(L-R): Global Health Management, Mr. Pankaj Sahni, Group Chief Executive Officer, Dr. Naresh Trehan, Chairman & Managing Director, and Mr. Sanjeev Kumar, Group Chief Financial Officer at the press conference in connection to their Initial public Offer (IPO).
(L-R): Global Health Management, Mr. Pankaj Sahni, Group Chief Executive Officer, Dr. Naresh Trehan, Chairman & Managing Director, and Mr. Sanjeev Kumar, Group Chief Financial Officer at the press conference in connection to their Initial public Offer (IPO).
Dr. Naresh Trehan, Chairman & Managing Director addressing the gathering on the announcement of Global Health Limited’s Initial public Offer (IPO).
(L-R): Mr. Abhijit Vaidya (Executive Director and Co-Head, Equity Corporate Finance, Kotak Mahindra Capital Company), Mr. Bineet Singh Vinayak (Vice President, Investment Banking Division, Credit Suisse Securities (India) Private Limited), Mr. Jibi Jacob (Managing Director and Head of Equity Capital Markets, India) and Ms. Cheryl Netto (Deputy CEO, Investment Banking Division, JM Financial Limited, and South-East Asia, Jefferies India Private Limited) along with Global Health Management, Mr. Pankaj Sahni, Group Chief Executive Officer, Dr. Naresh Trehan, Chairman & Managing Director, and Mr. Sanjeev Kumar, Group Chief Financial Officer at the press conference in connection to their Initial Public Offer (IPO)
MUMBAI, 28 OCTOBER, 2022 (GPN): The initial share sale of Global Health Limited, which operates and manages hospitals under the Medanta brand, will open for public subscription on November 3.
The Initial Public Offering (IPO) will conclude on November 7, according to the Red Herring Prospectus (RHP).
The IPO consists of a fresh issue of equity shares aggregating to Rs 500 crore and an offer for sale of up to 5.08 crore equity shares.
As a part of the OFS, Anant Investments, an affiliate of private equity major Carlyle Group and Sunil Sachdeva (jointly with Suman Sachdeva), will offload equity shares.
At present, Anant Investments holds 25.67 per cent shareholding in Global Health and Sachdeva owns 13.43 per cent stake in the company.
Proceeds from the fresh issue will be used to pay debt and general corporate purposes.
Founded by Naresh Trehan, a renowned cardiovascular and cardiothoracic surgeon, Global Health is a leading private multi-speciality tertiary care providers in the North and East regions of India.
Global Health, backed by private equity investors such as Carlyle Group and Temasek, operates a network of five hospitals under the ‘Medanta’ brand in Gurugram, Indore, Ranchi, Lucknow and Patna. In addition, one hospital is under construction in Noida.
Upon operation of its Noida hospital in fiscal 2025, the company’s total installed beds are expected to exceed 3,500. As part of its growth strategies, the company also intends to capitalise on medical tourism.Moreover, the county’s bed density per 10,000 population is just 15 beds, which is below the global median of 29 beds.
The company reported a total income of Rs 2,205.8 crore and a profit of Rs 196.2 crore in FY22.The Indian healthcare delivery industry is estimated to post a 13-15 per cent CAGR between FY21 and FY26, driven by pent-up demand, strong fundamentals, increasing affordability and Ayushman Bharat Yojana, according to a Crisil report.
Kotal Mahindra Capital Company, Credit Suisse Securities (India), Jefferies India and JM Financial are the book running lead managers to the the IPO.
Global Health Limited’s hospital at Gurugram was ranked as the best private hospital in India for three consecutive years in 2020, 2021 and 2022, and was the only Indian private hospital to be featured in the list of top 200 global hospitals in 2021 and was featured in the list of top 250 global hospitals in 2022 by Newsweek
Competitive Strengths:
- Leading tertiary and quaternary care provider in India, well recognised for clinical expertise in particular in dealing with complicated cases.
- Focus on Clinical Research and Academics.
- Large-scale hospitals with world-class infrastructure, high-end medical equipment, and technology.
- Track record of strong operational and financial performance.
- Focus on under-served areas with dense population and presence in top or capital cities of large states (NCR, Lucknow and Patna).
- Growth opportunities in existing facilities and diversification into new services, including digital health.
- Experienced senior management team with strong institutional shareholder support.
NUTSHELL REPORT:
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|---|
| 31-Mar-20 | 2666.29 | 1544.27 | 36.33 | 1349.54 | 621.94 |
| 30-Jun-20 | 2855.11 | 491.58 | 41.76 | 1425.38 | 725.07 |
| 31-Mar-21 | 2694.1 | 1478.16 | 28.8 | 1382.34 | 644.6 |
| 31-Mar-22 | 3145.52 | 2205.82 | 196.2 | 1616.01 | 837.86 |
| 30-Jun-22 | 3221.94 | 626.54 | 58.71 | 1675.55 | 794.45 |
| Amount in ₹ Crore | |||||
Objects of the Issue
The company proposes to utilize the net proceeds of the Fresh Issue towards funding of the following objects:
1. Repayment/prepayment of borrowings, in full or part, of the Subsidiaries, GHPPL and MHPL.
2. General corporate purposes.
Global Health IPO Details
| IPO Date | Nov 3, 2022 to Nov 7, 2022 |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price | ₹319 to ₹336 per share |
| Lot Size | 44 Shares |
| Issue Size | [.] shares of ₹2 (aggregating up to ₹2,205.57 Cr) |
| Fresh Issue | [.] shares of ₹2 (aggregating up to ₹500.00 Cr) |
| Offer for Sale | 50,761,000 shares of ₹2 (aggregating up to ₹1,705.57 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| QIB Shares Offered | Not more than 50% of the Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| Company Promoters | Dr. Naresh Trehan is the company promoter. |
Global Health IPO Tentative Timetable
Global Health IPO opens on Nov 3, 2022, and closes on Nov 7, 2022. The Global Health IPO bid date is from Nov 3, 2022 10.00 A.M. to Nov 7, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Tentative Date |
|---|---|
| Opening Date | Nov 3, 2022 |
| Closing Date | Nov 7, 2022 |
| Basis of Allotment | Nov 11, 2022 |
| Initiation of Refunds | Nov 14, 2022 |
| Credit of Shares to Demat | Nov 15, 2022 |
| Listing Date | Nov 16, 2022 |
Global Health IPO Lot Size
The Global Health IPO lot size is 44 shares. A retail-individual investor can apply for up to 13 lots (572 shares or ₹192,192).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 44 | ₹14,784 |
| Retail (Max) | 13 | 572 | ₹192,192 |
| S-HNI (Min) | 14 | 616 | ₹206,976 |
| B-HNI (Min) | 68 | 2,992 | ₹1,005,312 |
Global Health IPO Promoter Holding
| Pre Issue Share Holding | 35% |
| Post Issue Share Holding | 33% |
Company Contact Information
Medanta – Mediclinic,
E-18, Defence Colony,
New Delhi, Delhi 110 024,
Phone: +91 124 483 4060
Email: [email protected]
Website: https://www.medanta.org/
Global Health IPO Registrar
Phone: 04067162222, 04079611000
Email: [email protected]
Website: https://karisma.kfintech.com/
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