India Vaidya Sane Ayurved Laboratories Limited, which specializes in treating chronic ailments like cardiac disease, diabetes, hypertension, and obesity through innovative ayurvedic therapies, will launch its initial public offer (IPO) in February 10, 2022.
The company is planning to raise Rs 20.22 crore through the public issue. The offer will close on February 15, 2022, and the shares will get listed on NSE Emerge.
The company is issuing 27,71,200 shares at a fixed price of Rs 73 per equity share. The minimum lot size has been kept at 1600 equity shares. The public offer constitutes 26.36 per cent of the fully diluted post-issue paid-up capital of the company.
The promoter holding post-IPO will come down to 66.29 per cent.
The company, 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 9 states. It has a footfall of around 6 lakh patients per year.
With the strong infrastructure in place, the company plans to utilize Rs 16 crore from the fresh issue proceeds for branding and marketing and the rest for general corporate purposes.
"The awareness, trust, and confidence of the people in Ayurveda have only increased over the last few years. Around 60-70 percent of Indians are already exposed to some form of Ayurveda treatment. 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," said Rohit Madhav Sane, MD & CEO, Vaidya Sane Ayurved Laboratories Ltd (Madhavbaug).
(With inputs from PTI)
