Shalby IPO subscribed fully; issue closes today
The initial public offer of Shalby Ltd, the Ahmedabad-based multi-specialty hospital chain, was oversubscribed 1.08 times in morning session on the last day of the bidding today.
The IPO, which aims to raise Rs 504 crore, received bids for 1,57,11,900 shares against the total issue size of 1,45,21,686 shares – a subscription of 1.08 per cent – data available with NSE till 11.30 am showed.
The initial share sale, which opened to public subscription on December 5, will close today. Shalby on Monday raised over Rs 150 crore from anchor investors.
The IPO comprises a fresh issue of shares aggregating up to Rs 480 crore and an offer for sale of up to 10 lakh equities.
The price band has been fixed at Rs 245-248. At the upper end, the public issue would fetch Rs 504 crore.
Proceeds of the IPO will be utilised towards repayment of borrowings by the company, besides purchase of medical equipment for the existing, recently set-up as well as upcoming hospitals.
In recent months, healthcare services firms like Alkem Laboratories, Dr Lal Pathlabs, Narayana Hrudayalaya, Thyrocare and Eris Lifesciences have tapped the primary market through the IPO route.