Business   

Wockhart Hospitals to tap market

NEW DELHI: Healthcare services provider Wockhardt Hospitals on Monday announced that it would raise Rs. 800 crore through an initial public offering (IPO) to repay debt and fund its expansion plans, which include setting up of 17 new hospitals by 2010. It will hit the capital market with an issue of over 2.5 crore equity shares of Rs. 10 each in the price band of Rs. 280-310 per share on January 31. The issue will close on February 5.

“We are one of the healthcare companies in India which are making profit and we intend to grow rapidly with a focused approach on the sector. The company will raise Rs. 800 crore, of which nearly Rs. 569 crore would go into expansion, while Rs. 285 crore would be spent in repaying unsecured debt,” Wockhardt Hospitals’ Managing Director Anil Kamath told reporters here.

Of the proposed 17 new hospitals, 11 would be brownfield and the balance would be greenfield.

The new hospitals would be set up in Mumbai, Delhi, Bangalore and Kolkata, while the brownfield hospitals would come up in tier-II cities like Goa, Bhopal, Bhavnagar, Nashik, Ludhiana, Jabalpur, Bhuj, Patna, Hubli and Varanasi.

Printer friendly page  
Send this article to Friends by E-Mail

Stories in this Section

RBI hints at moderation in economic growth
Toyota President meets Manmohan Singh
HCL Info posts higher revenue and profits
‘Sense of mistrust’ obstacle to sign FTA with Bangladesh
Sundaram Business’ Madurai facility
Wockhart Hospitals to tap market
SEBI signs MoU with Pakistan SEC
RNRL seeks coal blocks
Sensex sheds 209 points
Rupee ends lower
Exchange Rates
Bullion Rates
BNP Paribas infuses Rs. 570 crore
IRDA approves HDFC stake sale
Reliance Power IPO refund by Feb. 1
CCS Infotech opens multi-brand outlet
Gemini Commn. revenue up 17 p.c.
Sharp rise in Britannia’s net
Shasun to set up facility in U.S.
PepsiCo launches Tropicana Twister
Jet Airways suffers Rs. 91 cr. loss
Spurt in Bartronics net profit

Copyright © 2008, The Hindu. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu