Gujarat Kidney and Super Speciality IPO got subscribed more than 2 times on the second day of share sale on Tuesday.
The initial public offering of healthcare company Gujarat Kidney and Super Speciality Ltd received 1.47 times subscription on the first day of share sale on Monday.
On the second day on Tuesday, the IPO received bids for 2.88-crore shares against 1.32 crore shares on offer, according to the NSE data, translating to 2.18 times, till 12:40 p.m.
The category for Retail Individual Investors (RIIs) fetched 8.26 times subscription, while the quota for non-institutional investors got subscribed 2.43 times. The category for Qualified Institutional Buyers (QIBs) received 34 percent subscription.
Earlier, the company mobilised a little over Rs 100 crore from anchor investors.
According to platforms tracking the grey market activities, the shares of Gujarat Kidney and Super Speciality are commanding a GMP of about 4 percent in the unregulated market. Investorgain quoted a GMP of Rs 4 for the shares of the company, indicating a listing gain of 3.51 percent. Meanwhile, another platform IPO Watch quoted a GMP of 4 percent.
The Rs 251-crore initial public offering (IPO) will conclude on December 24. It has fixed a price band of Rs 108-114 per share.
Proceeds from the fresh issue will be used for the proposed acquisition of Parekhs Hospital at Ahmedabad and part-payment of purchase consideration for the already acquired "Ashwini Medical Centre".
Also, funds will be used for setting up a new hospital in Vadodara, buying robotics equipment for the hospital at Vadodara, debt repayment, funding inorganic growth through unidentified acquisitions, and general corporate purposes.
Gujarat Kidney and Super Speciality is one of the regional healthcare companies located in the central region of Gujarat and operates a chain of mid-sized multi-speciality hospitals, providing integrated healthcare services, with a focus on secondary and tertiary care.
Shares of the company are proposed to be listed on the BSE and NSE on December 30, while the allotment is expected by December 26.
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