Narayana Hrudayalaya jumps over 25 pct in market debut

MUMBAI (Reuters) - Shares of Narayana Hrudayalaya , which operates a chain of hospitals in the country, rose more than 25 percent in their stock market debut on Wednesday, boosting the outlook for initial public offerings in this year.

The company's shares opened at 291 rupees and rose to as high as 318 rupees in the early deals, against the IPO issue price of 250 rupees a share, according to the National Stock Exchange data.

Narayana had raised $92 million last month via the IPO. The strong market debut by the company comes close on the heels of other successful listings in the Indian market in the last couple of months, which has brightened the share sale outlook in 2016.

 

(Reporting by Karen Rebelo; Writing by Sumeet Chatterjee)