Goodwill Hospital and Research Centre’s, an operator of multi-specialty hospital, initial public offer (IPO) received dismal response on the first day of issue amid volatile Indian equity markets. As per the data available with the NSE, total bid of 1540 shares were received for the issue of 3542857 shares, though all the bids were received at the cut-off price.
Operating 'Ojjus Medicare' in Noida, Goodwill Hospital is planning to raise Rs 62 crore through this issue. The IPO, affirmed with CARE IPO grade 3 by rating agency CARE, will close on January 09, 2012. The company has set price band of Rs 175 to Rs 185 for this 100% book building issue. SPA Merchant Bankers is the book running lead manager and BEETAL Financial & Computer Services is the registrar to the issue.
It intends to utilize issue proceeds for setting up of Diagnostic Centre at Faridabad; establishment of six polyclinics; re-payment/pre-payment of loan facilities.
Goodwill Hospital is engaged in running a multi-specialty hospital named Ojjus Medicare with super specialty focus on areas such as Neurology and Neuro surgery, Cardiology and Cardiac surgery and Orthopedics with emphasis on Joint Replacements and Sports injuries. Incorporated in year 2000, the hospital also offers services in area of minimally invasive surgeries, mother and child care, pediatrics, diagnostic, critical care medicine, oncology etc. The hospital admeasuring 1,999 sq. meters with constructed area of approximately 50,000 sq. ft. is owned by the company.
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