Narayana Hrudayalaya spurts on debut

Stock settles at Rs 336.70 on BSE

Shares of Narayana Hrudayalaya settled at Rs 336.70 on BSE, a premium of 34.68% over the initial public offer price (IPO) of Rs 250 per share. The stock debuted at Rs 291 on BSE, a premium of 16.4% compared with its IPO price. The stock hit a high of Rs 344.20 and a low of Rs 291 in intraday trade. On BSE, 89.51 lakh shares were traded in the counter.

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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