HealthCare Global's Rs 650-cr IPO subscribed 54% on Day 2

The issue received bids for 88,13,610 shares against the total issue size of 1,63,90,000 shares

The initial public offering (IPO) of cancer-care network operator HealthCare Global Enterprises (HCG) was subscribed 54 per cent on the second day of the offer on Thursday.

The Rs 650-crore issue received bids for 88,13,610 shares against the total issue size of 1,63,90,000 shares, the National Stock Exchange's data showed.

The qualified institutional buyers' portion was subscribed 75 per cent, while retail investors segment saw 31 per cent subscription.

The non-institutional investors category was subscribed 27 per cent.

HCG is the fourth company after Precision Camshafts, TeamLease Services and Quick Heal Technologies to hit Dalal Street with an IPO in 2016. It has already raised Rs 292 crore through issue of shares to 11 anchor investors. The company has fixed the price band at Rs 205-218 for the IPO which would conclude tomorrow. At the upper end of the price-band, the issue will fetch about Rs 650 crore.
 
The shares are proposed to be listed on BSE and National Stock Exchange (NSE).

Kotak Mahindra Capital Company, Edelweiss Financial Services, Goldman Sachs (India) Securities, IDFC Securities, IIFL Holdings and Yes Bank are the book running lead managers to the issue.

The Bengaluru-based firm operates one of the largest cancer care networks in the country under the brand name HCG.

Currently, HCG has 14 comprehensive cancer centres.