Healthvista India files draft papers for IPO to raise about Rs 1,000 cr

Healthvista India Limited has filed preliminary papers with regulator Sebi to raise about Rs 1,000 crore through an initial public offering.

The company is an out-of-hospital healthcare provider with brand Portea.

The (Initial Public Offering) comprises fresh issue of equity shares aggregating up to Rs 200 crore and an Offer For sale (OFS) of up to 56,252,644 shares by selling shareholders, according to the Draft Red Herring Prospectus (DRHP).

Under the OFS, Accel Growth III Holdings (Mauritius) Limited; Accel India III (Mauritius) Limited, Ventureast Life Fund III LLC Limited, MEMG CDC Ventures; Qualcomm Asia Pacific Pte Ltd, Accel India V (Mauritius) and Sabre Partners Trust will offload shares.

According to market sources, the is expected to fetch about Rs 1,000 crore.

Proceeds from the fresh issue will be used towards funding working capital requirements of its subsidiary, Medybiz Pharma, payment of debt, purchase of medical equipment, marketing as well as brand building activities, inorganic growth initiatives and general corporate purposes.

SBI Capital Markets, IIFL Securities and JM Financial are the book running Lead managers to the issue. The equity shares of the company are proposed to be listed on BSE and NSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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