Global Health, which operates hospitals under the Medanta brand, has filed initial public offering (IPO) documents with capital markets regulator SEBI to raise funds. According to the draft red herring prospectus, the IPO will consist of a fresh issue of shares worth Rs 500 crore and an offer for sale (OFS) of 4.84 crore shares by Anant Investments and Sunil Sachdeva.
Private equity major Carlyle Group-affiliated Anant Investments will sell 4.33 crore equity shares and Global Health co-founder Sunil Sachdeva (jointly with Suman Sachdeva) will sell 5.1 million shares in OFS.
The company will use the proceeds from the new issue to pay off debt and for general corporate purposes.
Global Health was founded by Dr Naresh Trehan, a renowned Cardiovascular and Cardiothoracic Surgeon. It is one of the largest private multi-specialty tertiary care providers in North and East India. Global Health has 4 hospitals under the Medanta brand in Gurugram, Indore, Ranchi and Lucknow. In addition, it is building a hospital in Patna and plans to develop one in Noida.
Kotak Mahindra Capital Company, Credit Suisse Securities (India), Jefferies India and JM Financial are the book running lead managers of the IPO.