Narayana Hrudayalaya shares made a strong debut on bourses on Wednesday and got listed at Rs 291 with a premium of over 16 per cent over its issue price of Rs 250.
The scrip closed at Rs 336.70, up by 34.68 per cent from its its issue price and has touched a high and low of Rs 344.20 and Rs 291.00, respectively.
Narayana Hrudayalaya had raised Rs 613 crore through its IPO last month. The offer, which opened for subscription from December 17-21 was subscribed 8.67 times at a price band of Rs 245-250 a share.
The institutional investors category was subscribed 17.22 times. In contrast, the portion set aside for retail investors witnessed 65 per cent subscription, while non-institutional investors category was subscribed 45 per cent.
Devi Shetty had set up Narayana Hrudayalaya in 2000 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.