HealthCare Global IPO subscribed 21% on Day One

Most of the bids came from institutional investors

HealthCare Global Enterprises (HCG)’s 16.4-million share offering was subscribed 21 per cent on Wednesday, the first day of the issue. Most of the bids came from institutional (big-money) investors.

A day earlier, HCG had raised Rs 292 crore from 11 anchor investors, including Citibank, Sundaram Mutual Fund, and HDFC Standard Life Insurance Company. HCG has set a price band of Rs 205-218 per share for its initial public offering, open till Friday.