Initial public offering (IPO) of Wockhardt Hospitals seems to be in big trouble following the poor response from investors. Even extension of closing date can not help the company to attract investors. IPO of the company subscribed 15% till 2.00 pm on closing day. The company received 3.87 million bids as against issue size of 25.08 million shares. The price band has been fixed between Rs 225 to Rs 260 a share.
The equity shares of the company, offered through this IPO, are proposed to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). Citigroup Global Markets India, Kotak Mahindra Capital, ICICI Securities and SBI Capital Markets are helping the company to raise funds via this public issue.
Wockhardt Hospitals is a private healthcare services company. It was incorporated on Aug. 28, 1991 as First Hospitals and Heart Institute and got its present name on Oct. 19, 2000. The company has a super-specialty focus on core areas such as cardiology and cardiac surgery, neurology and neurosurgery, orthopedics, urology and nephrology, and critical care. It specializes in minimally invasive surgery. The regional specialty intensive care unit (ICU) hospitals provide basic tertiary and higher secondary care, act as referral centers and the first point of critical care for its larger super-specialty hospitals, which provide advanced tertiary and higher secondary care. It has a strategic relationship with Harvard Medical International, a self-supporting not-for-profit subsidiary of Harvard Medical School. Separate and specific training programs exist for doctors, nurses, paramedical professionals and management personnel.
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