In the healthcare sector, 2 organizations have received the green light from SEBI (Securities and Exchange Board of India) to float their IPOs (Initial Public Offerings).
Global Health runs healthcare centres under the Medanta Brand while Veeda Clinical Research is a clinical research organization.
To know more details regarding these two IPOs, read below.
Key Highlights from Global Health IPO
- Both these companies had filed their DRHP (Draft Red Herring Prospectus) in September 2021. They received their observations on 21 December 2021. In SEBI speak, an observation notification implies that SEBI has approved the request to float the IPO.
- According to the DRHP papers, Global Health’s IPO consists of a new issue of equity shares of Rs. 500 crores and an offer of sale. The offer of sale or OFS consists of84 crore equity shares.
- The promoters that are diluting their shares are as follows: Anant Investments which is a part of the Carlyle Group (a private equity funding company) will be divesting of 4.33 crore equity shares.
- The co-founder of Global Health will divest up to 51 lakh shares of equity.
- The money raised from the IPO will be used for clearing debts and general corporate requirements.
Key Highlights from Veeda Clinical Research IPO
- Veeda Clinical Research has a dual flavoured IPO as well.
- There will be a new issue of equity shares and an offer of sale.
- The new issue of equity shares is up to Rs. 331.60 crores.
- An OFS (offer of sale) is up to Rs. 500 crores by existing shareholders and promoters.
- Here is a break-down of the OFS:
|CX Alternative Investment Fund||Rs. 8.08 crores|
|Arabelle Financial Services||Rs. 90.19 crores|
|Bondway Investment Inc.||Rs. 259.77 crores|
|Stevey International Corporation||Rs. 0.04 crores|
|Basil Private Limited||Rs. 141.93 crores|
- The company will use the capital raised from the IPO for the following reasons:
- Clearing outstanding debts
- To fund capital expenses
- Funding Bioneeds India (a subsidiary)
- General corporate requirements
- Working capital requirements
It remains to be seen how these companies will perform once they float their IPOs. If you are keen to invest in the shares of either of these companies, you can do so via Angel One. Also, invest only after thorough studying and research into the background of these companies.
Frequently Asked Questions
- Who are the founders of Global Health?
Ans. The founders of Global Health are Sunil Sachdeva and Naresh Trehan.
- Who are the book running lead managers to the Veeda Clinical Research IPO?
Ans. The book running lead managers are:
- What is Veeda’s stake in Bioneeds?
Ans. Veeda has a stake of 50.10% in Bioneeds.
Disclaimer: This blog is exclusively for educational purposes and does not provide any advice/tips on investment or recommend buying and selling any stock.