Dream debut for Narayana Hrudayalaya, stock jumps over 34 pc

Narayana Hrudayalaya shares today made a stellar debut on stock exchanges and settled at Rs 336.70 on BSE, with a premium of over 34 per cent over the issue price of Rs 250.
On BSE, the stock listed at Rs 291, a gain of over 16 per cent over its issue price.
During the day, the stock touched a high of Rs 344.20 and a low of Rs 291.
On NSE, the stock debuted at Rs 291 and surged 16 per cent before finally settling at Rs 336.95, up 34.78 per cent.
During the day, it surged to a high of Rs 345.65 and low of Rs 291.

At the end of today's trading session, the company commanded a market capitalisation of Rs 6,880.83 crore.

The uptrend at the counter assumes significance as the broader market settled in the negative zone at 25,406.33, down 174.01 points.
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 saw 65 per cent subscription while non-institutional investor category was subscribed 45 per cent.

In 2000, Devi Shetty had set up Narayana Hrudayalaya, which operates a chain of 23 multi-specialty, primary and tertiary healthcare facilities, along with 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.