The Bengaluru-based healthcare service provider, Narayana Hrudayalaya's Initial Public Offering (IPO) will hit the capital market on December 17.

The company had filed its draft red herring prospectus (DRHP) with SEBI on 29 September. The market regulator issued its final observation regarding the IPO on 27 November.

Dr Devi Shetty is the chairman of the company and is also an executive director. The company was founded in the year 2000, the company has a network of 23 hospitals, 8 heart centres and 24 primary care facilities.

Here are 7 things to know about the company's IPO

1. Narayana Hrudayalaya has fixed the price band between Rs 245 and Rs 250 for its initial public offer (IPO)

2. The IPO will hit the capital market on December 17 and close on December 21.

3. Going by the Rs 245 - Rs 250 price band offered per equity share, Narayana Hrudayalaya would raise up to Rs 601 crore - Rs 613 crore.

4. Those participating in the share sale include company's main promoter and founder Devi Prasad Shetty. JP Morgan Mauritius, Ashoka Investment Holdings and Ambadevi Mauritius Holding are other investors who would be offering shares in the IPO.

5. Post IPO, the promoters will hold 65 per cent stake in the company.

6. The shares would be listed on the NSE and the BSE. The minimum bid size is 60 shares and multiples of 60 shares thereafter.

7. Axis Capital, IDFC Securities and Jefferies India are the book running lead managers to the issue.

Narayana Hrudayalaya will be the third company in the country's healthcare sector to launch an IPO this month.

Recently, Dr Lal PathLabs and Alkem Laboratories launched their IPO on December 8.

With inputs from PTI