Unexpected much better (+20%) Listing Gain.
Global Health Limited IPO
i. Global Health Limited is one of the largest private multi-speciality tertiary care providers operating in the North and East regions of India in terms of bed capacity and operating revenues amongst the players that operate in the North and East regions of India, with key specialties of cardiology and cardiac science, neurosciences, oncology, digestive and hepatobiliary sciences, orthopaedics, liver transplant, and kidney and urology.
ii. Under the “Medanta” brand, they have a network of five hospitals currently in operation (Gurugram, Indore, Ranchi, Lucknow and Patna) and one hospital (Noida), which is under construction. As at June 30, 2022, they provide healthcare services in over 30 medical specialties and engage over 1,300 doctors led by experienced department heads and, spanning an area of 4.7 million sq. ft., their operational hospitals have 2,467 installed beds.
iii. Global Health Limited was founded by Dr. Naresh Trehan, a world-renowned cardiovascular and cardiothoracic surgeon. He has been awarded the prestigious Padma Bhushan and the Padma Shri, the third and fourth-highest civilian awards in India, and the BC Roy award, in recognition of his distinguished contribution to medicine as well as a special award for outstanding contributions as ‘Indian Father of Cardiac Surgery’ by the American Association of Cardiologists of Indian Origin.
iv. Dr. Trehan is the driving force behind the hospitals. They strive to deliver advanced healthcare by establishing institutes of excellence that integrate medical care, teaching and research all while providing affordable medical services to patients. Their hospital at Gurugram was ranked as the best private hospital in India for three consecutive years in 2020, 2021 and 2022, and was the only Indian private hospital to be featured in the list of top 200 global hospitals in 2021 and was featured in the list of top 250 global hospitals in 2022 by Newsweek.
v. As at March 31, 2020, they had 2,141 installed beds, which grew to 2,467 installed beds as at June 30, 2022, representing a growth of 15.23%. Upon operation of its Noida hospital in Fiscal 2025, we expect the number of total installed beds to exceed 3,500 at the end of Fiscal 2025, which will cater to domestic and international patients as part of its strategy to capitalize on medical tourism.
- Leading tertiary and quaternary care provider in India, well recognised for clinical expertise in particular in dealing with complicated cases.
- Focus on Clinical Research and Academics.
- Large-scale hospitals with world-class infrastructure, high-end medical equipment, and technology.
- Focus on under-served areas with dense population and presence in top or capital cities of large states (NCR, Lucknow and Patna).
- Experienced senior management team with strong institutional shareholder support.
- Growth opportunities in existing facilities and diversification into new services, including digital health.
Objects of the Global Health Limited IPO:
Global Health Limited IPO Details:
|Open Date:||Nov 03 2022|
|Close Date:||Nov 07 2022|
|Face Value:||₹ 2 Per Equity Share|
|Issue Type:||Book Built Issue|
|Issue Size:||2206 Cr.|
|Lot Size:||44 Shares|
|Issue Price:||₹ 319-336 Per Equity Share|
|Listing Date:||Nov 16 2022|
Promoters And Management:
Financials of Global Health Limited IPO:
|Particulars (in crores)||Mar-22||Mar 21||Mar-20|
|Revenue from operations||2166||1446||1500|
|Cost of Materials Consumed||508||340||324|
|Purchase of stock in trade||37||12|
|Change in Inventories||-2||-5|
|Employee Benefit Expense||567||466||538|
|Impairment losses on financial assets||3||6||11|
|Profit (Loss) before tax||280||32||63|
|Profit (Loss) for the period||196||28||36|
Comparison With Peers:
|Name of the Company||Revenue||PAT||3 Year Rev.Growth||3 Year PAT. Growth||3 year Stock Return||Debt||RONW||Mcap||P/E|
Recommendation on Global Health Limited IPO:
Review and Recommendation of Medanta IPO by IZ team is 5/10 1. Medanta is one of the largest private multi-speciality tertiary care providers operating in the North and East regions of India in terms of bed capacity and operating revenues. 2. Company has a network of six hospitals that are currently running under the "Medanta" brand name. These hospitals are located in Gurugram, Indore, Ranchi, Lucknow, and Patna. Noida is the only hospital in the network that is still in the building phase. 3. As at June 30, 2022, Medanta provide healthcare services in over 30 medical specialties and engage over 1,300 doctors led by experienced department heads and, spanning an area of 4.7 million sq. ft., operational hospitals have 2,467 installed beds. 4. Medanta was founded by Dr. Naresh Trehan, a world-renowned cardiovascular and cardiothoracic surgeon. He has been awarded the prestigious Padma Bhushan and the Padma Shri, the third and fourth-highest civilian awards in India, and the BC Roy award. 5. Revenue has grown from 1500 Crores in Fy20 to 2100 Crores in Fy22. 6. PAT has grown from 36 Crores in Fy20 to 200 Crores in Fy22. 7. The Vedanta IPO is coming at P/E of 46 and Mcap of 9000 Crores which seems to be look reasonably priced.
Lead Manager of Global Health Limited IPO:
Registrar of Global Health Limited IPO:
Discussion on Global Health Limited IPO:
Overall response is cold. Shall I withdraw my application of 740 shares?
Why retail subscription is poor?
Leave a Reply
You must be logged in to post a comment.