Wockhardt Hospitals Ltd is looking forward with Rs 800-1000 crore IPO to fund its expansion and other plans. Wockhardt filed draft prospectus with SEBI on Friday Aug 23.
The healthcare major is building five new hospitals at Kolkata, Delhi, Mumbai, Kalyan, and expanding the existing Mumbai facility. It is expanding into seven tier-2 cities through ‘brown-field' projects - all at an estimated expenditure of Rs 617.25 crore. Part of the issue proceeds will also go into repaying short-term loans of Rs 195 crore.
For the fiscal year ended March 31, 2007, Wockhardt Hospitals Ltd's total income was Rs 236.7 crore; EBITDA Rs 39.43 crore and net profit Rs 15.54 crore. Net worth was Rs 77.52 crore as on June 30, 2007 and Rs 71.37 crore as on March 31, 2007.
The current shareholders in Wockhardt Hospitals Ltd are DHPL (Dartmour Holdings P Ltd) with 81.79 per cent equity; Carol Info Services Ltd with 9.09 per cent stake; Wockhardt Ltd Chairman, Mr Habil F. Khorakiwala, also with 9.09 per cent stake; Mr Asgar Y.Khorakiwala with 0.01 per cent share and WHL's Vice-President - Operations, Mr Vishal Bali, with 5,000 shares.