Global Health, which operates and manages hospitals under the Medanta brand, has filed the Draft Red Herring Prospectus (DRHP), with SEBI to raise funds through an Initial Public Offering (IPO).

The IPO consists of a fresh issue of equity shares aggregating to Rs 500 crore, and an offer for sale of up to 4.84 crore equity shares, according to the prospectus

As a part of the OFS, Anant Investments, an affiliate of private equity major Carlyle Group, will sell up to 4.33 crore equity shares and Global Health co-founder Sunil Sachdeva (jointly with Suman Sachdeva) will offload up to 51 lakh equity shares.

At present, Anant Investments holds a 25.67 per cent stake in Global Health and Sachdeva owns 13.43 percent stake in the company.

Proceeds from the fresh issue will be used to pay debt and general corporate purposes.

Kotak Mahindra Capital Company, Credit Suisse Securities (India), Jefferies India and JM Financial are the book running lead managers to the IPO.

Founded by Naresh Trehan, a cardiovascular and cardiothoracic surgeon, Global Health is a leading private multi-speciality tertiary care provider in the north and east regions of India.

Global Health, backed by private equity investors such as Carlyle Group and Temasek, operates a network of 4 hospitals under the Medanta brand in Gurugram, Indore, Ranchi and Lucknow. In addition, one hospital is under construction in Patna, and another is planned for development in Noida.

Proceeds from the fresh issue will be used to pay debt and general corporate purposes.

Kotak Mahindra Capital Company, Credit Suisse Securities (India), Jefferies India and JM Financial are the book running lead managers to the IPO.