The initial public offer of Shalby Hospitals Ltd. got fully subscribed on the final day of bidding on Thursday.
The IPO, which aims to raise Rs 504 crore, received bids for over nearly 1.54 crore shares versus the total issue size of 1.43 crore, making the issue oversubscribed by 1.08 times, according to data provided by issue manager Axis Capital as of 11 am.
The portion reserved for qualified institutional buyers was subscribed by 1.97 times the number of shares on offer, while the retail investor portion was subscribed 1.04 times. The non-institutional bidders segment saw muted demand and the shares set aside for employees received bids for 0.02 times the number of shares allotted.
Ahead of the public issue, the super-specialty hospital chain raised over Rs 150 crore from anchor investors.
The IPO of the Ahmedabad-based company comprises a fresh issue of shares aggregating up to Rs 480 crore and an offer for sale of up to 10 lakh equities. The price band has been fixed at Rs 245-248. At the upper end, the public issue would fetch Rs 504 crore.
Proceeds of the IPO will be utilised towards repayment of borrowings by the company, besides purchase of medical equipment for the existing, recently set-up as well as upcoming hospitals.
In recent months, healthcare services firms Alkem Laboratories, Dr Lal Pathlabs, Narayana Hrudayalaya, Thyrocare and Eris Lifesciences have tapped the primary market through the IPO route.
With inputs from PTI