Narayana Hrudayalaya IPO plans: (From L-R)Indraneil Borkakoty (Jefferies India private Limited), Kesavan Venugopalan (Group CFO, Narayana Hrudayalaya Limited), Ashutosh Raghuvanshi (Managing Director & CEO, Narayana Hrudayalaya Limited), Dr Devi Shetty (Chairman, Narayana Hrudayalaya Limited), Viren Shetty (Executive Director Narayana Hrudayalaya Limited), Dr. Subramanian (Axis Capital Limited), Anish Damania (IDFC Securities Ltd.)
After the success of Alkem Laboratores and Dr Lal Pathlabs initial public offers, another healthcare company ‘Narayana Hrudayalaya’ is set to hit Dalal Street with its initial public offering (IPO) on December 17.
Narayana Hrudayalaya was founded in 2000 by promoter, Devi Prasad Shetty, who has over 30 years of medical experience as a cardiac surgeon, the company is one of the leading private healthcare service providers in India, operating a chain of multispecialty and primary healthcare facilities.
The IPO, which would close on December 21, would be made through an offer of sale of up to 2.45 crore equity shares representing 14.04 per cent stake in the company by the promoters and other existing shareholders. Post IPO, the promoters will hold 65 per cent stake in the company.
Going by the Rs 245 – Rs 250 price band offered per equity share, Narayana Hrudayalaya would raise up to Rs 601 crore – Rs 613 crore. The minimum bid lot is for 60 equity shares and in multiples of 60 shares thereafter.
The book running lead managers to the offer are Axis Capital, IDFC Securities and Jefferies India.The anchor investor shall bid on the anchor investor bidding date which is one Working Day prior to the offer opening date.
The hospital has a headquarter in Bengaluru, it operates a national network of hospitals in India with a particularly strong presence in the southern state of Karnataka and eastern India, as well as an emerging presence in western and central India.
As of September 30, 2015, it had 11,163 employees, which included 344 doctors, 5,587 nurses, 1,996 paramedical staff and 3,236 administrative personnel.
Additionally, it had 487 students, which included 469 doctors, 14 paramedics and 4 administrative trainees. Further, it had 1,750 doctors on a consultancy basis (including visiting consultants) engaged in the system. In FY 2015, the facilities provided care to over 1.97 million patients.
The initial public offerings of drug maker Alkem Laboratories and diagnostic chain Dr Lal PathLabs got robust investor response, with 44.23 times and 33.31 times over subscription, respectively, on the last day of bidding on December 10. Both of these IPOs were opened for suscription on December 8.
(With agency inputs)
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