The shares of Global Health Ltd will make their market debut on November 16 (Wednesday). The grey market premium (GMP) of the share sale stood at Rs 20 today. That implies the stock of multi-speciality tertiary care provider is likely to be listed at Rs 356 on the bourses. The price band of the share sale was Rs 319 to Rs 336 per share. At the upper end of the price band, the share sale has raised Rs 2,206 crore.
The company, which operates and manages hospitals under the Medanta brand, carried out the allotment of shares on November 11, 2022. The allotment status was declared on the official website of the registrar and on the BSE website. KFin Technologies Limited was the registrar of the Global Health IPO.
The Global Health IPO was subscribed over 9 times on the last day of issue on November 7. The firm received bids for 44.79 crore shares against an IPO size of 4.67 crore shares amounting to a subscription of 9.58 per cent on the third and last day of bidding.
Of the total IPO, 50 percent was reserved for qualified institutional buyers (QIBs), 15 percent for non-institutional investors – or high net worth individuals – and 35 percent for retail investors.
Global Health IPO consisted of a fresh issue of equity shares aggregating to Rs 500 crore and an offer for sale (OFS) of up to 5.08 crore equity shares by the company’s shareholders and the promoters. The lot size of Global Health IPO was 44 shares for which one would have to spend Rs 14,784. A retail individual investor could submit bids for up to 13 lots or 572 shares by spending Rs 1,92,192.
On November 2, Global Health raised Rs 662 crore from anchor investors. It allocated 1.97 crore equity shares at Rs 336 apiece, aggregating the transaction size to about Rs 662 crore. The anchor investors were Government of Singapore, Nomura, Axis Mutual Fund (MF), HDFC MF, Aditya Birla Sun Life MF, SBI MF, ICICI Prudential MF, Kotak MF, Max Life Insurance Company and SBI Life Insurance Company.
Global Health Limited is one of the largest private multi-speciality tertiary care providers operating in the North and East regions of India. Dr. Naresh Trehan, a renowned cardiovascular and cardiothoracic surgeon, is the promoter of the company. The company has key specialities in cardiology and cardiac science, neurosciences, oncology, digestive and hepatobiliary sciences, orthopaedics, liver transplant, and kidney and urology.
Also Read: Inox Green Energy IPO: Subscription, GMP, listing date & more
Also Read: Ramesh Damani, Anil Goel portfolio stock: Panama Petrochem just announced dividend, Q2 results