Healthvista India submits preliminary IPO documents to raise ~Rs1,000 crore

1 Jul 2022 , 12:55 PM

The market regulator Securities and Exchange Board of India – SEBI has received preliminary paperwork from Healthvista India Limited for an initial public offering that would raise roughly Rs1,000 crore.

The business offers healthcare services outside of hospitals under the Portea name. According to the Draft Red Herring Prospectus (DRHP), the IPO – Initial Public Offering consists of a fresh issue of equity shares totaling up to Rs200 crore and an Offer For Sale (OFS) of up to 56,252,644 shares by selling shareholders.

Shares will be sold under the OFS by Qualcomm Asia Pacific Pte Ltd, Accel India V (Mauritius), Ventureast Life Fund III LLC Limited, MEMG CDC Ventures, Accel Growth III Holdings (Mauritius) Limited, and Sabre Partners Trust.

The IPO is predicted to raise roughly Rs1,000 crore, per market source. The new issue’s proceeds will be utilized for general business purposes, debt repayment, the procurement of medical equipment, marketing, and brand-building operations, inorganic expansion efforts, and the working capital needs of its subsidiary, Medybiz Pharma.

The issue’s book running Lead managers are SBI Capital Markets, IIFL Capital Services, and JM Financial. It is proposed that the company’s equity shares list on the BSE and NSE.