Shalby Hospitals files IPO papers with Sebi

Shalby Hospitals has filed draft paper with capital markets regulator Sebi to float an initial public offering.
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.

In recent times, healthcare services firms Alkem Laboratories, Dr Lal Pathlabs Ltd, Narayana Hrudayalaya Ltd and Thyrocare Ltd have tapped the primary market through IPO route.