Goodwill Hospital gets Sebi nod for IPO

Posted By: Religare
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Goodwill Hospital gets Sebi nod for IPO
Goodwill hospital and Research Centre finally succeeded in getting a nod from Securities and Exchange Board of India to raise funds to the tune of Rs 62 crore, through an initial public offering.

The hospital that comes under the umbrella of the brand Ojjus Medicare intends to utilize the proceeds from the IPO to set up a diagnostic centre at Faridabad. Some parts of the proceeds would also be used to establish a polyclinic in Noida, where the centre in currently running a multi-speciality hospital.

The proposed issue will be made through a 100% book building process and the proposal to list the equity share of Goodwill has also been made.

Talking about the future prospects of the centre, through the IPO, investment would be done towards building a complete diagnostic centre at the hospital. The complete investment would be guided by its wholly-owned subsidiary Ojjus Fidelity Healthcare.

Further, talking about the polyclinic at Faridabad, the polyclinic is intended to be designed for high-end treatment in neuro, cardiac, orthopaedics and minimal invasive surgery.

Read more about: ipo, pharma
Story first published: Tuesday, July 26, 2011, 9:31 [IST]
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