Mumbai, December 12, 2015: Healthcare chain Narayana Hrudayalaya Ltd announced a price band of Rs. 245-250 for its initial public offering on Thursday. The IPO is an offer-for-sale of up to 2,45,23,297 shares with the issue size being Rs. 613 crore at the upper end of the price band.
Investors who are selling out are Ashoka Investment Holdings Ltd (up to 62,87,978 shares), Ambadevi Mauritius Holding Ltd (up to 18,86,455 shares) JP Morgan Mauritius Holdings IV Ltd (up to 1,22,61,648 shares), among others. Promoters Devi Prasad Shetty and Shakuntala Shetty are selling 20,43,608 shares each.
The offer constitutes 12 per cent of the post issue share capital. The bids open for subscription on December 17 and close on December 21, 2015. The shares would be listed on the NSE and the BSE. The minimum bid size is 60 shares and multiples of 60 shares thereafter.The Book Running Lead Managers to the issue are Axis Capital, IDFC Securities and Jefferies India.
Founded in the year 2000 by cardiac surgeon Devi Prasad Shetty, the company has a network of 23 hospitals, 8 heart centres and 24 primary care facilities across 31 cities, towns and villages in Karnataka and eastern India, besides an emerging presence in Central and Western India.
It has 5,442 operational beds and the potential to reach a capacity of up to 6,602 beds. The company provided healthcare to over 1.97 million patients in FY15 and employs over 11,000 people including doctors, paramedical staff and others.-BusinessLine
Corporate Comm India(CCI Newswire) .
