Corporate Updates

Bennet, Coleman pick up 2.55 lac equity shares of Lotus Eye Care

In a pre-IPO placement, Lotus Eye Care Hospital has sold 2,55,000 equity shares of INR 10 each to the Bennet, Coleman & Company, publishers of Times of India and The Economic Times, at a price of INR 50 each. Lotus Eye Care Hospital is the state of art eye care hospital group successfully functioning in South India with specialization in super-specialty service related to eye care. It has a network of four eye care hospitals based at Coimbatore (2), Salem (1) and Tirupur (1). These hospitals have hitec eye care equipments and ophthalmic experts backed by well-trained paramedical and administrative team. All the centers have fully computerized modern setup manned by medical and administrative staff. In  1998 Lotus introduced Multi Scan Lasik and in 2002 Wave front based Esiris Custom Lasik for the first time in India. Lotus was the first Eye hospital in South East Asia to have Epilasik in July 2004. In  June 2005 Lotus introduced the most advanced technology of Zyoptix and combined two superior technologies Epilasik and Zyoptix known as Zyoptix Integrated Epilasik to achieve supervision. The Company proposes to enter the Capital markets with a public issue of  Rs 42 crores to part finance its Rs 55 crore plan for expansion of existing facilities and establishment of new centers with latest technologies. Keynote Corporate Services Ltd is the BRLM for the Issue. CARE has assigned CARE GRADE 3 for the Issue.

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