Max Healthcare raises Rs 1,200 cr via QIP issue route

NEW DELHI: Max Healthcare Institute Ltd (MHC) on Wednesday stated it has raised Rs 1,200 crore through subject of securities. The corporate, which is the nation’s second largest personal hospital chain, has raised the capital via certified institutional placement (QIP).

The QIP opened on March 4, 2021, and closed on March 9, 2021.

The healthcare main has accordingly issued 6,14,12,482 recent fairness shares of face worth of Rs 10 per share at a value of Rs 195.40 per share, MHC stated in a press release.

Submit the QIP, the issued and subscribed fairness share capital of MHC stands at 96,59,45,006 fairness shares, it added.

MHC proposes to utilise the web proceeds for assembly the capital expenditure and dealing capital necessities, together with enlargement of capability, growing stake in present/future subsidiaries and many others, it stated.

The corporate may additionally use a part of the proceeds for compensation of debt and for normal company necessities or another functions as perhaps permissible, it added.

“We want to thank traders for his or her overwhelming response in the direction of our QIP. With this, we have now fortified our steadiness sheet to faucet progress alternatives and likewise strengthened our investor base with blue chip home mutual funds and international lengthy solely funds,” Max Healthcare Chairman and Managing Director Abhay Soi stated.

MHC will proceed to supply high-end medical look after sufferers by investing in cutting-edge scientific applied sciences, infrastructure, scientific and administration expertise, he added.

Pursuant to this subject, the general public shareholding of MHC stands at 29.54 per cent.

Nevertheless, this contains 4.82 per cent which isn’t at present thought-about for compliance in the direction of minimal public shareholding threshold underneath Sebi rules for listed firms.

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