Healthcare Global IPO Details

Issue Open Mar 16, 2016
Issue Close Mar 18, 2016
IPO Price ₹218
Face Value ₹10
IPO Size ₹649.64 Cr
Listing At BSE, NSE
IPO Lot Size 65

HEALTHCARE GLOBAL ENTERPRISES LIMITED

Our Company was originally incorporated as Curie Centre of Oncology Private Limited on March 12, 1998 at Bengaluru, Karnataka, India as a private limited company under the Companies Act, 1956. The name of our Company was subsequently changed to Healthcare Global Enterprises Private Limited and a fresh certificate of incorporation consequent upon change of name was issued by the RoC on November 14, 2005. Our Company was converted into a public limited company pursuant to a special resolution passed by our Shareholders at the extraordinary general meeting held on May 20, 2006 and the name of our Company was changed to Healthcare Global Enterprises Limited. Afresh certificate of incorporation consequent upon conversion to a public limited company was issued by the RoC on July 5, 2006. For details of change in the name and registered office of our Company, see "History and Certain Corporate Matters" on page 189 of the Prospectus.

Registered Office: HCG Tower, No. 8, P Kalinga Rao Road, Sampangi Rama Nagar, Bengaluru 560 027, Karnataka, India. Contact Person: Sunu Manuel, Company Secretary and Compliance Officer; Tel: +91 80 4660 7700; Fax: +91 80 4660 7749; E-mail: investors@hcgoncology.com;
Website: www.hcgel.com; Corporate Identity Number: U15200KA1998PLC023489
Corporate Office: Tower Block, Unity Building Complex, No. 3, Mission Road, Bengaluru 560 027, Karnataka, India.

OUR PROMOTERS: DR. BS AJAI KUMAR, DR. GANESH NAYAK, DR. BS RAMESH, DR. KS GOPINATH AND DR. M GOPICHAND

BASIS OF ALLOTMENT

The Equity Shares of the Company are proposed to be listed on the BSE Limited ("BSE") and the National Stock Exchange of India Limited ("NSE"). The Company has received listing and trading approval from BSE and NSE and trading in Equity Shares will commence on March 30, 2016.

PUBLIC OFFER OF 29,800,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH ("EQUITYSHARES") OF HEALTHCARE GLOBAL ENTERPRISES LIMITED ("COMPANY" OR "ISSUER") FOR CASH AT A PRICE OF RS. 218 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS. 208 PER EQUITY SHARE) AGGREGATING UP TO RS. 6,496.40 MILLION ("OFFER") COMPRISING A FRESH ISSUE OF UP TO 11,600,000 EQUITY SHARES AGGREGATING UP TO RS.  2,528.80 MILLION ("FRESH ISSUE") AND AN OFFER FOR SALE OF UP TO 18,200,000 EQUITY SHARES BY THE SELLING SHAREHOLDERS (AS DEFINED HEREUNDER), INCLUDING ONE OF OUR PROMOTERS, DR. BS AJAI KUMAR, AGGREGATING UP TO RS. 3,967.60 MILLION ("OFFER FOR SALE"). THE OFFER CONSTITUTES 35.03% OF OUR POST-OFFER PAID-UP EQUITYSHARE CAPITAL.

The Offer Price : Rs. 218 per Equity Share of Face Value of Rs. 10 each

The Offer Price is 21.8 times of the Face Value

Anchor Investor Offer Price: Rs 218 per Equity Share

Risks to Investors:

i. The 6 Book Running Lead Managers associated with this Offer have handled 23 public issues in the past three years, of which 8 issues closed below the issue price on listing date.

ii. The Price/Earnings ratio based on diluted EPS on restated consolidated basis for FY 2015 at the upper end of the Price Band is as high as 3,114 as compared to the average industry peer group Price/Earnings ratio of 60.08 for FY 2015.

iii. Weighted Average Return on Net Worth for FY 2015, FY 2014 and FY 2013 on restated consolidated basis is negative i.e. (5.01)%.

iv. The weighted average cost of acquisition per Equity Share (only accounting for allotments) for our Promoters is Rs. 21.97 and for our Selling Shareholders is Rs. 52.83.

