Global Health IPO opens today; check share price; lot size and more

The Initial Public Offering (IPO) of Global Health Limited opens for subscription today, 3 November. Global Health IPO, which ends on 7 November, comprises fresh issue of equity shares worth Rs 500 crore and an offer for sale (OFS) of up to 5.08 crore equity shares by the company’s shareholders and promoters. The company operates and manages hospitals under the Medanta chain. The price band for the Rs 2,200 crore IPO is between Rs 319 - Rs 336 per share. The company aims to use funds from the proceeds for repaying loans by its arm Medanta Holdings Pvt. Ltd and Global Health Patliputra Pvt. Ltd by investing via debt or equity infusion.

The company has reserved 50 percent of the issue size for qualified institutional investors, 35 percent for retail investors, and the remaining 15 percent for non-institutional investors. Investors can bid for a minimum of 44 equity shares. The book-running lead managers are Kotak Mahindra, Credit Suisse Securities (India), Capital Company, Jefferies India and JM Financial. The registrar is KFin Technologies.

According to Abhay Joshi, co-founder of UnlistedArena, Global Health showed a better performance in FY22 than in the preceding years. He further added that the average occupancy level of beds stood at 60.50 percent, while the EBITDA margins were close to 22 percent in FY22.

For the year 2021-22, the firm saw a profit after tax (PAT) of Rs 196.2 crore with a revenue of Rs 2,205.82 crore. For the period ended 30 June, 2022, Global Health’s PAT was Rs 58.71 crore with total revenue of Rs 626.54 crore.

As of 30 June, Global Health had over 6,000 medical professionals, which included 1,300 doctors, 3,700 nurses, and over 1,000 paramedical professionals. But the company highlights that there are several doctors who work only part-time and are engaged in private practice at other clinics and hospitals. There are binding agreements with these doctors, but there is no assurance of them prematurely terminating these agreements.

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