The initial public offer (IPO) of Global Health Limited was fully subscribed in the late morning deals today. The firm received bids for 5.14 crore shares against an IPO size of 4.67 crore shares amounting to a subscription of 110 per cent on the third and last day of bidding. The company is offering its shares in a price band of Rs 319 to Rs 336. At the upper end of the price band, the share sale is expected to fetch Rs 2,206 crore. The quota for retail investors was subscribed 42 per cent of the allotted portion, while the portion set aside for non-institutional investors was subscribed 1.94 times today.
On the second day of IPO on November 4, the issue was subscribed 49 per cent. The IPO of Global Health – the operator of Medanta hospitals – received bids for 2.3 crore shares against 4.7 crore shares on offer, according to provisional exchange data.
Of the total IPO, 50 percent is reserved for qualified institutional buyers (QIBs), 15 percent for non-institutional investors – or high net worth individuals – and 35 percent for retail investors.
The lot size of Global Health IPO is 44 shares for which one will have to spend Rs 14,784. A retail individual investor can submit bids for up to 13 lots or 572 shares by spending Rs 1,92,192. The grey market premium (GMP) of Global Health IPO stood at Rs 15 today, according to IPO Watch. This means that the stock is likely to be listed at Rs 351. The firm will announce allotment of shares on November 11, 2022.
The shares are likely to make their debut on November 16 on BSE and NSE. KFin Technologies Limited is the registrar to the IPO. The IPO consists 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.
Kotak Mahindra Capital Company Limited, Credit Suisse Securities (India) Private Limited, Jefferies India Private Limited and JM Financial Limited are the book running lead managers for the Global Health IPO. The promoter currently holds 35.03 per cent stake in the company. After the IPO, this will fall to 33.08 per cent. Public holding will increase from the current 64.97% to 66.92%.
On November 2, Global Health raised Rs 662 crore from anchor investors. It will allocate 1.97 crore equity shares at Rs 336 apiece, aggregating the transaction size to about Rs 662 crore. The anchor investors include–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.
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