Nephrocare, Park Medi World: Two IPO listings today; check latest GMP before D-st listing

Two new companies, namely- Park Medi World and Nephrocare Health Services- are set to make their Dalal Street debut on Wednesday, December 17 on BSE and NSE. Both the companies received decent response from the investors during the bidding process, which ran between December 10 and December 12. Their stock market listing seen as a likely mixed bag.

Ahead of its listing, Park Medi World was commanding a grey market premium (GMP) of Rs 4-5 apeice, suggesting a listing pop of around 3 per cent for investors. However, its GMP, which had slipped but rebounded ahead of its debut, hinting at mild listing gains for the investors.

Similarly, Nephrocare Health Services also made a marginal recovery in its premium in the unofficial market. Last heard, Nephrocare was commanding a GMP of Rs 35-37 per share, hinting at a mild listing pop of 7-8 per cent for the investors. However, its GMP stood around Rs 33-35 during the bidding process.

The issue of Park Medi World has received a strong response from both institutional and retail investors and GMP is reflecting positive pre-listing sentiment and expectations of a stable to moderately positive listing, said Shivani Nyati, Head of Wealth at Swastika Investmart.

"The IPO of Nephrocare also witnessed strong investor interest. Market indicators suggest that GMP has risen into positive territory, with grey market premiums reported up to around Rs 37–38 per share, implying a potential 8 per cent pre-listing upside over the IPO price band, reflective of moderately positive sentiment," she adds.

Nephrocare Health Services raised a total 871.05 crore via IPO. It had offered its shares in the price band of Rs 438-460 per share with a lot size of 32 shares. The issue was overall subscribed a total of 13.96 times, attracting bids nearly Rs 8,600 crore through more than 4.54 lakh applications.

Incorporated in 2010, Hyderabad-based Nephrocare Health Services provides end-to-end dialysis care through a wide network of clinics across India and select international markets. ICICI Securities, IIFL Capital Services, Ambit and Nomura Financial Advisory and Securities (India) were the book running lead managers and Kfin Technologies served as the registrar of the issue.

New Delhi-based Park Medi World sold its shares in the price band of Rs 154-162 per share with a lot size of 92 shares to raise a total of 920 crore via IPO. The issue was overall subscribed a total of 8.10 times, attracting bids nearly Rs 5,500 crore through more than 6.45 lakh applications.

Incorporated in 2011, Park Medi World is a private hospital chain operating primarily in North India, with a total bed capacity of 3,000 beds. It operates 14 multi-super specialty hospitals under the ‘Park’ brand. Nuvama Wealth Management, CLSA India, DAM Capital Advisors and Intensive Fiscal Services were the book running lead managers and Kfin Technologies was the registrar.