MUMBAI: Wockhardt Hospitals Ltd has fixed the price band for its initial public offering of 2,50,87,097 equity shares of Rs 10 each between Rs 280 and Rs 310 per share.
The company filed a red herring prospectus with the Registrar of Companies, Maharashtra, at Mumbai, on Jan 17.
The issue comprises a net issue to the public of 24,5,87,097 shares of Rs 10 each (the net issue) and a reservation of up to 5,00,000 shares for employees. The issue will constitute 24.06 per cent of the post-issue paid up share capital.
The IPO has been assigned an IPO grade of 4/5 by Fitch, indicating above average fundamentals.
Wockhardt Hospitals intends to utilise the proceeds from the issue to meet the cost of development and construction of greenfield and brownfield hospitals of the company, prepay some of the short term loans and to meet general corporate expenses.
The shares are proposed to be listed on the Bombay Stock Exchange National Stock Exchange of India.
The company filed a red herring prospectus with the Registrar of Companies, Maharashtra, at Mumbai, on Jan 17.
The issue comprises a net issue to the public of 24,5,87,097 shares of Rs 10 each (the net issue) and a reservation of up to 5,00,000 shares for employees. The issue will constitute 24.06 per cent of the post-issue paid up share capital.
The IPO has been assigned an IPO grade of 4/5 by Fitch, indicating above average fundamentals.
Wockhardt Hospitals intends to utilise the proceeds from the issue to meet the cost of development and construction of greenfield and brownfield hospitals of the company, prepay some of the short term loans and to meet general corporate expenses.
The shares are proposed to be listed on the Bombay Stock Exchange National Stock Exchange of India.
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