 "(From left to right) Ashutosh Raghuvanshi, MD, Narayana Hrudayaya and Devi Shetty, Chairman, Narayana Hrudayaya at a press conference announcing the company's IPO plans in Mumbai (pic: Suryakant Niwate)")
Healthcare services firm Narayana Hrudayalaya's initial public offer (IPO) has been oversubscribed 8.41 times till late afternoon trade on the last day of bidding today.
The Rs 613-crore IPO received bids for 14,44,27,680 shares against the total issue size of 1,71,66,309 shares, data available with the NSE till 1600 hours showed.
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Narayana Hrudayalaya has raised Rs 184 crore from 15 anchor investors, including the Singapore government, at the upper price band.
The company has set a price band of Rs 245-250 for the sale.
Post-IPO, promoters will have 65% stake in the company.
The IPO includes an offer of sale of up to 2.45 crore equity shares from promoters and other existing shareholders, representing 14.04% stake in the company.
The book running lead managers to the offer are Axis Capital, IDFC Securities and Jefferies India.
Narayana Hrudayalaya is the third company from the healthcare sector to launch an IPO this month after diagnostic chain Dr Lal PathLabs and pharmaceutical firm Alkem Laboratories.
Devi Shetty had set up the hospital in 2,000 and operates a chain of 23 multi-specialty, primary and tertiary healthcare facilities and 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.
