Today's late morning deals saw a full subscription to Global Health Limited's initial public offering (IPO). On the third and final day of the bidding, the company received offers for 5.14 crore shares against an IPO size of 4.67 crore shares, equivalent to a subscription of 110%. The price range for the company's shares is between Rs 319 and Rs 336. The share sale is anticipated to bring in Rs 2,206 crore at the upper end of the pricing range. Today, 1.94 times the permitted amount of the quota for non-institutional investors was subscribed, compared to 42% of the allotted amount for retail investors.
On November 4, the second day of the IPO, 49% of the issue was subscribed. According to provisional exchange data, Global Health, the company that runs Medanta hospitals, received bids for 2.3 crore of the 4.7 crore shares that were up for sale.
Qualified institutional buyers (QIBs) will receive 50% of the entire IPO, non-institutional investors (high net worth individuals) would receive 15%, and retail investors will receive 35%.
For 44 shares, the lot size of the Global Health IPO, one must pay Rs 14,784. Using Rs 1,92,192, a retail individual investor may place bids on up to 13 lots, or 572 shares. According to IPO Watch, the grey market premium (GMP) for the Global Health IPO was Rs 15 as of today. This indicates that the stock will probably list at Rs 351. The company will announce the share distribution on November 11, 2022.
On November 16, the shares are most likely to make their BSE and NSE debuts. KFin Technologies Limited serves as the IPO's registrar. A fresh issue of equity shares totaling Rs 500 crore and an offer for sale (OFS) of up to 5.08 crore equity shares by the company's owners and promoters make up the initial public offering (IPO).
The book running lead managers for the Global Health IPO are Kotak Mahindra Capital Company Limited, Credit Suisse Securities (India) Private Limited, Jefferies India Private Limited, and JM Financial Limited. Presently, the promoter owns 35.03 percent of the business. This will decrease to 33.08% after the IPO. Public ownership will rise from its current level of 64.97% to 66.92%. On November 2, anchor investors contributed Rs 662 crore to Global Health. It will distribute 1.97 billion equity shares at a price of Rs 336 each, totaling around Rs 662 crore in the deal. Government of Singapore, Nomura, Axis MF, HDFC MF, Aditya Birla Sun Life MF, SBI MF, ICICI Prudential MF, Kotak MF, Max Life Insurance Company, and SBI Life Insurance Company are some of the anchor investors.