Wockhardt Hospitals Ltd plans to raise over Rs 812 crore from its proposed initial public offering, for which it has filed papers with the Securities and Exchange Board of India.
The Wockhardt Ltd subsidiary will take the book building route for its 3 crore equity share float of Rs 10 each. The issue will constitute 28.77% of the post-issue capital.
The company is also considering a pre-IPO placement of up to 75 lakh shares, following which the net issue will reduce by that number, subject to minimum 10% of the post issue capital.
Wockhardt Hospitals plans to use the IPO proceeds to meet the cost of development and construction of greenfield and brownfield hospitals estimated at Rs 617.2 crore and prepay some of the short term loans estimated at Rs 195 crore.The equity shares will be listed on the Bombay Stock Exchange and National Stock Exchange.
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