Aster DM Health IPO subscribed 26% on Day One

Aster DM Healthcare’s IPO was subscribed 26 per cent on Monday, the first day of the issue. The IPO, which aims to raise ~9.8 billion, received bids for over 7.2 million shares against the total issue size of over 374 million scrips.

The qualified institutional buyer (QIB), high networth individual (HNI) and retail investor portion of the offering were subscribed 51 per cent, 17 per cent and 16 per cent respectively.

On Friday, the hospital chain operator had allotted 13.4 million shares to eight anchor investors at ~190 apiece to raise around ~2.9 billion. The price band for the IPO is ~180 to ~190 per share. Aster DM’s ~9.8 billion-IPO closes on Thursday.

The company had raised ~2.94 billion from anchor investors on Friday. The IPO comprises fresh issue of equity shares worth up to ~7.25 billion and an offer for sale of up to 13 million scrips by the company's promoter Union Investments. Proceeds of the issue would be used towards repayment of debt, purchase of medical equipment, and for other general corporate purposes.