Global Health – operator of the Medanta chain of hospitals – will launch its IPO on Thursday, November 3, raising Rs 2,206 crore. The IPO is a new issue of shares worth up to Rs 500 crore and Rs 1,706 crore to existing shareholders. Bids will be held from 10 am to 5 pm for three trading days until November 7. Global Health shares will likely be listed on the BSE and NSE stock exchanges on November 16.

Potential investors can bid for Global Health shares at Rs 319-336. Bids of 44 lots will be allowed – meaning investors will have to pay Rs 14,036-14,784 per lot. Up to 50% of the offering is reserved for qualified institutional buyers, at least 15% for high-net-worth individuals, and the remaining 35% for retail investors.

According to its red herring prospectus, Global Health posted a net profit of Rs 196.2 crore in the financial year ended March 2022, 6.8 times the previous year’s net profit. Its revenue was Rs 2,166.6 crore, up year-on-year Compared with the same period last year, it increased by 49.8%.

Choice Broking recommends a subscription to Medanta’s IPO, which it sees as attractively priced. At the high end of the price range, Global Health requires an EV/sales multiple of four, below the peer average, the brokerage said. This selection benefits the company’s strong long-term structural factors and expected business growth.