· Fresh issue of up to 11.6 million Equity Shares
· Offer for Sale of up to 18.2 million Equity Shares
· The minimum Bid lot is 65 equity shares and in multiples of 65 equity shares thereafter
· Issue opening date – Wednesday, March 16, 2016 and Issue closing date – Friday, March 18, 2016
The IPO consists of a fresh issue of up to 11.6 million equity shares by the Company and an Offer for Sale of up to 18.2 million equity shares by existing shareholders as mentioned in the Red Herring Prospectus dated March 4, 2016 (“RHP”).
The Offer is being made through the Book Building Process wherein at least 75% of the Offer will be allotted on a proportionate basis to Qualified Institutional Buyers (“QIBs”). The Company in consultation with the Investor Selling Shareholders and BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors at the Anchor Investor Offer Price on a discretionary basis, out of which one-third shall be reserved for domestic Mutual Funds only. Additionally, 5% of the QIB Portion (excluding the Anchor Investor Portion) will be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion will be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price.
Further, not more than 15% of the Offer will be available for allocation on a proportionate basis to Non-Institutional Bidders and not more than 10% of the Offer will be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All potential investors (except Anchor Investors) shall participate in this Offer only through the Application Supported by Blocked Amount (“ASBA”) process.
The Company proposes to utilize the net proceeds of the fresh issue towards; (i) Purchase of medical equipment, (ii) Investment in IT software, services and hardware, (iii) Pre-payment of debt and (iv) General corporate purposes.
Kotak Mahindra Capital Company Limited, Edelweiss Financial Services Limited, Goldman Sachs (India) Securities Private Limited, IDFC Securities Limited, IIFL Holdings Limited and Yes Bank Limited are the Book Running Lead Managers while Karvy Computershare Private Limited is the Registrar to Offer.
The offer would constitute up to 35.03% of the Company’s post-offer paid-up equity share capital. The equity shares are proposed to be listed on the BSE and the NSE.
HealthCare Global Enterprises Limited is provider of speciality healthcare in India focused on cancer and fertility. Under the ‘HCG’ brand, the Company operates the largest cancer care network in India in terms of the total number of private cancer treatment centres which are licensed by the AERB as of May 31, 2015. (Source: Atomic Energy Regulatory Board, Government of India) The fertility centres are operated under the brand name ‘Milann’. As of December 31, 2015, the HCG network consisted of 14 comprehensive cancer centres, including its centre of excellence in Bengaluru, three freestanding diagnostic centres and one-day care chemotherapy centre across India and four Milann fertility centres in Bengaluru. HCG provides clinical reference laboratory services in India with a specialisation in oncology, including molecular diagnostic services and genomic testing under the brand name “Triesta”.