The issue will close on November 7.
The total issue size of the IPO is ₹2,205 crore, which includes a fresh issue of ₹500 crore and an offer for sale (OFS) of up to ₹1,705 crore via the sale of 5.08 crore equity shares by the company’s shareholders and promoters that includes the Carlyle Group and Sunil Sachdeva.
The price band of the IPO is set at ₹319-336 a share.
The proceeds from the IPO will be utilised towards repaying a debt to the tune of Rs 375 crore borrowed to build Lucknow and Patna hospitals.
Medanta operates five hospitals under the Medanta brand in Gurugram, Indore, Ranchi, Lucknow and Patna. It has another hospital under construction in Noida. The company plans to add 1000 new beds by FY25, to take the overall bed capacity to 3500. Medanta reported revenues of Rs 2,166 crore and a net profit of Rs 196 crore in FY22.