The IPO of Wockhardt Hospital, one of the largest private healthcare services companies in India, was slated to close today but it has extended the date of the issue by two days, which means now it will close on February 7, 2008. It has got subscribed just 0.02 times as per NSE website. Not a single big investor has given support to the issue till now, only few retail investors helped the issue to some extent.
Negative sentiment in the markets has forced Wockhardt Hospitals to lower price band from Rs 280-310 to Rs 225-260 per share for its initial public offering (IPO) of 25,087,097 equity shares of Rs 10 each for cash at a price determined through a 100% book building process.
The issue comprises a net issue to the public of 24,587,097 equity shares of Rs 10 each and a reservation of upto 500,000 equity shares for subscription by eligible employees. The issue will constitute 24.06% of the post-issue paid up equity share capital of the company.
Wockhardt Hospitals intends to utilise the proceeds from the issue to meet the cost of development and construction of greenfield and brownfield hospitals of the Company, prepay some of the short term loans and to meet general corporate expenses.
The equity shares are proposed to be listed on Bombay Stock Exchange and the National Stock Exchange of India.
The joint global co-ordinators and book running lead managers to the Issue are Citigroup Global Markets India Private Limited and Kotak Mahindra Capital Company Limited. The book running lead managers to the Issue are SBI Capital Markets Limited and ICICI Securities Limited.
Source: Moneycontrol.com
Tuesday, February 5, 2008
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment