Shares of Gujarat Kidney & Super Speciality Ltd. debuted on the BSE at a 5.92% premium at Rs 120.75 apiece, and on the National Stock Exchange at Rs 120 per share, marking a 5.26% premium.
The Gujarat Kidney public offer was subscribed 3.71 times. It consists entirely of a fresh issue of 2.2 crore equity shares. The price band for the issue is set at Rs 108 to Rs 114 per share.
Nirbhay Capital Services Pvt. Ltd. is acting as the book-running lead manager for the IPO, while MUFG Intime India Ltd. is the issue registrar.
The company proposes to utilise the IPO funds for the acquisition of Ahmedabad-based Parekhs Hospital and capital expenditure toward setting up a new hospital in Vadodara. A portion of the IPO proceeds will also be used for repayment of debts, funding of inorganic growth and acquisition of additional shares in its subsidiary, Harmony Medicare.
Gujarat Kidney and Super Speciality Ltd., incorporated in 2019, provides multi-speciality healthcare services across multiple cities in Gujarat. It operates seven multi-speciality hospitals with a total bed capacity of 490 beds.
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