Vaidya Sane Ayurved Laboratories, which specialises in treating chronic ailments like cardiac disease, diabetes, hypertension and obesity through ayurvedic therapies, will launch its initial public offer (IPO) on February 10.
The company is planning to raise Rs 20.22 crore through public issue and get listed on NSE Emerge, the National Stock Exchange platform dedicated for listing of small and medium enterprises (SMEs).
The company is issuing 27.71 lakh equity shares at a fixed price of Rs 73 per equity share. The public offer constitutes 26.36 per cent of the fully diluted post-issue paid up capital of the company. The promoter holding post the IPO will come down to 66.29%. The minimum lot size has been kept at 1,600 equity shares.
Founded in 2006, Vaidya Sane Ayurved Laboratories, which operates under the brand name ‘Madhavbaug’ has established a strong foothold in non-invasive cardiac care through 274 clinics spread across 25 cities and nine states.
Further, it has a footfall of around six lakh patients per year. The company plans to utilise Rs 16 crore from the fresh issue proceeds for branding and marketing and rest for general corporate purpose.
“The awareness, trust and confidence of the people in Ayurveda have only increased over the last few years,” said Dr Rohit Madhav Sane, MD & CEO, Vaidya Sane Ayurved Laboratories.
“Around 60-70 per cent of Indians are already exposed to some form of Ayurveda treatments. With strong government support and IRDA amendment allowing insurance coverage for Ayurveda treatments coming in, the entire industry is poised for a strong growth going forward,” he added. The offer will close for subscription on February 15.
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