Rs 600 cr Narayana Hrudayalaya IPO: Balancing affordable healthcare and the impending pressure for profits

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He is more relaxed in his doctor’s scrubs than in a formal business suit and more comfortable delivering clipped instructions through a surgical mask at an operating table rather than behind a microphone talking about business profits. It is certainly a new avatar of Dr Devi Shetty, who is taking his Narayana Hrudayalaya public this week.


Narayana Hrudayalaya, which is set to hit the primary markets with a Rs 613-crore IPO tomorrow, today said it raised Rs 184 crore from 15 anchor investors, including Singapore government, at the upper price band.



The Devi Shetty-run hospital company has allotted 73.57 lakh equity shares at Rs 250 per share aggregating to Rs 183.93 crore to anchors investors like Morgan Stanley, Mirae Asset Management, Nomura, Government of Singapore, Reliance AMC, Birla Sun Life, DSP Blackrock, UTI, ICICI Prudential, SBI MF among others.



The IPO opens on December 17 and closes on December 21 and the company has set price band of Rs 245-250 for the sale.



Post-IPO, promoters would have 65 per cent stake in the company.

The IPO includes an offer of sale of up to 2.45 crore equity shares representing 14.04 per cent stake in the company by the promoters and other existing shareholders.