Tepid response to Hrudayalaya IPO, 26% subscribed on Day 2

NEW DELHI: The initial public offering (IPO) of Narayana Hrudayalaya saw tepid response from investors on the second day of the issue. By 3 pm, the issue received bids for 43,95,240 shares, or roughly 26 per cent of the total issue size of 1,71,66,309, data available on the NSE website showed.

On Day 1, the Rs 613 crore IPO had received bids for 12,34,860 shares, which was roughly 7 per cent of the issue size. While the combined demand on BSE and NSE was unavailable, NSE bids on Friday suggested that non-institutional investors have largely stayed away from the issue so far.

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On NSE, the issue was subscribed 20 per cent (34,02,540 shares), with most demand coming from qualified institutional buyers (QIBs), who have bid for 20,97,600 shares or 0.43 times their quota limit so far. The quota for retail institutional investors (RII) and non-institutional investors was subscribed 0.15 times and 0.01 times, respectively.

The combined demand data will be updated after 5 pm.

Narayana Hrudayalaya has raised Rs 184 crore from 15 anchor investors, including the Singapore government, at the upper limit of the price band. The IPO will close on December 21. The price band for the issue has been set at Rs 245- 250.

The IPO includes an offer of sale of up to 2.45 crore equity shares from promoters and other existing shareholders, representing a 14.04 per cent stake in the company. Post-IPO, the promoters will hold a 65 per cent stake in the company.