Mid-sized multispeciality hospital chain Gujarat Kidney and Super Speciality has mopped up Rs 100.01 crore from 10 anchor investors on December 19, a day before the IPO launch.
The Gujarat-based hospital chain is set to launch its IPO for the public on December 22, targetting to raise Rs 250.8 crore via initial share sale of 2.2 crore equity shares at the upper price band of Rs 108-114 per share. The offer consists of entirely fresh issue.
The company on Friday has finalised allocation of 87.73 lakh equity shares to anchor investors at the upper price band.
Craft Emerging Market Fund through its two sub funds - Citadel Capital Fund and Elite Capital Fund - is the largest investor in the company's anchor book, acquiring 39.47 lakh shares for Rs 45 crore.
This follows Khandelwal Finance and Venus Investments which picked up 13.16 lakh shares for Rs 15 crore, and 8.77 lakh shares for Rs 10 crore, respectively.
Nexus Global Opportunities Fund, Arnesta Global Opportunities Fund, Zeta Global Funds, Religo Commodities Ventures Trust, Sunrise Investment Trust, and Innovative Vision Fund were other investors in the anchor book, each buying 4.38 lakh shares for Rs 5 crore in Gujarat Kidney.
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Gujarat Kidney that operates seven multispeciality hospitals and four pharmacies in the state with total capacity of 490 beds intends to spend Rs 77 crore for acquisition of Parekhs Hospital at Ahmedabad, Rs 12.4 crore for part-payment of purchase consideration for the already acquired Ashwini Medical Centre, and Rs 10.78 crore for acquisition of additional shareholding in subsidiary Harmony Medicare.
Further, Rs 30.09 crore will be utilised for setting up of a new hospital in Vadodara, Rs 6.8 crore for buying robotics equipment, Rs 1.2 crore for partial debt repayment, and the remainder funds for inorganic growth & general corporate purposes.
Nirbhay Capital Services is acting as the merchant banker for the Gujarat Kidney and Super Speciality IPO.
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