Narayana Hrudayalaya raises Rs 183.90 crore from anchor investors

Shares allotted to anchor investors at the top end of the price band for the IPO

Narayana Hrudayalaya has raised Rs 183.90 crore by selling 73.56 lakh shares to a total of 15 anchor investors ahead of the opening of the company's initial public offer (IPO). The shares will be allotted to the anchor investors at Rs 250 per share, the top end of the Rs 245 to Rs 250 per share price band for the IPO. The IPO opens for bidding through the book building route today, 17 December 2015 and closes on Monday, 21 December 2015. The price band for the IPO has been fixed at Rs 245-250 per share.

Among anchor investors, Government of Singapore will be allotted 2.90 lakh shares, Monetary Authority of Singapore 2 lakh shares, FIL Investments (Mauritius) will be allotted 4.90 lakh shares, Mirae Asset Asia Sector Leader Equity Fund will be allocated 4.90 lakh shares, Reliance Capital Trustee Co, through its two schemes will be allotted a total of 4.90 lakh shares, Birla Sunlife Trustee Company through its two schemes will be allocated a total of 4.89 lakh shares, HDFC Trustee Company 2.45 lakh shares, ICICI Prudential Growth Fund through its three schemes will be allotted a total of 4.88 lakh shares, DSP Blackrock Small and Mid Cap Fund will be allotted 4.90 lakh shares. UTI Fund through its two schemes will be allocated a total of 4.04 lakh shares, India Pharma Fund Unit Scheme Option A 86,400 shares, Morgan Stanley Mauritius Company will be allotted 9.80 lakh shares, The Nomura Trust and Banking Co will be allocated 4.90 lakh shares and SBI Mutual Fund through its five schemes will be allotted a total of 4.88 lakh shares.

Promoters and some existing shareholders in Narayana Hrudayalaya are selling a portion of their stake through the IPO and there is no fresh issue of equity shares from the company. The promoters are selling a total of 40.87 lakh shares via the IPO. Among existing investors, J P Morgan Mauritius Holdings IV is offloading 1.22 crore shares, Ashoka Investment Holdings is selling 62.87 lakh shares and Ambadevi Mauritius Holding is selling 18.86 lakh shares.

Headquartered in Bengaluru, Narayana Hrudayalaya operates a chain of 23 hospitals, 8 heart centres and 24 primary care facilities across India. The hospitals provide advanced levels of care in over 30 specialties, including cardiology, cardiac surgery, cancer care, neurology, neurosurgery, orthopaedics, nephrology, urology and gastroenterology. The company is currently in the process of commissioning a dedicated paediatric hospital in Mumbai and a multispecialty hospital at Lucknow in Uttar Pradesh.

Based on the consolidated financial performance, Narayana Hrudayalaya reported net profit of Rs 12.48 crore on revenue from operations of Rs 783.36 crore for six months ended September 2015. The company registered a net loss of Rs 10.86 crore on revenue from operations of Rs 1363.85 crore for the year ended 31 March 2015.

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