Moneycontrol Bureau
Giving smart returns on debut day of listing, Narayana Hrudayalaya managed to keep up tempo of the newly-listed healthcare stocks. The heart specialist company ended at Rs 336.95, up 35 percent (from issue price of Rs 250) on day 1 of listing on NSE.
Narayana Hrudayalaya was listed at the NSE at Rs 299 per share, up 20 percent from its issue price. It touched intraday high of Rs 345.65, up 38.26 percent on Wednesday. On the BSE, it touched a high of Rs 344.20 per share and traded with volumes of 8,951,359 shares.
Promoted by renowned cardiac surgeon Devi Shetty, the initial public offering (IPO) opened on December 17 and closed on December 21. It raised Rs 184 crore from 15 anchor investors at Rs 250 per share. It raised RS 613 crore through the IPO.
Narayana Hrudayalaya 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
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