Temasek-backed hospital chain Manipal Health Enterprises has filed preliminary papers with the market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO), comprising a fresh issue of shares worth Rs 8,000 crore. Apart from the fresh issue, there will be an offer-for-sale of 43,227,668 equity shares by promoters.
Proceeds from its fresh issuance worth Rs 5,378 crore will be utilised for loan payments availed by the company's arm, Manipal Hospitals; Rs 574 crore for acquiring a minority stake in the company's subsidiary, Sahyadri Hospitals, and for general corporate purposes. Kotak Mahindra Capital Company, Axis Capital, Goldman Sachs (India) Securities, Jefferies India, JP Morgan India, UBS Securities India, and DBS Bank India are the book-running lead managers to the issue.
Manipal Health Enterprises operates a pan-India network of multispecialty hospitals, covering cardiology, oncology, neurosurgery, gastrointestinal science, Orthopedics, liver transplantation surgery and kidney transplant, among others.
| Company Name | CMP |
|---|---|
| Apollo Hospital Ent. | 7639.20 |
| Max Healthcare Inst | 993.20 |
| Narayana Hrudayalay | 1766.15 |
| Aster DM Healthcare | 701.40 |
| Global Health | 1117.65 |
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