When is the proposed Medanta Hospital IPO likely to happen?

Medanta Hospitals, operated by Global Health, has filed the draft red herring prospectus or DRHP with SEBI for its proposed IPO. Medanta was founded by star cardiac surgeon, Dr. Naresh Trehan, who hear earlier set Escorts Heart Institute on its path to growth. The IPO of Global Health will comprise of a fresh issue of Rs.500 crore plus an additional offer for sale of 4.84 crore shares, so the actual issue size will be much larger based on pricing.

Carlyle Group, one of the top PE investors in the world, had been an early investor in Medanta. Out of the 4.84 crore shares on offer in the OFS, a unit of Carlyle PE Fund will sell about 4.33 crore shares in the OFS. Medanta plans to use the proceeds from the fresh issue to pay off its debt. Medanta currently runs 4 hospitals in the cities of Gurugram, Indore, Ranchi and Lucknow and has aggressive expansion plans.