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Should you subscribe to Shalby IPO? - IndiaNotes.com
Should you subscribe to Shalby IPO?
Hem Securities | Published: 06 Dec, 2017  | Source : IndiaNotes.com

Co  is  one  of  the  leading  multi-specialty  chain  of  hospitals  in  India  (Source:  F&S  Report).  Co’s  hospitals  are  tertiary  care hospitals,  few  of  which  also  offer  quaternary  healthcare  services  to  patients  in  various  areas  of  specialisation  such  as  orthopaedics, complex joint replacements, cardiology, neurology,  oncology, and renal transplantations. As on the date, co provide inpatient and outpatient healthcare services through 11 operational hospitals with an aggregate  bed capacity  of 2,012 beds.


Co also provide outpatient services through 47 Outpatient Clinics and have ten shared surgery centres within third party hospitals, which  it  call “Shalby Arthroplasty Centre of Excellence” (“SACE”),  where  co  offer  orthopaedic  healthcare  services  including surgeries. Since March 2007,  co  have conducted an aggregate  of  92,100  surgeries,  and  provided  healthcare  services to an aggregate of 1,025,533 patients, consisting 133,652 inpatients and 891,881 outpatients.  The Co intends to use the proceeds for repayment or prepayment in full or in part  of certain loan availed by company worth of Rs 300 Cr, purchase of medical equipment for existing recently set up & upcoming hospitals worth  of  Rs  63.58  Cr,  purchase  of  interiors,  furniture  &  allied infrastructure for upcoming hospitals worth of Rs 11.18 Cr.

Valuation

Company  is  bringing  the  issue  at  price  band  of  Rs  245-248 /share  at p/e multiple of 46-47.  Co has leadership in orthopaedics  with  integrated  and  scalable  business  model  enhancing  patient  reach  and  is  experienced  player  with  longstanding  presence. Hence,  we recommend "Subscribe”  on  issue  for long  term.

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About Hem Securities
The Hem Securities is one of the leading broking Network in India. It provides trading platform in all the leading exchanges namely - BSE, NSE, MCX , NCDEX & MCX-SX. Their mission is to build wealth for their investors by offering them best financial services through trading & investment strategies and honoring commitment with ethical & transparent business practices.

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