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Shalby Hospitals Get SEBI Nod For IPO

Shalby Hospitals Get SEBI Nod For IPO:

Shalby Hospitals and Matrimony.Com have received markets regulator Sebi’s approval to float initial public offerings (IPO).

With this, the total number of firms that have received the regulator’s approval to launch initial share-sale offers in this year reached to 21.

Matrimony.Com, which runs online match making business under BharatMatrimony brand, and multi-speciality hospital chain operator Shalby Hospitals had filed their draft papers with Securities and Exchange Board of India (Sebi) in May.

The regulator issued final “observations” on Matrimony’s IPO proposal on July 13 and Shalby Hospitals’ draft plan on July 14, as per the information available with Sebi website.

Sebi’s observation is necessary for any company to launch its public offer.

Matrimony.Com’s initial public offer (IPO) consists of a fresh issue aggregating up to Rs 130 crore and an offer for sale of up to 3,767,254 equity shares.

The company is expected to raise an estimated Rs 350 crore through an IPO, sources said.

Proceeds from the issue will be utilised for advertising and business promotion activities, purchase of land for construction of office premises in Chennai, repayment of overdraft facilities and general corporate purposes.

Earlier, the company had filed a Draft Red Herring Prospectus (DRHP) with Sebi in 2015 to raise funds through initial share sale but did not go ahead with the plan.

Shalby Hospitals’ public issue comprise fresh sale of shares worth Rs 580 crore besides an offer for sale of 10 lakh shares by promoter Vikram Shah.

Proceeds of the 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.

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

Market Update:

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Eris Lifesciences Ltd IPO (ELL IPO) lists at par. Now Central Depository Services Ltd IPO (CDSL IPO) also listed at over 75% premium.

Au Financiers Ltd (AUFL) IPO also able to list successfully and gave its investors over 51% listing gains.

Now Salasar Techno Engineering Ltd IPO (STEL IPO) bidding completed successfully on July 17, 2017. Now Salasar Techno Engineering IPO Allotment and Listing will be in process.

Current Grey Market Premium (GMP) Of Salasar Techno Engineering Ltd (STEL) IPO is trading at Rs 98 – Rs 100 per equity share.

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 insuranceSBI life insurance IPO etc.

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

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