Saturday, May 12, 2012

Monarch Health Services IPO

Monarch Health Services, a skin care and cosmetic clinics chain operator, is coming out with a public issue of 30 lakh equity shares. Company has prototype clinics with a concept of one-stop-shop equipped and versed to cater both surgical and non surgical cosmetic and aesthetic treatments for head to toe transformations.

The IPO opens on 12 May, 2012 and closes on 16 May, 2012. The IPO is priced at a fixed price of Rs 40 per share.

Monarch Health intends to use proceeds of the issue (of Rs 12 crore) for augmenting capital base and increasing operational scale by opening up 23 new clinics, and for meeting the working capital requirements. The company proposes to come out with a chain of 100 skin care and cosmetic clinics across India in the next four years. It has already commenced operations in two clinics in Mumbai and proposes to commence operation in three more clinics - one each in Delhi in April 2012 and Goa in May, 2012 and also one more clinic in the year 2012-13 at Haridwar with the funds raised prior to the public issue.

Equity shares are proposed to be listed on BSE SME platform. Network Stock Broking Limited is the lead manager to the issue.

Recommendation:

We would not recommend investors to invest in this IPO.

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