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The price band of Goodwill Hospital and Research Centre Ltd's Initial Public Offering (IPO) of Rs 62 crore has been fixed at Rs 175-185 a share.
The company, which is running a multi-speciality hospital under the name of “Ojjus Medicare,” proposes to issue a ‘detachable warrant' per equity share offered.
“This warrant will be tradable along with the listed stock. These are also optionally convertible at 20 per cent discount,” said Mr Kamal Somani, Managing Director, SPA Securities Limited, the Book Running Lead Manager (BRLM) to the issue. This warrant will have to be compulsorily converted to equity after a 13-month period.
“The last public issue that gave the option of detachable warrants was that of Orbit Corporation — which was four years ago,” said Mr Nitin Somani, Company Secretary, SPA Merchant Bankers.
The issue opens on December 30 and closes on January 9. The company plans to utilise the IPO proceeds to set up a diagnostic centre at Faridabad, six polyclinics in Tier-II cities with Noida and for repayment of loans.
The shares are proposed to be listed on the BSE and the NSE. Beetal Financial and Computer Services is the Registrar to the issue.
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