 "Aster DM Healthcare makes weak debut; lists 4% below issue price")
Aster DM Healthcare has made a weak debut by listing at Rs 182, a 4.2% discount to its issue price of Rs 190 per share on the BSE. On the National Stock Exchange (NSE), the stock opened at Rs 183.
At 10:04 am; it was trading at Rs 180, a 5% lower against its issue price on the BSE, as compared to 0.59% rise in the S&P BSE Sensex. The stock touched a high of Rs 188 and a low of Rs 176 so far. A combined 3.47 million shares changed hands on the counter on the BSE and NSE so far.
The Rs 9.80 billion initial public offering (IPO) of Aster DM Healthcare, which runs hospitals in India and West Asia, witnessed an overall subscription of 1.31 times. The qualified institutional buyers (QIBs) category of the IPO was subscribed 2.1 times and retail individual investors (RIIs) category was subscribed 1.18 times, while non institutional investors category was under-subscribed 0.55 times.
Aster DM Healthcare is a Kochi-based (Kerala) healthcare service provider, with operations in Gulf Cooperation Council (GCC) states of the United Arab Emirates, Oman, Saudi Arabia, Qatar, Kuwait and Bahrain, India and Philippines.
Of the net proceeds, around Rs 5.6 billion, would be utilised to prepay and/or repayment of the debts availed by the company. Another, Rs 1.1 billion would be utilised for the purchase of medical equipment and rest for general corporate purposes.
At 10:04 am; it was trading at Rs 180, a 5% lower against its issue price on the BSE, as compared to 0.59% rise in the S&P BSE Sensex. The stock touched a high of Rs 188 and a low of Rs 176 so far. A combined 3.47 million shares changed hands on the counter on the BSE and NSE so far.
The Rs 9.80 billion initial public offering (IPO) of Aster DM Healthcare, which runs hospitals in India and West Asia, witnessed an overall subscription of 1.31 times. The qualified institutional buyers (QIBs) category of the IPO was subscribed 2.1 times and retail individual investors (RIIs) category was subscribed 1.18 times, while non institutional investors category was under-subscribed 0.55 times.
Aster DM Healthcare is a Kochi-based (Kerala) healthcare service provider, with operations in Gulf Cooperation Council (GCC) states of the United Arab Emirates, Oman, Saudi Arabia, Qatar, Kuwait and Bahrain, India and Philippines.
Of the net proceeds, around Rs 5.6 billion, would be utilised to prepay and/or repayment of the debts availed by the company. Another, Rs 1.1 billion would be utilised for the purchase of medical equipment and rest for general corporate purposes.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%