Medanta operator Global Health shares jump over 24 pc in debut trade

In addition, one hospital is under construction in Noida.

Shares of Global Health, which operates hospitals under the Medanta brand, ended over 24 per cent higher on Wednesday, the first day of trade, against the issue price of Rs 336.

The company's stock made its market debut at Rs 398.15, rallying 18.49 per cent on the BSE. During the day, it zoomed 26.45 per cent to Rs 424.90. The stock later ended at Rs 415.65 apiece, higher by 23.70 per cent.

On the NSE, it listed at Rs 401, a jump of 19.34 per cent and settled at Rs 417.30 apiece, higher by 24.19 per cent.

The company commanded a market valuation of Rs 11,147.10 crore on the BSE.

On volume terms, 22.55 lakh shares of the firm were traded on the BSE and 4.93 crore shares on the NSE during the day.

The Initial Public Offering (IPO) of Global Health was subscribed 9.58 times on the final day of the offer, last Monday.

The offer had a price range of Rs 319-336 a share.

Founded by Naresh Trehan, a renowned cardiovascular and cardiothoracic surgeon, Global Health is a leading private multi-speciality tertiary care provider in the north and east regions of India.

Global Health, backed by private equity investors such as Carlyle Group and Temasek, operates a network of five hospitals under the 'Medanta' brand in Gurugram, Indore, Ranchi, Lucknow and Patna. In addition, one hospital is under construction in Noida.