Shares of Gujarat Kidney and Super Specialty got listed at a decent premium on Dalal Street on Tuesday (December 30) in the final mainboard debut of the year. The listing also beat expectations as signaled by the latest gray market premium (GMP) for its initial public offering (IPO).
Gujarat Kidney share price listed at 120.75 on the BSE, a premium of 6.75 or 5.92% over the IPO price of 114. Meanwhile, on NSE, Gujarat Kidney stock opened 6 or 5.26% higher at 120.
Ahead of the stock market debut, the Gujarat Kidney IPO GMP was 1.5, according to investorgain.com, suggesting a listing pop of just 1.32%.
Gujarat Kidney IPO details
Gujarat Kidney IPO received 5.21 times subscription as of the final day of share sale, attracting bids for 6,89,69,088 shares as against 1,32,26,880 shares on offer.
The category for retail investors was booked 19.04 times, while the quota for non-institutional investors received 5.73 times bids. The portion meant for qualified institutional buyers closed with 1.06 times subscription.
The The 250-crore Gujarat Kidney IPO was entirely a fresh issue of 2.20 crore equity shares.
The IPO was open for subscription from December 22 to December 24. The allotment was finalized on December 26, and the shares were credited to the account of the allottees on December 29. The refund was also initiated on the same day.
The price band for the Gujarat Kidney IPO was set at 108 Rs 114 per share. The minimum lot size for an application was 128 shares.
Gujarat Kidney plans to use the funds for the proposed acquisition of Parekhs Hospital at Ahmedabad, part-payment of purchase consideration for the already acquired Ashwinin Medical Centre. Additionally, the company looks to fund capex needs towards setting up a new hospital in Vadodara, buying robotics equipment and repaying certain borrowings of the company.
Lastly, the company has plans to use IPO proceeds for inorganic growth through unidentified acquisitions and the acquisition of additional shareholding in the subsidiary Harmony Medicare Private Limited.
Nirbhay Capital Services Pvt. Ltd. was the book-running lead manager for the issue, and MUFG Intime India Pvt. Ltd. was the registrar.
Gujarat Kidney and Super Specialty is a regional healthcare company located in Gujarat. It offers a range of integrated healthcare services, with a focus on secondary and tertiary care.
Disclaimer: This story is for educational purposes only. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
