Skip to content
Brand owner Medanta Global Health and Veeda Clinical get green light from Sebi to launch Ipos

 | Business News Today

Brand owner Medanta Global Health and Veeda Clinical get green light from Sebi to launch Ipos

| Breaking News Updates | News Today


Global Health Ltd, which operates and manages hospitals under the Medanta brand, and clinical research organization Veeda Clinical Research have received the green light from market regulator Sebi to raise funds through an initial public offering (IPO ).

The companies, which filed their preliminary IPOs with Sebi in September, got their comments on December 21, according to an update with the regulator on Monday.

In Sebi parlance, issuing a comment letter implies its green light for the IPO. According to preliminary documents, Global Health’s IPO consists of a new issue of shares totaling Rs 500 crore and an offer to sell up to 4.84 crore of shares. .

Also read:

As part of the Offer for Sale (OFS), Anant Investments, a subsidiary of large private equity firm Carlyle Group, will sell up to 4.33 crore of shares and Global Health co-founder Sunil Sachdeva (together with Suman Sachdeva) will discharge at 51 lakh shares. The proceeds from the new issue will be used to pay off debt and general corporate needs.

Co-founded by renowned cardiovascular and cardiothoracic surgeon Naresh Trehan, Global Health is one of the leading private providers of multi-specialty tertiary care in the northern and eastern regions of India.

Veeda Clinical Research’s Rs 831 crore IPO consists of an issue of new shares worth up to Rs 331.60 crore and an OFS of Rs 500 crore by existing promoters and shareholders.

Investors participating in OFS include CX Alternative Investment Fund totaling up to Rs 8.08 crore, Rs 90.19 crore by Arabelle Financial Services, Rs 259.77 crore by Bondway Investment Inc, Rs 0.04 crore per Stevey International Corporation and Rs 141.93 crore by Basil Private Ltd.

The company intends to use the net proceeds of the new issue for debt repayment, financing of capital expenditures, financing of the continued acquisition of the subsidiary Bioneeds India, financing of the needs in working capital in addition to general business objectives.

(Edited by : Jomy Jos Pullokaran)

Brand owner Medanta Global Health and Veeda Clinical get green light from Sebi to launch Ipos

| Local Business News Local news
cnbctv18-forexlive-benzinga -Sp

Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.