Global Health jumps on debut

16 Nov 2022 , 10:39 AM

The scrip was listed at Rs 398.15, representing a premium of 18.50% to the initial public offer (IPO) price. So far, the scrip has hit a high of Rs 409 and a low of Rs 391.05. Over 10.25 lakh shares of the company have changed hands in the counter. The IPO of Global Health (Medanta) was subscribed 9.58 times. The issue opened for bidding on 3 November 2022 and it closed on 7 November 2022. The price band of the IPO was fixed at Rs 319 to 336 per share. The issue comprised of both, fresh issue of equity shares worth up to Rs 500 crore and an offer for sale of Rs 1,705.57 crore. Of the net proceeds from the fresh issue, the company will invest Rs 375 crore in two subsidiaries, GHPPL and MHPL, in the form of debt or equity for repayment/prepayment of borrowings and remaining amount will be used for general corporate purposes. Global Health is one of the largest private multi-speciality tertiary care providers operating in the North and East regions of India. Under the Medanta brand, the company has a network of five hospitals currently in operation in Gurugram, Indore, Ranchi, Lucknow and Patna. It also has one hospital in Noida, which is under construction. The company reported a net profit of Rs 58.71 crore and net sales of Rs 617.21 crore in the quarter ended on 30 June 2022. Powered by Capital Market – Live News