Narayana Hrudayalaya lists at 20% premium from issue price

Moneycontrol BureauNarayana Hrudayalaya is listed at the NSE at Rs 299 per share, up 20 percent from its issue price of Rs 250. Soon after opening, it touched an intraday high of Rs 316 per share, rising 27 percent. Promoted by renowned cardiac surgeon Devi Shetty, the healthcare service major’s initial public offer (IPO) opened on December 17 and closed on December 21. It raised Rs 184 crore from 15 anchor investors at Rs 250 per share. The healthcare segment in primary market has seen a lot of value attraction for sometime now. The sector ended 2015 with a bang after listing of Dr Lal Pathlabs and Alkem Labs. Both the blockbuster IPO rocked Dalal Street with bumper opening as Alkem Labs ended the day with 31 percent returns and Dr Lal Pathlabs surged 52 percent on same day.

Meanwhile, Narayana Hrudayalaya company operates 31 hospitals and 24 primary care facilities across India, with 5442 operational beds and the potential to reach a capacity of up to 6,602 beds. In FY15, its facilities have provided care to over 19.7 lakh patients.

In FY15, it generated 90.7 percent of total revenues from 19 hospitals offering multispecialty and super specialty services, 7.3 percent from heart centres and the remaining from the management fee received from four managed hospitals, ancillary businesses and other standalone clinics and primary care facilities.In FY15 it incurred a net loss of Rs 10.86 crore due to operations in Cayman Island and a revenue of Rs 1371.5 crore. Growth picked up pace in first half of FY16 as net profit stood at Rs 12.5 crore on a revenue of Rs 788.56 crore and margins at 11.7 percent. It has cash of Rs 44 crore. As of September 2015, its has a net debt of Rs 294 crore.

Posted by Nasrin SultanaFollow @NasrinzStory