The initial public offering (IPO) of Gujarat Kidney Institute Limited has made a promising debut on the stock markets, attracting significant investor interest right from the opening day. The public issue, which commenced its subscription process on December 22, was oversubscribed 1.53 times by the end of the first day of bidding.
Robust Investor Demand Across Segments
According to the latest data from the stock exchanges, investors placed bids for a total of 2.02 crore equity shares against the IPO's total offer size of 1.32 crore shares. A detailed breakdown reveals a particularly enthusiastic response from retail individual investors (RIIs). The retail portion of the IPO was subscribed a remarkable 5.06 times, showcasing strong confidence from the common investing public.
The category for non-institutional investors (NIIs), which includes high-net-worth individuals, also showed healthy appetite, subscribing 1.97 times. The qualified institutional buyers (QIBs) segment, however, was more reserved, with a subscription level of 0.34 times on the first day. The bidding window for the IPO will remain open until Wednesday, December 24.
IPO Details and Key Dates for Investors
Gujarat Kidney's IPO is a book-built issue worth ₹250.80 crore, comprising a fresh issue of 2.20 crore shares. The company has set a price band of ₹108 to ₹114 per share. For retail investors, the minimum application size is one lot of 128 shares, requiring a minimum investment of ₹14,592 at the upper price band of ₹114.
The timeline for the IPO process is as follows:
- Allotment Finalization: Expected on Friday, December 26.
- Refund Initiation: Scheduled for Monday, December 29.
- Credit to Demat Accounts: Shares will be credited on the same day as refunds.
- Tentative Listing Date: Tuesday, December 30 on both the BSE and NSE.
Grey Market Premium and Company Profile
In the unofficial grey market, the Gujarat Kidney IPO is commanding a premium, indicating a potential listing gain. As of now, the grey market premium (GMP) is ₹7 per share. Based on this and the upper price band, the estimated listing price stands at around ₹121, which would represent a 6.14% premium over the issue price. It is crucial for investors to remember that GMP is an informal indicator and can be volatile.
Gujarat Kidney Institute is a prominent regional healthcare provider based in central Gujarat. The company operates a chain of mid-sized, multi-specialty hospitals with a strong focus on secondary and tertiary care. On a consolidated basis, its network includes:
- 7 multi-specialty hospitals
- 4 pharmacies
- Total bed capacity: 490 beds
- Approved bed capacity: 455 beds
- Operational bed capacity: 340 beds
The strong initial subscription, especially from retail investors, reflects market optimism towards the company's established presence in the growing healthcare sector of Gujarat. Investors are advised to consult with certified financial experts before making any final investment decisions regarding this or any other public issue.
