Global Health IPO Subscription Status: Issue gets 9.58 times bidding on last day of offer - Details!

The initial public offering (IPO) of Global Health, which operates hospitals under the Medanta brand, was subscribed 9.58 times on the last day of the offer on Monday.

The IPO received bids for 44.79 crore shares against 4.67 crore shares on offer, according to NSE data.

The category meant for Qualified Institutional Buyers (QIBs) got subscribed 28.64 times, while the portion for non-institutional investors was subscribed 4.02 times and that of Retail Individual Investors (RIIs) got subscribed 88 per cent.

The IPO comprises fresh issuance of shares worth up to Rs 500 crore and an offer-for-sale of up to 5.07 crore shares.

The offer has a price range of Rs 319-336 a share. At the upper end of the price band, the company is expected to fetch Rs 2,206 crore.

Last week, Global Health said it has mobilised Rs 662 crore from anchor investors.

Proceeds from the fresh issue will be used to pay debt and for general corporate purposes.

Founded by Naresh Trehan, a renowned cardiovascular and cardiothoracic surgeon, Global Health is a leading private multi-speciality tertiary care provider in North and East regions of India.

Global Health, backed by private equity investors such as Carlyle Group and Temasek, operates a network of five hospitals under 'Medanta' brand in Gurugram, Indore, Ranchi, Lucknow and Patna.

In addition, one hospital is under construction in Noida.

Credit Suisse Securities (India), Jefferies India, JM Financial and Kotak Mahindra Capital are the managers to the offer.