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Healthcare Global gets SEBI’s nod for IPO

24 Nov 2015 Evaluate

Healthcare Global Enterprises (HCG) has received capital markets regulator Securities and Exchange Board of India’s (SEBI) approval to float an initial public offer (IPO). The company filed its Draft Red Herring Prospectus (DRHP) with SEBI on July 27 for the IPO, wherein the promoters and other existing shareholders will collectively sell 3.11 crore shares of the company.

The company will use the issue proceeds for purchase of medical equipment, investment in IT software, services and hardware, payment of debt and for general corporate purposes. The shares are proposed to be listed on the BSE and the National Stock Exchange (NSE).

The Bengaluru-based firm operates one of the largest cancer care networks in the country under the brand name ‘HCG’. Currently, HCG has 15 comprehensive cancer centres.

HealthcareGlobal Share Price

550.30 -8.10 (-1.45%)
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