0 months ago
Manipal Health Enterprises Shares Jump 13% on Market Debut
Manipal Health Enterprises is a big hospital company based in Bengaluru, India.
It wanted to raise money from the public, so it offered its shares for sale in something called an IPO.
Many more people wanted to buy shares than were available, so the IPO was subscribed 4.92 times.
The company priced each share between Rs 560 and Rs 590.
When the shares started trading on the stock market on Wednesday, people were very eager to buy them.
The share price jumped as soon as trading began, rising more than 14% at one point.
By the end of the day, the shares were worth 13% more than the issue price.
That made the whole company worth about Rs 87,696 crore, so buyers who got shares early made a profit on the very first day.
Manipal Health Enterprises shares ended their first trading day up 13% at Rs 666.70 on the BSE and Rs 666.95 on the NSE.
The stock listed at Rs 655 on the BSE (up 11%) and Rs 652 on the NSE (up 10.50%) against an issue price of Rs 590.
The company's market valuation stood at Rs 87,696.20 crore after the debut.
The IPO, priced in a band of Rs 560-590 per share, was subscribed 4.92 times when bidding closed last Friday.
The Bengaluru-based company's IPO comprised a fresh issue of equity shares worth up to Rs 8,000 crore and an Offer-for-Sale of up to 2.16 crore shares.
- Who
- Manipal Health Enterprises, a Bengaluru-based healthcare company.
- What
- Its shares rose 13% on their stock market debut after a heavily subscribed IPO.
- Where
- On the BSE and NSE stock exchanges in India; the company is based in Bengaluru.
- When
- Wednesday (no specific date given in the article); IPO bidding closed the previous Friday.
- Why
- Strong investor demand, reflected in the IPO being subscribed 4.92 times.
Key facts
- Issue Price
- Rs 590 per share
- Listing Price
- Rs 655 on BSE (up 11%); Rs 652 on NSE (up 10.50%)
- Closing Price
- Rs 666.70 on BSE; Rs 666.95 on NSE (both up 13%)
- Intraday High
- Rs 676.05 (up 14.58%)
- Market Valuation
- Rs 87,696.20 crore
- IPO Subscription
- 4.92 times
- IPO Price Band
- Rs 560-590 per share
- IPO Components
- Fresh issue up to Rs 8,000 crore; OFS up to 2.16 crore shares
Sources
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