Singapore's Temasek holds a 9.4% stake in the widely held company, while Indgrowth Capital owns 1.2%. Public shareholding is 76.1%, as per latest regulatory disclosures.
Healthcare Global Enterprises (HCG) is likely to issue new shares, where CVC Capital is expected to buy stakes large enough to make it the biggest shareholder and co-promoter of the oncology chain.
Currently, the Bengaluru-based cancer-care chain’s biggest shareholders are founder-CEO and promoter BS Ajai Kumar and family (23 percent), Temasek Holdings (9.4 percent) and Indgrowth Capital (1.2 percent). Public shareholding is 76.1 percent.
The new issue is likely to be through preferential allotment with present promoters selling a part of their own stakes. It is also likely to prompt an additional 26 percent open offer, The Economic Times reported.
Moneycontrol could not independently verify the report.
Sources further told the paper that another investor was expected to offer 15-20 percent premium on the current price for stake. The developments come as HCG informed the BSE on May 7 that it is considering raising capital through equity shares or warrants.
An HCG spokesperson denied that promoters plan to sell stake while Temasek, Indgrowth Capital and CVC did not respond to ET queries, as per the report.
While the coronavirus situation has impacted hospital stocks, experts feel specialty segments like oncology where HCG could still fare better.
During an investor call in February, Kumar said the management was looking at options of debt reduction and fundraising, including carving out a separate entity.First Anniversary Offer: Subscribe to Moneycontrol PRO’s annual plan for ₹1/- per day for the first year and claim exclusive benefits worth ₹20,000. Coupon code: PRO365
