Narayana Hrudayalaya IPO oversubscribed

Narayana Hrudayalaya IPO oversubscribed

Bengaluru-based Narayana Hrudayalaya has managed to get a good response to its initial public offering (IPO), which closed on Monday, December 21.

As per details available on the BSE website at 7 pm, the issue was subscribed over 3.3 times with bids being received for 5.72 crore shares, as against the offer size of 1.71 crore shares.

The qualified institutional buyers (QIBs) portion was subscribed over seven times, while the non-institutional investors and retail individual investors (RIIs) portion were subscribed 3.16 and 1.2 times, respectively.

As far as subscription details on NSE are concerned, as of 7 pm, the issue was subscribed 5.34 times, with bids being received for 9.16 crore shares, as against the offer size of 1.71 crore shares. The qualified institutional buyers (QIBs) portion was subscribed over 17 times.

However, the non-institutional investors and RIIs were not fully subscribed, with bids being received only for 45 per cent and 64 per cent, respectively, of the total size reserved for these categories.

Dr Devi Shetty-promoted Narayana Hrudayalaya plans to raise a maximum of Rs 613 crore through an IPO of 2.45 crore shares, at a price band of Rs 245-250 per share.

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

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