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Shares of multi-speciality hospital chain Shalby Ltd made a sluggish debut on the bourses today, falling more than 4 per cent over the issue price of Rs 248. The stock got listed at Rs 237, down 4.43 per cent over the issue price on BSE. It later dipped 4.75 per cent to Rs 236.20.
On the NSE, the stock debuted at Rs 239.70, falling 3.34 per cent as compared to the issue price. In volume terms, 12.07 lakh shares of the company were traded on the BSE and over 68 lakh shares changed hands on the NSE during the morning trade.
The IPO, which opened for subscription from December 5-7, was subscribed 2.8 times at a price band of Rs. 245-248 per share. The portion set aside for qualified institutional buyers (QIBs) was subscribed 4.47 times, high net-worth individuals 43 per cent, retail investors 2.97 times and employees 1.43 times.
The initial public offer (IPO) comprised fresh issue of shares aggregating up to Rs. 480 crore and an offer for sale of up to 10 lakh equities. Proceeds of the IPO will be utilised towards repayment of borrowings by the company, besides purchase of medical equipment for the existing, recently set-up as well as upcoming hospitals.
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