BID/OFFER OPENED ON MARCH 16, 2016

BID/OFFER CLOSED ON MARCH 18, 2016

ANCHOR INVESTOR BIDDING DATE: MARCH 15, 2016

In terms of Rule 19(2)(b)(ii) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR"), and in accordance with Regulation 26(2) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the "SEBIICDR Regulations"), the Offer is made for at least such percentage of Equity Shares equivalent to the value of Rs. 4,000 million and the post-Offer capital of our Company at the Offer Price is more than Rs.16,000 million but less than or equal to Rs. 40,000 million. The Offer is made through the Book Building Process wherein at least 75% of the Offer shall be Allotted on a proportionate basis to Qualified Institutional Buyers ("QIBs"), provided that our Company in consultation with the Investor Selling Shareholders may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis, out of which one-third was reserved for domestic Mutual Funds only, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Offer Price, in accordance with the SEBI ICDR Regulations. 5% of the QIB Portion (excluding the Anchor Investor Portion) was available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion was available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, not more than 15% of the Offer was available for allocation on a proportionate basis to Non-Institutional Bidders and not more than 10% of the Offer was available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All potential investors, other than Anchor Investors, are required to mandatorily utilise the Application Supported by Blocked Amount ("ASBA") process providing details of their respective bank account which will be blocked by the Self Certified Syndicate Banks ("SCSBs") to participate in this Offer. For details, see "Offer Procedure" on page 457 of the Prospectus.

The Offer received 19,363 Applications for 39,189,540 Equity Shares(indudingAnchorApplications) (before technical rejections) resulting in 1.32 times subscription. As per the bid book, the details of the Applications received in the Offer from various categories are as under: (Before technical rejections)

SI No Category No. of
Applications
No. of
Equity Shares
No. of
times Subscribed
Amount Equity
Shares Offered
A Retail Individual Bidders 19,261 2,342,925 0.79 510,711,249.00 2,980,000
B Non Institutional Bidders 54 1,864,590 0.42 406,330,925.00 4,470,000
C Qualifies Institutional Bidders
(Excluding Anchors)
35 21,115,900 2.36 4,603,266,200.00 8,940,000
D Anchor Investors 13 13,866,125 1.03 3,022,815,250.00 13,410,000
Total 19,363 39,189,540 1.32 8,543,123,624.00 29,800,000

Final Demand

A summary of final demand as per BSE & NSE after the Bid/Offer Period at different prices is as under-

SLNO BID PRICE BIDS QUANTITY (%) TO TOTAL Cumulative Total Cumulative Total%
1 205 54,925 0.21 54,925 0.21
2 206 4,225 0.02 59,150 0.23
3 207 3,380 0.01 62,530 0.24
4 208 4,550 0.02 67,080 0.26
5 209 1,430 0.01 68,510 0.27
6 210 26,520 0.10 95,030 0.37
7 211 1,300 0.01 96,330 0.38
8 212 5,395 0.02 101,725 0.40
9 213 585 0.00* 102,310 0.40
10 214 1,235 0.00* 103,545 0.40
11 215 7,735 0.03 111,280 0.43
12 216 1,755 0.01 113,035 0.44
13 217 1,950 0.01 114,985 0.45
14 218 23,370,750 91.33 23,485,735 91.78
15 CUTOFF 2,103,595 8.22 25,589,330 100.00
TOTAL 25,589,330 100.00

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being NSE on March 23,2016. 'Negligible and less than 0.01 %

A. Allotment to Retail Individual Investors (After Technical Rejections)

The Basis of Allotment to the Retail Individual Investors, who have Bid at Cut-off Price or at the Offer Price of Rs. 218 per Equity Share was finalized in consultation with NSE. The category has been subscribed to the extent of 0.76 times. The total number of Equity Shares Allotted in this category is 2,274,675 Equity Shares to 18,654 successful applicants. The category-wise details of the Basis of Allotment are as under:

