Vaidya Sane Ayurved Laboratories Limited (Madhavbaug) gets NSE approval for SME IPO
MUMBAI, India, Jan. 5, 2022 /PRNewswire/ — Speciality chain Of Cardiac Clinics, Vaidya Sane Ayurved Laboratories Limited, a unique medical service institution popularly known as ‘Madhavbaug’ that treats chronic ailments like cardiac disease, diabetes, hypertension and obesity with the distinctive outlook of amalgamating technology with traditional healing of Ayurveda has filed its draft red herring prospectus (DRHP) and has received in principle, approval from NSE. Madhavbaug’s approach to treatment is non-invasive, multidisciplinary and includes innovative therapies.
According to the Draft Prospectus, the public issue comprises a fresh issue of 27,71,200 equity shares at a price of INR 73.00 per share aggregating upto INR ~20.23 crore.
Dr. Rohit Madhav Sane, Managing Director & CEO is the Promoter of the Company.
Net proceeds are proposed to be utilised towards funding, branding and advertising expenses and towards general corporate expenses which include funding growth opportunities, strategic initiatives, joint-ventures, partnerships, marketing and business development expenses, expansion of facilities and meeting exigencies and expenses incurred by our Company in the ordinary course of business.
As on November 30, 2021, the company operates 274 clinics with a brand name of ‘Madhavbaug Cardiac Clinics and Hospitals’ across Maharashtra, Madhya Pradesh, Gujarat, Uttar Pradesh, Goa and Karnataka. Out of these 52 are company owned and 222 are franchise clinics. The company also operates two fully equipped cardiac prevention and rehabilitation hospitals in Khopoli and Nagpur respectively.
Vaidya Sane, part of a booming Indian wellness industry—estimated at Rs. 49,000 crore (US$ 6.70 billion)—is gaining momentum on the back of government focus of building a healthy and fit India. Ayurveda is an alternative medicine system with historical roots in India. The Indian wellness and ayurveda industries go hand in hand. Ayurveda is globally acclaimed for its preventive healthcare properties and treatment of many chronic lifestyle disorders. The Indian ayurveda industry has several large players, with the micro, small and medium enterprises (MSMEs) capturing 80% market share. Ayurveda is witnessing a resurgence in India because people have accepted this as a way of life as opposed to the earlier notion of ayurveda as an alternative area of medicine.
The Draft prospectus is available on the website of NSE and Lead Manager, First Overseas Capital Limited.
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