Aster DM Healthcare’s IPO was subscribed 26 per cent on Monday, the first day of the issue. The IPO, which aims to raise Rs 9.8 billion, received bids for over 7.2 million shares against the total issue size of over 374 million scrips.
On Friday, the hospital chain operator had allotted 13.4 million shares to eight anchor investors at Rs 190 apiece to raise around Rs 2.9 billion. The price band for the IPO is Rs 180 to Rs 190 per share. Aster DM’s Rs 9.8 billion-IPO closes on Thursday.
The company had raised Rs 2.94 billion from anchor investors on Friday. The IPO comprises fresh issue of equity shares worth up to Rs 7.25 billion and an offer for sale of up to 13 million scrips by the company's promoter Union Investments. Proceeds of the issue would be used towards repayment of debt, purchase of medical equipment, and for other general corporate purposes.