MUMBAI: Gujarat Kidney & Super Speciality is all set to launch its ₹250.8 crore initial public offering (IPO) on December 22. The mainboard IPO will remain open for bidding till December 24.
The healthcare company has announced the price band for its upcoming public offer. Gujarat Kidney & Super Speciality IPO price band has been fixed at ₹108 to ₹114 per share, with a face value of ₹2 each. The IPO consists entirely of a fresh issue of 2.20 crore shares, with no offer-for-sale component.
The funds raised from the Gujarat Kidney & Super Speciality IPO proceeds will be utilised for acquiring Parekhs Hospital Private Limited in Ahmedabad, making a partial payment for the already acquired Ashwini Medical Centre, increasing the company’s stake in its subsidiary Harmony Medicare Pvt Ltd in Bharuch, and meeting capital expenditure requirements for setting up a dedicated women’s healthcare hospital in Vadodara.As told to our representative Sachin P.M Additionally, the proceeds will be used to purchase robotic medical equipment, reduce debt, support inorganic expansion through yet-to-be-identified acquisitions, and meet general corporate purposes.Investors can apply for the IPO in lots of 128 shares. Of the net issue, 75% has been allocated to qualified institutional buyers, 15% to non-institutional investors, and the remaining 10% to retail investors.
The offer is being made through the book-building process, wherein not more than 75% of the net offer is allocated to qualified institutional buyers, and not more than 15% and 10% of the net offer is assigned to non-institutional investors and retail individual bidders, respectively.The allotment for Gujarat Kidney & Super Speciality IPO will be finalised on December 26. Meanwhile, the IPO will list on both BSE, NSE, with a tentative listing date fixed as December 30.Nirbhay Capital Services Private Limited is the book-running lead manager; and MUFG Intime India Limited is the registrar of the offer.
Gujarat Kidney and Super Speciality is a Gujarat-based regional healthcare provider that operates a network of mid-sized multi-speciality hospitals. The company delivers integrated healthcare services with an emphasis on secondary and tertiary care.Its portfolio includes seven multi-speciality hospitals along with four in-hospital pharmacies. The facilities comprise Gujarat Kidney and Superspeciality Hospital (Vadodara), Raj Palmland Hospital Private Limited (Bharuch), Gujarat Multispeciality Hospital (Godhra), Surya Hospital and ICU (Borsad), Ashwini Medical Centre and Ashwini Medical Store (Anand), Gujarat Surgical Hospital (Vadodara), and Apex Multispeciality & Trauma Center (Bharuch).
