Shalby hospital fixes IPO price band at ~245-248

Ahmedabad-based multispecialty hospital chain Shalby on Tuesday fixed the price band of its ~504-crore initial public offering (IPO) at ~245-248. The issue opens on December 5 and closes on December 7. The offer comprises a fresh issue of equity shares aggregating up to ~480 crore and an offer for sale of up to 1,000,000 equity shares by the selling shareholder. Proceeds of the IPO will be utilised towards repayment of borrowings availed by the company besides purchasing medical equipment for existing, recently set-up as well as upcoming hospitals, the company said. PTI<