Category No. of
Applications
Received
% of Total Total No. of
Equity Shares
pplied
% to Total No. of Equity
Shares Allotted
per Applicant
Ratio Total No. of
Equity Shares
Allotted
65 14,512 77.80 943,280 41.47 65 1:1 943,280
130 1,723 9.24 223,990 9.85 130 1:1 223,990
195 646 3.46 125,970 5.54 195 1:1 125,970
260 407 2.18 105,820 4.65 260 1:1 105,820
325 183 0.98 59,475 2.61 325 1:1 59,475
390 129 0.69 50,310 2.21 390 1:1 50,310
455 251 1.35 114,205 5.02 455 1:1 114,205
520 83 0.44 43,160 1.90 520 1:1 43,160
585 30 0.16 17,550 0.77 585 1:1 17,550
650 114 0.61 74,100 3.26 650 1:1 74,100
715 18 0.10 12,870 0.57 715 1:1 12,870
780 19 0.10 14,820 0.65 780 1:1 14,820
845 21 0.11 17,745 0.78 845 1:1 17,745
910 518 2.78 471,380 20.72 910 1:1 471,380
TOTAL 18,654 100.00 2,274,675 100.00 2,274,675

B. Allotment to Non Institutional Investors (After Technical Rejections)

The Basis ofAllotmenttothe Non-Institutional Investors, who have Bid at the Offer Price of Rs. 218per Equity Share, was finalized in consultation with the NSE. This category has been subscribed to the extent of 0.40 times. The total number of Equity Shares Allotted in this category is 1,787,760 Equity Shares to 47 successful applicants. The category-wise details of the Basis of Allotment are asunder:

Category No. of
Applications
Received
% of Total Total No. of
Equity Shares
applied
% to Total No. of Equity
Shares Allotted
per Applicant
Ratio Total No. of
Equity Shares
Allotted
975 6 12.77 5,850 0.33 975 1:1 5,850
1,040 2 4.26 2,080 0.12 1,040 1:1 2,080
1,300 1 2.13 1,300 0.07 1,300 1:1 1,300
1,365 1 2.13 1,365 0.08 1,365 1:1 1,365
1,560 1 2.13 1,560 0.09 1,560 1:1 1,560
1,625 1 2.13 1,625 0.09 1,625 1:1 1,625
2,015 2 4.26 4,030 0.23 2,015 1:1 4,030
2,275 3 6.38 6,825 0.38 2,275 1:1 6,825
2,340 1 2.13 2,340 0.13 2,340 1:1 2,340
3,185 1 2.13 3,185 0.18 3,185 1:1 3,185
3,250 2 4.26 6,500 0.36 3,250 1:1 6,500
3,640 2 4.26 7,280 0.41 3,640 1:1 7,280
3,900 1 2.13 3,900 0.22 3,900 1:1 3,900
4,550 1 2.13 4,550 0.25 4,550 1:1 4,550
6,500 1 2.13 6,500 0.36 6,500 1:1 6,500
6,890 2 4.26 13,780 0.77 6,890 1:1 13,780
7,280 1 2.13 7,280 0.41 7,280 1:1 7,280
8,970 1 2.13 8,970 0.50 8,970 1:1 8,970
10,595 1 2.13 10,595 0.59 10,595 1:1 10,595
11,050 1 2.13 11,050 0.62 11,050 1:1 11,050
13,000 1 2.13 13,000 0.73 13,000 1:1 13,000
16,250 2 4.26 32,500 1.82 16,250 1:1 32,500
18,330 1 2.13 18,330 1.03 18,330 1:1 18,330
21,905 3 6.38 65,715 3.68 21,905 1:1 65,715
29,835 1 2.13 29,835 1.67 29,835 1:1 29,835
45,825 2 4.26 91,650 5.13 45,825 1:1 91,650
45,890 2 4.26 91,780 5.13 45,890 1:1 91,780
50,050 1 2.13 50,050 2.80 50,050 1:1 50,050
137,605 1 2.13 137,605 7.70 137,605 1:1 137,605
1,146,730 1 2.13 1,146,730 64.14 1,146,730 1:1 1,146,730
TOTAL 47 100.00 1,787,760 100.00 1,787,760

