Joining the IPO bandwagon, New Delhi Centre for Sight has filed draft papers with capital markets regulator Sebi to raise funds through the initial share sale route.
The initial public offer (IPO) comprises fresh issue of shares worth Rs 115 crore and an offer for sale of up to 25.47 lakh equity shares by existing shareholders.
The proceeds of the issue would be used for construction of super-speciality eye care centre in Dwarka, establishment of six new eye care centres, payment of certain loans availed by the company and for other general corporate purpose.
Also, the funds would be utilised towards purchase of shares from other shareholders of CFS Netralaya, NVLC Hyderabad, NVLC Rajkot and Shree Hi-Tech.
Further, the company plans to sell up to 10.91 lakh shares of total value Rs 60 crore with 'certain investors' ahead of the IPO.
The issue is being managed by ICICI Securities and Axis Capital.
Apart from the proposed issue, several firms in the heathcare sector such as Narayana Hrudayalaya, Dr Lal PathLabs, Healthcare Global Enterprises, Alkem Laboratories are planning to launch IPOs.
Since the beginning of 2015, as many as 41 companies have filed draft documents with Sebi to float IPOs. In the same period, the market watchdog gave approval to 31 firms to launch their initial share sale plans, some of which were pending from previous year.
This year, 18 companies have so far launched IPOs and have collectively raised nearly Rs 11,000 crore, making it the best in four years in terms of fund raising through initial share-sale programmes.
In comparison, six IPOs had hit the market in the entire 2014 and together garnered just Rs 1,261 crore, while three firms had launched their public issues in 2013 to mobilise Rs 1,284 crore.
