Ranbaxy promoter group company Fortis Healthcare today got listed at Rs 105, nearly 3% below its issue price of Rs 108, on the Bombay Stock Exchange.Within minutes of listing, the shares of the company touched a high of Rs 109.10 and over 43.56 lakh shares exchanged hands. The scrip later pared some gains and was trading at Rs 102.65 at 10.13 AM on the BSE.The healthcare firm entered the bourses with 22.66 crore equity shares of Rs 10 each at an issue price of Rs 108 per share.The IPO of Fortis Healthcare was subscribed 2.78 times with bids for over 12.74 crore shares against about 4.57 crore shares offered in the public issue.The qualified institutional buyers (QIB) portion of the IPO, reserved for FIIs, mutual funds and domestic financial institutions, got subscribed 2.72 times, while the retail portion received bids of over 3.26 times.Fortis Healthcare, which runs 11 hospitals in northern India, has received around Rs 153.69 crore through a couple of pre-IPO placements.The offer proceeds would be deployed mainly in the construction of new hospital facilities and for other business purposes.The book running lead managers to the issue were J M Morgan Stanley Private, Citigroup Global Markets India and Kotak Mahindra Capital.
