Medanta operator Global Health IPO: GMP as all eyes on listing post allotment


The three-day initial public offering (IPO) of Global Health, which operates hospitals under the Medanta brand, was subscribed 9.58 times by the last day of the offer that was open from November 3, 2022 till November 7. The IPO received bids for 44.79 crore shares against 4.67 crore shares on offer, according to NSE data. 

The finalization of basis of share allotment of Medanta operator Global Health IPO has been done earlier this week and now all eyes are on the company’s shares listing.

As per market observers, Global Health shares are available at a premium (GMP) of 20 in the grey market today. The company’s shares are expected to list on the leading stock exchanges BSE and NSE next week on Wednesday, November 16, 2022.

Global Health IPO comprised fresh issuance of shares worth up to 500 crore and an offer-for-sale (OFS) of up to 5,07,61,000 equity shares. The offer had a price range of 319-336 a share. Proceeds from the fresh issue will be used to pay debt and for general corporate purposes. Global Health’s IPO is the largest ever in the hospital space in India till date.

The category meant for Qualified Institutional Buyers (QIBs) got subscribed 28.64 times, while the portion for non-institutional investors was subscribed 4.02 times and that of Retail Individual Investors (RIIs) got subscribed 88%.

Founded by Dr Naresh Trehan, a renowned cardiovascular and cardiothoracic surgeon, Global Health is a leading private multi-speciality tertiary care providers in the north and east regions of India. The company registered a total income of 2,205.8 crore and a profit of 196 crore in FY22.

Under the ‘Medanta brand’, it operates five hospitals in five cities. It provides healthcare services in over 30 medical specialties and engage over 1,300 doctors. Core specialties include cardiology, cardiac science, neurosciences, oncology, digestive and hepatobiliary sciences, orthopaedics.

Its flagship Gurugram facility was ranked as the best private hospital in India for three consecutive years in 2020, 2021 and 2022, and was the only Indian private hospital to be featured in the list of top 200 global hospitals in 2021.

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