Wockhardt Hospitals Limited has filed its RHP with the ROC

Wockhardt Hospitals Limited IPO: Price Band fixed between Rs 280 and Rs 310 per equity share

Wockhardt Hospitals Limited has filed its RHP with the ROC

Mumbai, Maharashtra, January 17, : Wockhardt Hospitals Limited, one of the largest private

healthcare services companies in India based on the number of hospital beds (Source: CRIS-INFAQ’s report published in 2007), fixed the Price Band between Rs 280 and Rs 310 per equity share for its initial public offering (“IPO”) of 25,087,097 equity shares of Rs 10 each for cash at a price determined through a 100% book building process. The Company filed a Red Herring Prospectus (“RHP”) with the Registrar of Companies, (“ROC”), Maharashtra, at Mumbai, on January 17, 2008.

The Issue comprises a net issue to the public of 24,587,097 equity shares of Rs 10 each (the net issue) and a

reservation of upto 500,000 equity shares for subscription by eligible employees. The Issue will constitute 24.06% of the post-issue paid up equity share capital of the Company. 

The Company intends to utilise the proceeds from the issue to meet the cost of development and construction of  greenfield and brownfield hospitals of the company, prepay some of the short term loans and to meet general corporate expenses.

The equity shares are proposed to be listed on Bombay Stock Exchange Ltd. and The National Stock Exchange of India Ltd.

The Joint Global Co-ordinators and Book Running Lead Managers (“GCBRLMs”) to the Issue are Citigroup Global Markets India Private Limited and Kotak Mahindra Capital Company Limited. The Book Running Lead Managers (“BRLMs”) to the Issue are SBI Capital Markets Limited and ICICI Securities Limited.

Wockhardt Hospitals Limited is proposing, subject to market conditions and other considerations, a public issue of its equity shares and has filed its Red Herring Prospectus (“RHP”) with the Registrar of Companies (“ROC”), Maharashtra, at Mumbai. The RHP is available on the website of SEBI at www.sebi.gov.in and on the websites of the GCBRLMs at www.citibank.co.in and www.kotak.com; and on the websites of the BRLMs at  www.sbicaps.com and www.icicisecurities.com. This press release does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any equity shares, nor shall it or any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision. Any potential investor should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the RHP filed with the SEBI including the section titled “ Risk Factors”. The Equity Shares of the Company have not been and will not be registered under the U.S. Securities Act 1933, as amended or any state securities laws in the United States. This announcement has been prepared for publication in India and may not be released in the United States. This announcement does not constitute an offer of securities for sale in any jurisdiction, including the United States, and any securities described in this announcement may not be offered or sold in the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act.