C. Allotment to QIBs excluding Anchor Investors

The Basis of Allotment to QIBs who have Bid at the Offer Price of Rs. 218 per Equity Share has been done on a proportionate basis in consultation with the NSE. This category has been subscribed to the extent of 2.36 times. As per the SEBI Regulations, Mutual Funds were Allocated 5% of the Equity Shares of Net QIB Portion available i.e. 616,378 Equity Shares (including under subscribed portion of 169,378 Equity Shares spilled over from Non Institutional and Retail Category) and other QIBs, including Mutual Funds, were Allocated the remaining available 11,711,187 (including under subscribed portion of 3,218,187 Equity Shares spilled over from Non Institutional and Retail Category) on proportionate basis. The total number of Equity Shares allotted in the QIB category is 12,327,565 Equity Shares, which were allotted to 35 successful Applicants. The category-wise details of the Basis of Allotment are as under:

Category Fls/Banks MFs ICs Others AIF Fll Total
QIB 0 2,504,276 1,829,884 1,336,449 0 6,656,956 12,327,565

D. Allotment to Anchor Investors

The Company and Selling Shareholders in consultation with the BRLMs have Allocated 13,410,000 Equity Shares to 13 Anchor Investors at the Anchor Investor Offer Price of Rs. 218 per Equity Share.

In accordance with the SEBI Regulations, this represents 60 % of the QIB Category.

Category Fls/Banks MFs ICs VCs AIF/FPI Fll Total
Anchor - 1,837,485 1,837,485 1,467,895 7,576,400 690,735 13,410,000

The Board of Directors of the Company at their meeting held on March 28,2016, has taken on record, the Basis of Allotment approved by the Designated Stock Exchange, being NSE and Allotted the Equity Shares to various successful Applicants.

The instructions to the Self Certified Syndicate Banks have been issued on March 24,2016 for unblocking of funds. The Equity Shares Allotted to the successful Applicants have been credited on March 28,2016 to their beneficiary accounts subject to validation of the account details with the depositories concerned. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below.

OurCompany filed the listing application with NSE and BSE on March 28,2016.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated March 22,2016 filed with the Registrar of Companies, Bangalore ("Prospectus")

INVESTORS PLEASE NOTE

These details of the Allotment made shall be hosted on the website of Registrar to the Offer, Karvy Computershare Private Limited at www.karisma.karvy.com

All future correspondence in this regard may kindly be addressed to the Registrar to the Offer quoting full name of the First/ Sole applicant, Serial number of the Bid-Cum-Application form, number of Equity Shares bid for, name of the Designated Intermediary, place where the bid was submitted and payment details at the address given below:

Karvy Computershare Private Limited

Karvy Selenium Tower B, Plot 31-32, Gacchibowli Financial District, Nanakramguda, Hyderabad 500 032.
Tel: +91 40 6716 2222; Fax: +91 40 23431551; E-mail: einward.ris@karvy.com I
nvestor grievance email: hcglobal.ipo@karvy.com; Website: www.karisma.karvy.com
Contact Person: Rakesh Santhalia; SEBI Registration No.: INR000000221

 

Place: Bengaluru

Date: March 29, 2016

For HEALTHCARE GLOBAL ENTERPRISES LIMITED
On behalf of the Board of Directors
Sd/-
Company Secretary & Compliance Officer

Healthcare Global IPO Basis of Allotment FAQs

  1. 1. How shares are allotted in Healthcare Global IPO?

    Check the basis of allotment document above to know about how the shares are allocated in Healthcare Global IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).
  2. 2. What is Healthcare Global IPO basis of allotment status?

    The Healthcare Global IPO basis of allotment (published above) tells you how shares are allocated to you in Healthcare Global IPO and category wise demand of IPO share.

    Visit the Healthcare Global IPO allotment status page to check the number of shares allocated to your application.

  3. 3. What is Healthcare Global IPO allotment process?

    Check the basis of allotment document above to know about how the shares are allocated in Healthcare Global IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).

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