PremiumGlobal Health Limited, which operates under the Medanta brand, will open its ₹2,206-crore initial public offering (IPO) on Thursday, 3 November, with plans to utilise the capital on next phase of growth across markets.
The shares are likely to be listed on BSE and NSE on 16 November, 2022. KFin Technologies Limited is the registrar to the IPO.
IPO dates - The issue will open tomorrow (3 November). The share sale of the multi-speciality tertiary care provider will close on Monday (7 November). The bidding for anchor investors will open on Wednesday.
Price band - Global Health has set a price band of ₹319 and ₹336 per equity share of face value ₹2 each.
Grey Market, allotment and listing dates - The grey market premium (GMP) of Global Health IPO stands at ₹25 per share today, according to IPO Watch. This implies that the stock will likely be listed at ₹361, a premium of 7.44% over the IPO price. The company's shares will be allotted to successful bidders on 11 November, and the refund to unsuccessful bidders will be credited on 14 November. Shares will be credited to the demat account of the successful bidders by 15 November and the stock will debut on the bourses on 16 November.
Lot size - Investors can bid for a minimum of 44 shares and in multiples thereof. The minimum investment for a retail investor works out to ₹14,784 at the upper end of the price band for 44 shares. A retail investor can apply for up to 13 lots, or 572 shares, for ₹1,92,192.
Half of the issue size has been reserved for qualified institutional investors, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.
Kotak Mahindra Capital Company Limited, Credit Suisse Securities (India) Private Limited, Jefferies India Private Limited and JM Financial Limited are the book running lead managers for the IPO of Global Health.
More about the offer - Founded by cardiologist Naresh Trehan, the firm's plan is to raise around ₹2,119 crore to 2,206 crore through the share sale. The IPO consists of a fresh issue of equity shares aggregating to ₹500 crore, and an offer for sale (OFS) of up to 5.08 crore equity shares.
Trehan had earlier said that the IPO would help the firm to become more agile in its ability to explore different possibilities in terms of business opportunities.
"It (IPO) gives you the freedom, the opportunity to provide services and robust systems that can be replicated in various regions," Trehan said.
Trehan said the healthcare provider aims to offer affordable solutions to as many people as possible even at Tier II and Tier III cities.