Wockhardt Hospitals' IPO on Jan 31

MUMBAI: Wockhardt Hospitals’ IPO will open on January 31, and close on February 5, the Indian company said on Tuesday. The company intends to utilise the proceeds from the issue to meet the cost of development and construction of greenfield and brownfield hospitals, prepay short-term loans and meet general corporate expenses.

The company has fixed the price band between Rs 280 and Rs 310 per share. It filed a red herring prospectus with the Registrar of Companies, in Mumbai, on January 17, 2008. The issue will constitute 24.06% of the post-issue paid up share capital. Publisher’s Disclosure — Bennett, Coleman & Co holds 1.55% of the post-public issue equity capital of Wockhardt Hospital.