Healthcare company Gujarat Kidney IPO gets 5.21 times subscription

New Delhi, Dec 24 (PTI) The initial public offer of healthcare company Gujarat Kidney and Super Speciality Ltd received 5.21 times subscription on the final day of share sale on Wednesday.

The IPO got bids for 6,89,69,088 shares against 1,32,26,880 shares on offer, as per NSE data.

The category for Retail Individual Investors (RIIs) attracted 19.04 times subscription, while the quota for non-institutional investors received 5.73 times subscription. The portion meant for Qualified Institutional Buyers (QIBs) received 1.06 times subscription.

Gujarat Kidney and Super Speciality has mobilised a little over Rs 100 crore from anchor investors.

The Rs 251-crore initial public offering (IPO) has a price band of Rs 108-114 per share.

The IPO is entirely a fresh issue of up to 2.2 crore equity shares worth Rs 250.8 crore at the upper end of the price band.

Proceeds from the fresh issue will be used for the proposed acquisition of Parekhs Hospital at Ahmedabad and part-payment of purchase consideration for the already acquired "Ashwini Medical Centre".

Also, funds will be used for setting up a new hospital in Vadodara, buying robotics equipment for the hospital at Vadodara, debt repayment, funding inorganic growth through unidentified acquisitions, and general corporate purposes.

Gujarat Kidney and Super Speciality is one of the regional healthcare companies located in the central region of Gujarat, and operates a chain of mid-sized multi-speciality hospitals, providing integrated healthcare services, with a focus on secondary and tertiary care.

It operates seven multispeciality hospitals with a total capacity of 490 beds.

The company's shares are proposed to be listed on the BSE and NSE. PTI SUM HVA