Wockhardt Hosp IPO in Rs 280-310 price band

Wockhardt Hospitals has fixed the price band between Rs 280 and Rs 310 per equity 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.

The company 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 joint global co-ordinators and book running lead managers to the issue are Citigroup Global Markets India and Kotak Mahindra Capital Company.

The book running lead managers (BRLMs) to the issue are SBI Capital Markets and ICICI Securities.