On Day 1 of Global Health IPO, applications received for 26% of subscription amount

On the first day of the offer on Thursday, 26% of Global Health’s initial public offering (IPO), which runs hospitals under the Medanta name, was subscribed.

According to information available with the NSE, the company’s IPO attracted bids for 1,19,502,688 shares versus the 4,67,42,397 shares on offer. Retail Individual Investors (RIIs) made up 12% of the total subscriptions, followed by Non-Institutional Investors (18%) and Qualified Institutional Buyers (QIBs) (54%).

A fresh issue of up to Rs 500 crore and an offer to sell up to 5,07,61,000 equity shares are both included in the IPO. It trades for between Rs 319 and Rs 336 per share. On Wednesday, Global Health said that it had raised Rs 662 crore from key investors. The company is anticipated to receive Rs 2,206 crore at the top of the pricing range through the IPO.

The fresh issue’s proceeds will be used for general corporate operations and debt repayment. A premier private multi-specialty tertiary care provider in the north and east of India, Global Health was established by renowned cardiovascular and cardiothoracic surgeon Dr. Naresh Trehan.