Shalby Ltd

Shalby Limited is an Ahmedabad-headquartered chain of multi-specialty hospitals and has a pan-India presence. It predominantly operates through 11 hospitals with an aggregate bed capacity of 2,012 beds. Out of these, 4 are located in Ahmedabad and 1 each at Vapi, Surat, Indore, Jabalpur, Mohali, Jaipur and Mumbai. Besides this, Shalby has 40 Outpatient Clinics spread across 35 cities of India and 7 Shalby Arthroplasty Centre of Excellence (SACE). It is expanding its footprint in western and central India. Shalby's international footprint is spread across Africa, UAE, Bangladesh and Cambodia consisting of 6 outpatient clinics and 1 SACE in Africa, 2 SACE in the UAE and 1 outpatient clinic each in Bangladesh and Cambodia. Shalby is one of the leading multi-specialty chain of hospitals in India. The Hospitals are tertiary care hospitals, few of which also offer quaternary healthcare services to patients in various areas of specialisation such as orthopaedics, complex joint replacements, cardiology, neurology, oncology, and renal transplantations. Led by Dr. Vikram Shah, an orthopaedic surgeon with more than 25 years of professional experience, The Hospital has grown from a single hospital to a chain of multi-specialty hospitals. Apart from a focus on orthopaedics, the hospitals provide advanced levels of care across various specialties such as neurology, cardiac care, critical care, oncology, and nephrology. The Hospitals, Krishna Shalby, SG Shalby, Shalby Indore and Shalby Jabalpur are accredited by the NABH. Further, Krishna Shalby and SG Shalby are also accredited by the NABL. Shalby Ltd was originally incorporated as a private limited company with the name 'Shalby Hospital Private Limited' on August 30, 2004. Subsequently, The Company was converted to a public limited company and the name of the company was changed to 'Shalby Hospital Public Limited' on May 15, 2006. The name of the Company was subsequently changed to Shalby Hospitals Limited on July 26, 2006. In 2007, the company established and commenced operations of its first multi-specialty hospital, SG Shalby, at Sarkhej Gandhinagar Highway in Ahmedabad. The name of the Company was changed to Shalby Limited on February 13, 2008. The company commenced a new hospital Shalby Vapi at Vapi in April 2012. The company commenced a new hospital Krishna Shalby in Ahmedabad in October 2012. The company commenced a new hospital Shalby Jabalpur at Jabalpur in Madhya Pradesh in March 2015. The company commenced a new hospital Shalby Indore at Indore in August 2015. In 2016, the company executed a memorandum of understanding with ZH Private Limited to manage and operate Zynova Shalby. During the year under review, the company executed an O&M agreement with Kamesh Hospital to commence operations of Shalby Mohali. In 2017, the company entered into an agreement with Bait Al Batterjee Medical Company LLC, Dubai, to provide outpatient orthopaedics and spine surgeries. On 22/05/2016 the company filed Draft Red Herring Prospectus and on 29/11/2017 filed Red Herring Prospectus with SEBI for raising Rs. 504.80 cr. The Issue dates were from 05/12/2017 to 07/12/2017 with Price Band of Rs. 245 to Rs. 248. The Issue got subscribed 2.27 times leading to its Issue Price being fixed at Rs. 248. The Shares got listed in BSE and NSE on 15/12/2017 at Rs. 237 which is 4.44% below Issue Price.On 27 March 2018, Shalby Limited announced that it has signed Memorandum of Understanding (MoU) to establish state- of- the art, Heart & Lung Transplant Centres, across all Shalby Units in India in association with Gleneagles Global Health City to provide comprehensive medical care facilities to patients across all Shalby units in India. This arrangement will facilitate patients and families residing in tier- II & tier-Ill cities and its catchment areas in a big way, by reducing their dependence on select metro cities for such life saving programs. This will enable Shalby and Gleneagles Global to expand their respective business verticals, adding more features, capabilities and boost patients footfalls. Shalby Limited (Shalby Multispecialty Hospitals), Ahmedabad signed a Memorandum of Understanding (MOU) with Sen Sok International University Hospital, Phnom Penh, Cambodia on April 12, 2018. Under the aegis of this MOU, to begin with, Shalby will be sending Specialists to Sen Sok Hospital for Orthopedic Specialty, which may be expanded to other specialties on mutual agreement, from time to time. Further, under the scope of the MOU, Shalby Academy, a unit of Shalby Limited, will allow nursing and Paramedic staff from Sen Sok International University Hospital to undergo various academic courses being run by Shalby Academy in India. Shalby Academy has been conducting various courses covering Paramedics, Hospital Management and specialized programs for doctors to excel in their careers. On 4 June 2018, Shalby Limited signed Memorandum of Understanding (MoU) with Berkeley Health Education P. Ltd, initiatives by promoter of Dabur Group, for conducting several programmes in Healthcare sector wherein Berkeley will organize the courses and Shalby will impart practical training at its various units across India. This Collaboration will benefit Nurses, Para Medical Staff and Doctors as several courses in different field of Healthcare will be conducted under this arrangement. On 1 September 2018, Shalby Limited informed the stock exchanges that Shalby Hospitals, Indore Unit has received the approval for Renal Transplant for a period of 5 years with effect from 6 July 2018 and Shalby Indore has successfully carried out one Renal Transplant, recently. This approval to our facility will facilitate patients from Madhya Pradesh and nearby states to reduce their dependence on select Metro cities for such life saving programs. On 20 September 2018, Shalby Hospitals, Jaipur performed a rare surgery on an 11 year old girl and removed an ovarian mass weighing 12.5 kg intact, to avoid spillage. On 24 September 2018, Shalby Limited informed the stock exchanges that credit rating agency ICRA Limited has upgraded the long-term ratings to [ICRA] A (pronounced as ICRA A) from [ICRA A-] (pronounced as ICRA A minus) on the term loans and fund based facilities aggregating to Rs 103.02 crore availed by the company. ICRA has also revised its outlook on the long-term rating to 'Positive' from 'Stable'. Read More