Narayana Hrudayalaya is set to raise Rs.613 crore share via the Initial Public Offer route with up to 24,523,297 equity shares of face value of Rs.10 Each at a price band from Rs.245 to Rs.250 per equity share. The IPO closes on December 21, 2015. The Book Running Lead Managers to the offer are Axis Capital Limited, IDFC Securities Limited and Jefferies India Private Limited.
It includes a share premium through an offer for sale of up to 6,287,978 equity shares by Ashoka Investment Holdings Limited, up to 1,886,455 equity shares by Ambadevi Mauritius Holding Limited, up to 12,261,648 equity shares by JP Morgan Mauritius Holdings IV Limited. Dr. Devi Shetty and Shakuntala Shetty will also sell 2,043,608 equity shares. The offer will constitute approximately 12 per cent of the post-offer paid-up share capital. The minimum bid lot is for 60 equity shares and in multiples of 60 equity shares thereafter.
As per the Red Herring prospectus, the 15-year-old Bengaluru-based Narayana Hrudayalaya with a network of 23, 8 heart centres and 24 primary care facilities across 31 locations in the country, with 5,442 operational beds has indicated the potential to reach a capacity of up to 6,602 beds. In FY 2015, the facilities provided care to over 1.97 million patients. The healthcare provider has a major presence in the southern states and eastern India, with an emerging presence in western and central India. Ending September 30, 2015, its employee count stood at 11,163, 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.