Global Health makes a strong debut, lists 19% higher from issue price


Global Health IPO Listing Price today, November 16: Shares of Global Health, which operates hospitals under the Medanta brand, made a strong debut today getting listed at a premium of around 19 per cent from their issue price on the stock exchanges.

The stock got listed at Rs 401.00 apiece on the National Stock Exchange (NSE), thereby registering a gain of 19.35 per cent from its offer price of Rs 336.00, while on the BSE, it opened at Rs 398.15, up 18.5 per cent from the issue price.

The stock further rose marginally from its opening levels and touched a high of Rs 409.00 on the BSE and Rs 410.00 on the NSE during the first 30 minutes of trade.

At 10:30 am, the scrip was trading at Rs 402.25 on the BSE, up 19.72 per cent from the issue price while on NSE it was at Rs 403.25, up 20.01 per cent. The market capitalisation stood at Rs 10,785.06 crore, data from the BSE showed.

Over 2.90 crore shares of Global Health were traded so far on NSE while around 10.01 lakh shares have exchanged hands on the BSE, data from the respective stock exchange showed.

Founded in August 2004 by renowned cardiovascular and cardiothoracic surgeon Dr Naresh Trehan, Global Health is the largest private multi-speciality tertiary care providers in the North and East regions of India in terms of bed capacity.

Global Health is backed by private equity investment firms such as Carlyle Group and Temasek. The company operates a network of five hospitals under ‘Medanta’ brand name in Gurugram, Indore, Ranchi, Lucknow and Patna. Additionally, one hospital is under construction in Noida.

Commenting on the listing, Parth Nyati, Founder at Tradingo said, “With long term structural factors supporting growth, renewed impetus from PMJAY, and the government’s focus shifting onto the healthcare sector, the healthcare delivery market is expected to grow at 13–15 per cent. The issuer has good patient volumes and cost efficiency, and its financial profile also shows an increasing trend. Finally, the issue is fairly priced at a P/E of 43 as compared to the average industry P/E of 51.93. Those who applied for listing gains can maintain a stop loss of Rs 380.”





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