Global Health, which operates and manages hospitals under the Medanta brand, has filed preliminary papers with capital market regulator Sebi to raise funds through an initial share-sale.
The initial public offering (IPO) consists of a fresh issue of equity shares aggregating to Rs 500 crore, and an offer for sale of up to 4.84 crore equity shares, according to the draft red herring prospectus (DRHP).
As a part of the OFS, Anant Investments, an affiliate of private equity major Carlyle Group, will sell up to 4.33 crore equity shares and Global Health co-founder Sunil Sachdeva (jointly with Suman Sachdeva) will offload up to 51 lakh equity shares.
At present, Anant Investments holds 25.67 percent stake in Global Health and Sachdeva owns 13.43 percent stake in the company.
Proceeds from the fresh issue will be used to pay debt and general corporate purposes.
Kotak Mahindra Capital Company, Credit Suisse Securities (India), Jefferies India and JM Financial are the book running lead managers to the IPO.
Founded by Naresh Trehan, a renowned cardiovascular and cardiothoracic surgeon, Global Health is a leading private multi-speciality tertiary care providers in the north and east regions of India.
Global Health, backed by private equity investors such as Carlyle Group and Temasek, operates a network of 4 hospitals under the Medanta brand in Gurugram, Indore, Ranchi and Lucknow. In addition, one hospital is under construction in Patna, and another planned for development in Noida. In addition, one hospital is under construction in Patna, and another planned for development in Noida.
The Indian healthcare delivery industry is estimated to post a healthy 15-17 percent CAGR between FY21 and FY25 driven by pent up demand, strong fundamentals, increasing affordability and Ayushman Bharat Yojana. Moreover, county's bed density per 10,000 population is just 15 beds, which is below the global median of 29 beds. Moreover, county's bed density per 10,000 population is just 15 beds, which is below the global median of 29 beds.