Birla Pacific Medspa IPO : BWR gives 2 out of 5 Grade

by khalid on 07/06/2011 · 0 comments

Birla Pacific Medspa Limited (Initial Public Offering) IPO has got 2 out of 5 by BWR (Brickworks Ratings India Pvt Limited, rating agency) and this rating/grading is Below Average fundamentals for a healthcare provider company IPO. The grade 2 indicates that the fundamentals of the IPO are Below Average compared to the other listed securities in India. The company is entering into primary market with an Initial Public Offering (IPO) of —– Equity Shares of Rs 10 each. The premium of the issue will be decided through a 100% Book Building Process. The company is likely to raise around Rs 65.18 Crore through the issue at the upper level of price band. Birla Pacific Medspa Limited is a joint venture company of Yash Birla group and East Asia’s leading healthcare provider Pacific Healthcare which have presence in Singapore, Hong Kong, and China. Birla Pacific Medspa operates in healthcare centers under the brand name “EVOLVE” provides beauty related medical procedures in India.

The proceeds of the Initial Public Offering (IPO) are proposed to be utilized for capital expenditure towards establishing 55 outlets of Evolve Medspa across various cities and places, brand promotion and working capital for running the above centers.

The Sole Book running lead manager (BRLM) to the issue is Arihant Capital Markets Limited.

Registrar of the Issue : Adroit Corporate Services Pvt Limited

Stay tuned to BelltheBull Blog for more on Birla Pacific Medspa IPO !

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