Madhavbaug’ owner Vaidya Sane Ayurved Laboratories to launch Rs 20.22 crore IPO
Ahmedabad, Feb 2:Vaidya Sane Ayurved Laboratories Limited, which specialises in treating chronic ailments like cardiac disease, diabetes, hypertension and obesity through innovative ayurvedic therapies, will launch its initial public offer (IPO) on February 10, 2022. The company is planning to raise Rs 20.22 crore through the public issue. The offer will close on Feb 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 % of the fully diluted post issue paid up capital of the company. The promoter holding post IPO will come down to 66.29%.
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 strong infrastructure in place, the company plans to utilise Rs 16 crore from the fresh issue proceeds for branding and marketing and rest for general corporate purpose.
“The awareness, trust and confidence of the people in Ayurveda have only increased over the last few years. Around 60-70 per cent of Indians are already exposed to some form of Ayurveda treatments. 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 Dr Rohit Madhav Sane, MD & CEO, Vaidya Sane Ayurved Laboratories Ltd (Madhavbaug).
About Vaidya Sane Ayurved Laboratories Ltd (Madhavbaug)
With more than a decade experience in in preventive cardiology, Madhavbaug has a strong track record of patients who have obtained relief from life threatening diseases with Madhavbaug’s treatments. Founded in 2006 with a vision to reduce the mortality and morbidity due to heart disease and lifestyle disorders, Madhavbaug has established a strong foothold in non-invasive cardiac care with 274 clinics and 2 hospitals.
W expertise in preventive cardiology