Shalby makes tepid debut

Shalby Limited on Friday made a lacklustre debut on the bourses on Friday. The shares of the recently concluded initial public offering got listed at a discount of 3.35 per cent at Rs. 239.70 per share on NSE; and at a discount of 4.4 per cent at Rs. 237 per share on BSE.

However, soon after the listing, the stock gained pace and soared 2.74 per cent to hit an intraday high of Rs. 254.80 per share on NSE.

The IPO was open for subscription from December 5 to 7, 2017 and got oversubscribed 2.8 times. The IPO comprised a fresh issue of shares aggregating up to Rs. 480 crore and an offer for sale of up to 10 lakh equities.

The multi-specialty hospital chain plans to utilized the proceeds of the IPO towards repayment of borrowings by the company, besides purchase of medical equipment for the existing, recently set-up as well as upcoming hospitals.

At 12:55 hours, Shalby was trading at Rs. 249.30 per share, up Rs. 1.60 or 0.56 per cent on the NSE. The stock attracted a traded volume of 76,98,422 shares on NSE.