Narayana Hrudayalaya advances on debut

Shares of Narayana Hrudayalaya were trading at Rs 323.40 at 10:24 IST on BSE, a premium of 29.36% over the initial public offer price of Rs 250 per share.

Meanwhile, the S&P BSE Sensex was down 15.26 points or 0.06% at 25,565.08

Shares of Narayana Hrudayalaya debuted at Rs 291 on BSE, a premium of 16.4% compared with its initial public offer (IPO) price of Rs 250 per share. The stock hit a high of Rs 324 and a low of Rs 291 so far during the day. On BSE, 37.06 lakh shares were traded in the counter so far during the day.

The company had priced the initial public offer (IPO) at the top end of the Rs 245 to Rs 250 per share price band for the IPO. The bidding for the IPO ended on 21 December 2015. The issue was subscribed 8.70 times.

Headquartered in Bengaluru, Narayana Hrudayalaya operates a chain of 23 hospitals, 8 heart centres and 24 primary care facilities across India. The hospitals provide advanced levels of care in over 30 specialties, including cardiology, cardiac surgery, cancer care, neurology, neurosurgery, orthopaedics, nephrology, urology and gastroenterology. The company is currently in the process of commissioning a dedicated paediatric hospital in Mumbai and a multispecialty hospital at Lucknow in Uttar Pradesh.

Based on the consolidated financial performance, Narayana Hrudayalaya reported net profit of Rs 12.48 crore on revenue from operations of Rs 783.36 crore for six months ended September 2015. The company registered a net loss of Rs 10.86 crore on revenue from operations of Rs 1363.85 crore for the year ended 31 March 2015.

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