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Global Health IPO secures 10 times subscription on final day — retail portion booked 88%

Global Health IPO secures 10 times subscription on final day — retail portion booked 88%

Global Health IPO secures 10 times subscription on final day — retail portion booked 88%
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By Sandeep Singh  Nov 9, 2022 7:50:15 AM IST (Updated)

Medanta IPO: Potential investors could bid for Global Health shares under the IPO in a price range of Rs 319-336 in multiples of 44. Global Health shares are likely to be listed on BSE and NSE on November 16.

Global Health's IPO, to raise up to Rs 2,206 crore, concluded on Monday with a subscription of 9.6 times. By the end of the bidding process, the initial share sale of Global Health — the operator of Medanta hospitals — received bids for 44.8 crore share against the 4.7 crore shares on offer, according to provisional exchange data.

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The subscription window for the IPO was open for three trading days, between 10 am and 5 pm. Global Health shares are likely to be listed on bourses BSE and NSE on November 16.
Potential investors could bid for Global Health (Medanta) shares in a price range of Rs 319-336 in multiples of 44 — which translates to Rs 14,036-14,784 per lot.
Out of the total IPO, 50 percent was reserved for qualified institutional buyers (QIBs), 15 percent for non-institutional investors — or high net worth individuals — and 35 percent for retail investors.
Reliance Securities had a 'subscribe' rating on the Global Health IPO, citing the company's strong clinical expertise, presence in top cities of larges states, and focus on research, academics and underserved areas with dense population.
The company is valued at a price-to-earnings multiple of 46 times its earnings for the year ended March 2022.
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