPO share allotment by February 25, and make its market debut on the bourses on February 27.
Sarthi Capital Advisors is the sole merchant banker handling the Gaudium IVF and Women Health IPO.
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