UniHealth Boosts Expansion with Strategic Investment in Convertible Debentures

UniHealth Hospitals is set to issue 700,000 Zero Coupon Compulsorily Convertible Debentures to promoters, raising Rs 10.57 crore. This investment aims to bolster the company's growth in India and Africa, enhancing healthcare services and infrastructure. Promoters Dr. Akshay Parmar and Dr. Anurag Shah express confidence in UniHealth's continued expansion.

Mumbai, India – UniHealth Hospitals Limited has unveiled plans to issue 700,000 Zero Coupon Compulsorily Convertible Debentures (CCDs) valued at Rs 151 each, totaling Rs 10.57 crore. The debentures will be issued to promoters Dr. Akshay Parmar and Dr. Anurag Shah, contingent on shareholder approval.

Each CCD is slated for conversion into an equity share priced at Rs 10, with a premium of Rs 141, within 18 months of issuance. Promoters will equally subscribe to the CCDs, paying 25% upfront and the remainder upon conversion. This move will see Dr. Anurag Shah's stake rise to 33.23% and Dr. Akshay Parmar's to 28.14%, reflecting their strong faith in the company's growth trajectory in domestic and African markets.

Dr. Akshay Parmar emphasized this as a landmark step for UniHealth, aiming to upgrade medical infrastructure, enhance patient experience, and expand reach. Dr. Anurag Shah noted the focus on operational efficiency and innovation to redefine healthcare delivery, leveraging this investment for facility expansion and specialized service introduction.

(With inputs from agencies.)