Park Medi World, which runs hospital chain under the brand Park Hospital in North India, has raised Rs 276 crore via anchor book on December 9, a day before the IPO launch for the public.
The Rs 920-crore initial public offering (IPO) will open during December 10-12, with price band of Rs 154-162 per share. The company is raising Rs 770 crore by issuing fresh shares, while promoter Ajit Gupta will sell shares worth up to Rs 150 crore via offer-for-sale.
The company on Tuesday has finalised allocation of 1.7 crore equity shares to 23 anchor investors at the upper price band.
"Out of the total allocation of 1,70,37,036 equity shares to the anchor investors, 95,67,908 shares (i.e. 56.16 percent ofthe total allocation to anchor investors) were allocated to 4 domestic mutual funds - Kotak Mahindra AMC, Helios MF, ITI MF, and Taurus MF, while no application was received from life insurance companies and pension funds," the Park Hospital in its filing to exchanges said.
Other investors participated in the anchor book included Allianz Global Investors Fund, Reliance General Insurance Company, Abakkus Asset Manager, Carnelian Bharat Amritkaal Fund, SBI General Insurance, Winro Commerical, Societe Generale, and Alchemie Ventures Fund.
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Park Medi World that operates the second largest private hospital chain in North India with 3,000 beds capacity will utilise Rs 380 crore of fresh issue proceeds for repayment of certain outstanding borrowings.
Further, Rs 60.5 crore will be used for development of new hospital by subsidiary Park Medicity (NCR), Rs 27.4 crore for purchase of medical equipment by the company and its subsidiaries, and the remainder funds for unidentified inorganic acquisitions and general corporate purposes.
The company will finalise IPO share allotment by December 15, while its shares will be available for trading on the bourses effective December 17.
Nuvama Wealth Management, CLSA India, DAM Capital Advisors, and Intensive Fiscal Services are managing the Park Hospital IPO.
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