Shalby Hospitals makes market debut at 3% discount

Galtero Lara
Diciembre 15, 2017

The Shalby Ltd stock closed 3.53 percent or 8.75 points lower at Rs 239.25 on Friday after the multispecialty hospital chain share listed at over 4 percent discount over the issue price of Rs 248.

The stock listed at Rs 237 on BSE, a discount of 4.43% compared with the issue price of Rs 248 per share.

In terms of equity volume, 18.05 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the day. The initial public offer (IPO) comprised a fresh issue of shares aggregating up to Rs 480 crore and an offer for sale of up to 10 lakh equities. The IPO was subscribed 2.82 times. The retail individual investors (RIIs) category was subscribed 2.98 times.

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The company will use Rs 300 crore from the IPO kitty to retire the debt, which would reduce Rs 27 crore of finance cost in FY18 and make the company nearly debt free.

On a consolidated basis, the company reported net profit of Rs 14.39 crore on total income of Rs 90.60 crore in Q1 June 2017.

The company's hospitals are tertiary care hospitals, few of which also offer quaternary healthcare services to patients in various areas of specialisation such as orthopaedics, complex joint replacements, cardiology, neurology, oncology and renal transplantations.

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