Stock Market

HealthCare Global’s Rs 650-cr IPO subscribed 21% on Day 1

HealthCare Globals Rs 650-cr IPO subscribed 21% on Day 1

The IPO of cancer-care network operator HealthCare Global Enterprises (HCG) was subscribed 21 percent on the first day of the issue today.

The Rs 650-crore issue received bids for 34,19,715 shares against the total issue size of 1,63,90,000 shares, data available with the NSE till 1700 hrs showed.

The qualified institutional buyers’ portion was subscribed 34 per cent, while retail investors segment saw 11 per cent subscription.

HCG is the fourth company after Precision Camshafts , TeamLease Services and Quick Heal Technologies to hit Dalal Street with an IPO in 2016.

It has already raised Rs 292 crore through issue of shares to 11 anchor investors.

It has fixed the price band at Rs 205-218 for the IPO which would conclude on March 18. At the upper end of the price-band, the issue will fetch about Rs 650 crore.

The shares are proposed to be listed on BSE and National Stock Exchange (NSE).

Kotak Mahindra Capital Company, Edelweiss Financial Services, Goldman Sachs (India) Securities, IDFC Securities, IIFL Holdings and Yes Bank are the book running lead managers to the issue.

The Bengaluru-based firm operates one of the largest cancer care networks in the country under the brand name HCG.

Currently, HCG has 14 comprehensive cancer centres.