HealthCare Global goes public

New Delhi: Healthcare Global Enterprises has launched its public offer to raise upto Rs. 650 crores from the primary market through fresh issue of 1.16 crore equity shares. The company plans to sell upto Rs. 1.82 crore shares. The company expects investors to bid for a minimum of 65 Healthcare gl;obal shares in the price band of Rs. 205-218, offer closing March 18.

Healthcare global has an elaborate plan on how the money raised from going public on its shares would be utilised. Healthcare global which is currently running 14 cancer centres and 5 fertility clinics under the brand name Milann plans to increase the former's number by another 12 fresh centres and raise the fertility clinic strength to eight.

The company also plans to utilise Rs. 400 crore of the 650 raised in reduction of debt, capital expenditure and investment in IT infrastructure. It also plans to spend the 20 percent revenue earned from its global facility, through international patients on establishing comprehensive centres in Kenya, Tanzania and Uganda.

Talking about risk concerns Healthcare Global flagged delay in new centres optimisation and partnership as key points.