Wockhardt Hospitals is in talks to sell 3 or 4 key hospitals, including its hospital in Mumbai and two hospitals in Bangalore, for around Rs 800 crore, two persons close to the development told ET. These three hospitals accounted for around 71% of total income in the fiscal ended March 2007, according to analyst reports which were based on the prospectus for an initial public offer the company had filed in 2008. These hospitals collectively comprised around 35% of the company=92s total bed capacity, according to these reports. The IPO was eventually aborted.
Earlier, the company was looking at selling a 40-45% stake for which it was offered around Rs 600 crore. The promoters, the Mumbai-based Khorakiwala family, currently own 93% in the company.
Wockhardt, the flagship company of the Khorakiwala Group, does not have any stake in Wockhardt Hospital. According to the draft prospectus which was filed, the promoters of Wockhardt Hospitals were DHPL (Dartmour Holdings) with 76.71% equity; Carol Info Services with 8.52% and Wockhardt=92s chairman Habil F Khorakiwala with 8.52%. DHPL is said to be a closely-held company owned by the Khorakiwala family