Gujarat Kidney and Super Speciality has received Securities and Exchange Board of India’s (SEBI) go-ahead to raise funds through initial public offering (IPO). The company’s maiden public issue is entirely a fresh issue of equity shares of up to 2.2 crore equity shares.
Proceeds of the IPO will be used for proposed acquisition of Parekhs Hospital in Ahmedabad, part-payment of purchase consideration for the already acquired Ashwini Medical Centre, setting up a new hospital in Vadodara, and buying robotics equipment for the hospital in Vadodara. Additionally, proceeds will be used for debt repayment, funding inorganic growth through unidentified acquisitions & general corporate purposes.
Gujarat Kidney and Super Speciality is one of the regional healthcare companies located in the central region of the state of Gujarat. It operates a chain of mid-sized multi-speciality hospitals, providing integrated healthcare services focusing on secondary and tertiary care.
