Shalby makes sluggish debut; stock lists over 4% lower

Shares of multi-specialty hospital chain Shalby Ltd made a sluggish debut on bourses today, falling more than 4 per cent over the issue price of Rs 248.
The stock listed at Rs 237, down 4.43 per cent over the issue price on BSE. It later dipped 4.75 per cent to Rs 236.20.
On NSE, the stock debuted at Rs 239.70, falling 3.34 per cent as compared to the issue price.
In volume terms, 12.07 lakh shares of the company were traded on BSE and over 68 lakh shares changed hands on NSE during the morning trade.
The Rs 504 crore IPO opened for subscription from December 5-7, was subscribed 2.8 times at a price band of Rs 245-248 per share.

The IPO proceeds will be utilised for repayment of loans and purchase of medical equipment.