You are here: Home » PTI Stories » National » News
Business Standard

Shalby garners Rs 150 cr from anchor investors

Press Trust of India  |  New Delhi 

Ahmedabad-based multi-specialty hospital chain Shalby Ltd today raised over Rs 150 crore from anchor investors, ahead of its initial share-sale, which opens tomorrow.

The company's IPO committee has finalised allocation of 60,70,150 equity to 11 anchor investors at Rs 248 apiece, also the upper price band for the offer, Shalby informed to the stock exchanges.

At this price, the total amount works out to be Rs 150.54 crore, it added.

Among the anchor investors are Goldman Sachs, Citigroup, Nippon Life Company, Nomura and Life Company.

Shalby's initial public offer (IPO) will open for public subscription tomorrow and close on December 7.

The IPO comprises a fresh issue of equity aggregating up to Rs 480 crore and an offer for sale of up to 10 lakh equity by the selling shareholder.

The price band has been fixed at Rs 245-248 per share. At the upper end, the public issue would fetch Rs 504 crore.

Proceeds of the IPO will be utilised towards repayment of borrowings availed by the company besides purchasing medical equipment for existing, recently set-up as well as upcoming hospitals.

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

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, December 04 2017. 20:30 IST