HealthCare Global Enterprises makes weak debut

Shares of HealthCare Global Enterprises were trading at Rs 185.40 at 11:05 IST on BSE, a discount of 14.95% compared with the initial public offer price of Rs 218.

Meanwhile, the S&P BSE Sensex was up 179.21 points or 0.72% at 25,079.67.

The stock debuted at Rs 209.80 on BSE, a discount of 3.76% compared with its initial public offer (IPO) price. The stock hit a high of Rs 211 and a low of Rs 175.45 so far during the day. On BSE, 13.65 lakh shares were traded on the counter so far during the day.

Based on consolidated financial performance, HealthCare Global Enterprises (HGEL) reported net loss of Rs 3.71 crore on sales of Rs 378.89 crore for eight months ended November 2015. The company reported a net profit of Rs 0.55 crore on sales of Rs 519.38 crore for the year ended 31 March 2015.

HGEL is a provider of speciality healthcare in India, focused on cancer and fertility. Under the HCG brand, the company operates the largest cancer care network in India in terms of the total number of private cancer treatment centres licensed by the AERB. HGEL also provides fertility treatment under the Milann brand.

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