INDIA BUSINESS WORLD - JUNE 1st - JUNE 30th - 2008
BCCL PICKS UP STAKE IN LOTUS EYE CARE HOSPITAL
In a pre-IPO placement, Lotus Eye Care Hospital has sold 2.55 lakh shares of Rs 10 each at a price of Rs 50 each to Bennett, Coleman & Company (BCCL), publishers of The Times of India and The Economic Times. The company proposes to enter the capital market with a public issue of Rs 42 crore to part-finance its Rs 55-crore expansion plan. Keynote corporate services is the BRLM for the issue. Rating agency Care has assigned Grade 3 for the public issue. Lotus said in a release it has a network of four eye care hospitals at Coimbatore, Salem and Tirupur. Over the last 15 years, Lotus has become a trusted name in eye care and thousands of patients have benefited from it. The hospitals are equipped with hi-tech equipment, ophthalmic experts and well trained paramedical and administrative team. They have become one of the leading eye care hospitals in the south offering comprehensive tertiary eye care for various diseases and comprehensive preventive measures and educational programmes.
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