Aster DM Healthcare Limited that expects to raise Rs 725 crore from initial share sale on Monday, hopes to attract Malayalis in a big way.
"Though predominant investors will be from Gujarat and Mumbai, we are hopeful that many people from Kerala will also be interested in the hospital shares as 50 percent of our business in India is in the state," said Kartik Thakrar, Financial Controller-GCC, Aster DM Healthcare.
Aster DM Healthcare chairman and managing director Dr Azad Moopen said that this is an opportunity option for Malayalis in Kerala and Gulf to invest in a Kerala based healthcare company. The minimum amount that one can invest is Rs 14,500. "The money raised will be mainly used for the repayment of debt in India and purchase of hospital equipments," said Dr Moopen. Aster DM Healthcare has been conducting roadshows in Mumbai, Ahmedabad and now Kochi.
"We are proud that we are the first healthcare company from Kerala to go public. In fact, there are very few public limited companies in the field of healthcare in India," said Dr Moopen.
Aster DM Healthcare is into hospitals, clinics and pharmacies. While 49 percent contribution of its revenue is from hospitals, 25 percent is from pharmacies and clinics each.
The company's offer opens on February 12 with price band of Rs 180 - Rs 190 per equity share of the company. The IPO consists of offer for sale of up to 13,428,251 equity shares and bids can be made for a minimum of 78 equity shares and in multiples of 78 equity shares thereafter. The offer closing date is February 15, 2018.
They plan 10 new hospitals, of which five will come in India and will add 1,700 beds. The company will also open five new hospitals and a number of clinics and pharmacies in the GCC countries. The hospital chain at present generates more than 80 percent revenue from its hospitals in GCC countries. "Now we are looking at entering small towns after the Union budget's thrust on healthcare. But we are yet to identify the places we would be investing," added Dr Moopen. – TOI