Indian Indices Snap 3-Day Winning Streak To End Flat; Sun Pharma & BPCL Among Top Losers

The IPO comprises a fresh issue of equity shares worth Rs 3.9 bn and an offer for sale (OFS) of up to 39.10 million shares by existing shareholders and promoters.

The OFS will see sales of up to 39 million shares by Quinag Acquisition (FDI) and up to 1 lakh shares by Mahadevan Narayanamoni. Currently, Quinag Acquisition FDI holds a 99.79% stake in the firm.

ICICI Securities, CLSA India, Credit Suisse Securities India, and Nomura Financial Advisory and Securities India are lead managers to the issue.

Proceeds from the issue, worth Rs 500.9 m, will be used to repay debt, while Rs 1.8 bn will be invested into its arm Sironix, Clinisupplies, and Quality Needles, and Rs 580 m will be used for acquisition and other strategic initiatives.

Healthium Medtech focuses on products used in surgical, post-surgical, and chronic care. It operates across India, the UK, and the rest of the world and four focus areas, namely, advanced surgery, urology, arthroscopy, and wound care.

How the IPO sails through remains to be seen. Meanwhile, stay tuned for more updates from this space.

1 2 3
View single page >> |

Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.