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The promoter group holds 57.68 percent stake while the bloc of private equity investors holds 31.52 percent in SRL Diagnostics. The investors include the likes of NY Jacob Ballas and the World Bank's development finance arm IFC
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The promoter group holds 57.68 percent stake while the bloc of private equity investors holds 31.52 percent in SRL Diagnostics. The investors include the likes of NY Jacob Ballas and the World Bank's development finance arm IFC.
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The study conducted by SRL Diagnostics to mark World Hepatitis Day also found that Hepatitis E was reported highest followed by Hepatitis A, with the latter being most common among children and the former most prevalent in adults.
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Testing for COVID-19 has seen a significant drop from being about 30 percent of SRL’s revenue in January to almost 7 percent in March. The CEO of SRL Diagnostics says that going forward about to 3-4 percent of their overall testing will be COVID-related, and the remaining, non-Covid
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SRL which contributes about one-fifth of Fortis revenues of Rs 4537 crore in FY18, has been struggling to grow its margins and revenues faced with competition and pricing pressure.
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The ministry is working with government policy think tank Niti Aayog to prepare a list of diagnostic tests for which prices will be regulated.
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The race to buy controlling stake in India’s leading healthcare firm, Fortis Healthcare and its diagnostic subsidiary SRL Diagnostics has close down to two players.
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Bhavdeep Singh, CEO, Fortis Healthcare says Fortis is looking at other payment options like digital wallets and is doing its best to not turn patients away.
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Macquarie says that the merger will help unlock Rs 60 per share value for Fortis shareholders.
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The valuation of SRL Diagnostics is estimated to be around Rs 6,000 crore.
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The healthcare company will rely on brownfield expansion for driving growth and is also exploring the de-merger or a possible listing of SRL Diagnostics arm, Chief Executive Officer Bhavdeep Singh told CNBC-TV18.
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The initial public offering (IPO) of Thyrocare was oversubscribed 73.55 times in a price band of Rs 420-446. The issue was open for bidding from April 27-29.
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The Rs 479.21-crore IPO received bids for 55.25 crore shares against the total issue size of 75,21,297 shares, as per data available till 1900 hrs.
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The Rs 479.21-crore IPO received bids for 77,30,514 shares against the total issue size of 75,21,297 shares, as per the NSE data till 1200 hrs.
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The firm, which runs a diagnostics laboratory chain across the country, will come out with a public issue of up to 10,744,708 equity shares of Rs 10 each for cash.
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The bidding for shares in the IPO of Ujjivan Financial will remain open from April 28-May 2, 2016, according to a public announcement.
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The IPO is scheduled to close on April 29, as per the Red Herring Prospectus (RHP).
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The company has already entered into partnerships Himachal Pradesh, Jharkhand and Uttar Pradesh governments to establish labs in government run hospitals in these states.
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CEO Bhavdeep says Fortis Healthcare is targetting a 20 percent increase in bed count over the next four to five years, annually.
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Sanjeev Vashishta, CEO, SRL Diagnostics, says there is immediate need to increase government spending on the sector to improve the efficiency and quality of service.
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Promoter and promoter group companies (Fortis Healthcare, Religare Enterprises, Religare Wellness, Dion Global Solutions and Ligare Voyages) have 72.98 percent stake in SRL and the balance stake is held by private equity investors and others.
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Experts believe the timing is apt – the market in a bull run and many private equity players that have invested in these companies are looking for an exit. Hence, through these IPOs, these PE players will have an easier exit route.
