Center for Sight to set up 7 new eye centres

New Delhi, Feb 6 (IANS) Eye hospital chain Center for Sight on Saturday said it will set up seven new facilities, including a super specialty hospital here.

The Delhi-headquartered company would invest Rs.16.55 crore in setting up an eye hospital here and Rs 26 crore in establishing the other six eye care centers across the country, said chairman and managing director Mahipal Singh Sachdev.

Centre for Sight, which currently has eye hospitals in eight states, is in the process of making its initial public offering (IPO) by which it aims to raise Rs 115 crore.

On Saturday, it filed its draft red herring prospectus with the Securities and Exchange Board of India (SEBI).

“The proposed public issue will comprise a fresh issue of shares to raise about Rs 115 crore and an offer for sale of up to 2.54 million shares by the existing shareholders,” said Sachdev.

The company plans to use Rs.28.6 crore of the funds it expects to raise through the IPO to buy shares of CFS Netralaya, another eye care provider.

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