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Shalby IPO subscribed 46 percent as on Day 2

Shalby IPO subscribed 46 percent as on Day 2

New Delhi: The initial public offer of Shalby Ltd, the Ahmedabad-based multi-specialty hospital chain, was subscribed 46 per cent as on the second day of the bidding.

The IPO, which aims to raise Rs 504 crore, received bids for over 66 lakh shares as against the total issue size of 1.45 crore — a subscription of 46 percent — data available with the National Stock Exchange (NSE) showed.

The initial share sale, which opened for public subscription on Tuesday, 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 utilized towards repayment of borrowings by the company, besides the purchase of medical equipment for the existing, recently set-up as well as upcoming hospitals.

In recent months, healthcare services firms Alkem Laboratories, Dr. Lal Pathlabs, Narayana Hrudayalaya, Thyrocare and Eris Lifesciences have tapped the primary market through the IPO route.

Source: PTI
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