New Delhi, Dec 7 (PTI) The initial share sale of ShalbyLtd, the Ahmedabad-based multi-specialty hospital chain, wassubscribed 2.8 times on the last day of the bidding today,stock exchange data showed.
The IPO, which aims to raise Rs 504 crore, received bidsfor 4,08,66,300 shares against the total issue size of1,45,21,686 shares - translating into 2.8 times subscription- data available with NSE till 2000 hours showed.
The portion set aside for qualified institutional buyers(QIBs) was subscribed 4.47 times, high net-worth individuals43 per cent, retail investors 2.97 times and employees 1.43times, investment banking sources said.
The IPO received over 3 lakh applications, they added.
On Monday, Shalby had raised over Rs 150 crore fromanchor investors.
The IPO comprised a fresh issue of shares aggregating upto Rs 480 crore and an offer for sale of up to 10 lakhequities.
The price band has been fixed at Rs 245-248. At the upperend, the public issue would fetch Rs 504 crore.
Proceeds of the IPO will be utilised towards repayment ofborrowings by the company, besides purchase of medicalequipment for the existing, recently set-up as well asupcoming hospitals.
In recent months, healthcare services firms like AlkemLaboratories, Dr Lal Pathlabs, Narayana Hrudayalaya, Thyrocareand Eris Lifesciences have tapped the primary market throughthe IPO route. PTI VRNSBT.
This is unedited, unformatted feed from the Press Trust of India wire.