Medanta Operator Global Health's shares list at 19% premium to issue price

Shares of Global Health Ltd made a decent market debut today, listing at a premium of 19.35 per cent against the IPO issue price. The price band of the share sale was Rs 319 to Rs 336 per share. The stock listed at Rs 401 on NSE, 19.35 per cent or Rs 65 higher to the IPO price. Market cap of the firm rose to Rs 10,754 crore. Total 1.47 crore shares of the firm changed hands amounting to a turnover of Rs 590 crore on NSE. The stock listed at Rs 398.15, up Rs 62.15 or 18.5% on BSE. Market cap of Global Health rose to Rs 10,677 crore. Total 3.04 lakh shares of the firm changed hands amounting to a turnover of Rs 12.10 crore on BSE.

At the upper end of the price band, the share sale of Medanta operator raised Rs 2,206 crore through the IPO.

Global Health Ltd carried out the allotment of shares on November 11, 2022. The allotment status was declared on the official website of the registrar and on the BSE website. KFin Technologies Limited was the registrar of the Global Health IPO. The IPO was subscribed over 9 times on the last day of issue on November 7. The firm received bids for 44.79 crore shares against an IPO size of 4.67 crore shares amounting to a subscription of 9.58 per cent on the third and last day of bidding.

The IPO of Global Health consisted of a fresh issue of equity shares aggregating to Rs 500 crore and an offer for sale (OFS) of up to 5.08 crore equity shares by the company's shareholders and the promoters.  The lot size of IPO was 44 shares for which one would have to spend Rs 14,784. A retail individual investor could submit bids for up to 13 lots or 572 shares by spending Rs 1,92,192.

Global Health Limited is one of the largest private multi-speciality tertiary care providers operating in the North and East regions of India. Dr. Naresh Trehan, a renowned cardiovascular and cardiothoracic surgeon, is the promoter of the company. The company has key specialities in cardiology and cardiac science, neurosciences, oncology, digestive and hepatobiliary sciences, orthopaedics, liver transplant, and kidney and urology.

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