HealthCare Global Enterprises (HCG) made a weak debut on bourses on Monday as shares the cancer-care network operator listed at Rs 209.80 on BSE against the issue price of Rs 218. On the National Stock Exchange (NSE), the scrip listed 3.5 per cent lower at Rs 210.20.
The share price of HealthCare Global slipped 21.58 per cent to Rs 170.95 on BSE. The scrip plunged 19.01 per cent to Rs 170.25 on NSE. The benchmark index BSE Sensex closed 1.76 per cent up at Rs 25,338.
HCG was the fourth company after Precision Camshafts, TeamLease Services and Quick Heal Technologies to come out with an IPO this year. The IPO of HealthCare Global which was open from March 16-18, was oversubscribed 1.56 times.
The company had fixed the price band at Rs 205-218 for the IPO. Kotak Mahindra Capital Company, Edelweiss Financial Services, Goldman Sachs (India) Securities, IDFC Securities, IIFL Holdings and Yes Bank were the book running lead managers to the issue.
For the financial year ended March 2015, the company posted a consolidated net profit of Rs 0.54 crore against net loss of Rs 35.55 crore a year ago. HCG registered net loss of Rs 10.51 crore and Rs 3.33 crore in FY13 and FY12, respectively. The company’s topline grew 15.13 per cent year-on-year to Rs 524.19 crore for the year financial year ended March 2015. It posted revenue of Rs 455.3 crore and 340.68 crore in FY14 and FY13, respectively.