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Shalby Hospitals Files IPO Papers With SEBI

Shalby Hospitals Files IPO Papers With SEBI:

As informed before that Shalby Hospitals can also join the list of IPO for the current month. Now as per latest update Shalby Hospitals has filed draft paper with capital markets regulator Sebi to float an Initial Public Offering (IPO).

The public issue comprise fresh sale of shares worth Rs 580 crore besides an offer for sale of 10 lakh shares by promoter Vikram Shah, according to draft red herring prospectus (DRHP).

Proceeds of the initial public offer (IPO) will be utilised towards repayment of certain borrowings availed by the company besides purchasing medical equipment for existing, recently set-up as well as upcoming hospitals.

Also, the company plans to spend the funds for purchase of interior and infrastructure for upcoming hospitals and a portion will be kept for general corporate purposes.

Shalby was founded in 1994 by Shah as six bed facility in Ahmedabad, now it has a chain of 11 multi-specialty hospitals — eight fully operational and three set up recently.

Currently, the firm has a total capacity of 2,012 beds, as per Shalby’s website.

Edelweiss Financial Services Ltd, IDFC Bank Ltd and IIFL Holdings Ltd are the book running lead managers to the issue.

The equity shares are proposed to be listed on the BSE and the NSE.

Earlier this month, pharmaceutical firm Eris Lifesciences had received Sebi’s approval to raise an estimated Rs 2,000 crore through an IPO.

Market Update:

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Housing and Urban Development Corporation Ltd IPO (HUDCO) listing is also successfully completed.

PSP Projects Ltd(PPL) IPO bidding is also over. Now PSP Projects IPO Allotment and listing is in process.

Indigrid Invit Fund IPO bidding also able to close successfully on May 19, 2017.

Next in the pipeline will be Central Depository Services Ltd IPO (CDSL IPO)  and Continental Warehousing Corporation Ltd IPO (Nhava Seva IPO).

Some SME IPO will also be active in market in coming week.

This year we can see some good IPO hitting market like NSE Ltd IPOHDFC Standard life insurance, SBI life insurance etc.

Keep watching this blog to keep yourself updated with all the news.

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