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Indian hospital operator Shalby's $79 million IPO subscribed nearly 3 times

7 December, 2017 2:44 PM
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Indian hospital operator Shalby Ltd's initial public offering to raise 5.1 billion rupees (USD 79 million) was subscribed 2.8 times on the last day of the sale on Thursday.

Institutional investors bid for 4.5 times the number of shares reserved for them, while the retail portion was subscribed 2.93 times, data as of 6:00 PM (1230 GMT) showed.

The offer comprised a primary share sale of 4.8 billion rupees, while one of the existing shareholders was selling 1 million shares in the IPO in a price range of 245 rupees to 248 rupees.

India has seen a record year for IPOs with more than USD 11 billion of initial share sales in 2017.

Also read: Syndicate Bank seeks up to $186.4 million in share sale

Source: moneycontrol.com

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