Narayana Hrudayalaya debuts at 34% premium on BSE

Narayana Hrudayalaya shares today made a strong debut on stock exchanges and settled at Rs336.70 on the Bombay Stock Exchange, with a premium of over 34 per cent over the issue price of Rs250.

During the day, the stock touched a high of Rs344.20 and a low of Rs 291.

On the National Stock Exchange, the stock debuted at Rs291 and surged 16 per cent before finally settling at Rs 336.95, up 34.78 per cent.

During the day, it surged to a high of Rs345.65 and low of Rs 291.

At the end of today's trading session, the company commanded a market capitalisation of Rs6,880.83 crore.

The uptrend at the counter assumes significance as the broader market settled in the negative zone at 25,406.33, down 174.01 points.

Narayana Hrudayalaya had raised Rs613 crore through its Initial Public Offer last month. The offer, which opened for subscription from 17-21 December was subscribed 8.67 times at a price band of Rs245-250 a share.

The institutional investors category was subscribed 17.22 times. In contrast, the portion set aside for retail investors saw 65 per cent subscription while non-institutional investor category was subscribed 45 per cent.

In 2000, Devi Shetty had set up Narayana Hrudayalaya, which operates a chain of 23 multi-specialty, primary and tertiary healthcare facilities, along with eight heart centres and 24 primary care facilities across 31 cities with 5,442 operational beds and a potential to reach a capacity of up to 6,602 beds.