1. Narayana Hrudayalaya IPO oversubscribed 8.67 times on last day

Narayana Hrudayalaya IPO oversubscribed 8.67 times on last day

The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 24 times, while high net worth individual (HNI) category was subscribed 3.6 times.

By: | Mumbai | Published: December 22, 2015 10:37 AM
Narayana Hrudayalaya IPO

Narayana Hrudayalaya has raised Rs 184 crore from 15 anchor investors, including the Singapore government, at the upper side of price band of Rs 245-250 apiece.

The initial public offer (IPO) of healthcare services firm Narayana Hrudayalaya was oversubscribed 8.67 times on the last day of bidding today.

The Rs 613-crore IPO received bids for 14,88,85,080 shares against the total issue size of 1,71,66,309 shares, data available with the NSE till 1900 hrs showed.

The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 24 times, while high net worth individual (HNI) category was subscribed 3.6 times.

Retail investors pie, however, received just 1.7 times subscription.

The issue that got off to a slow start managed to get over subscription on the final day.

The offer was subscribed 7 per cent on the first day of the issue and 30 per cent on the second day.

Narayana Hrudayalaya has raised Rs 184 crore from 15 anchor investors, including the Singapore government, at the upper side of price band of Rs 245-250 apiece.

Post-IPO, promoters will have 65 per cent stake in the company.

The IPO had an offer of sale of up to 2.45 crore equity shares from promoters and other existing shareholders, representing 14.04 per cent stake in the company.

The book running lead managers to the offer are Axis Capital, IDFC Securities and Jefferies India.

Narayana Hrudayalaya is the third company from the healthcare sector to launch an IPO this month after diagnostic chain Dr Lal PathLabs and pharmaceutical firm Alkem Laboratories.

The initial public offerings of Alkem Laboratories and Dr Lal PathLabs elicited robust investor response, with 44.29 times and 33.41 times over subscription, respectively.

Devi Shetty had set up the hospital in 2,000 and operates a chain of 23 multi-specialty, primary and tertiary healthcare facilities and eight heart centres, and 24 primary care facilities across 31 cities, with 5,442 operational beds and a potential to reach a capacity of up to 6,602 beds.

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