Shares of Manipal Health Enterprises made a strong stock market debut on Wednesday, listing at Rs 655, a premium of 11% over its issue price of Rs 590. The listing far outpaced grey market expectations, which had signalled a modest 1% premium before the debut.
The company's Rs 9,275.22 crore IPO was subscribed 4.92 times overall. The public issue comprised a fresh issue of 13.56 crore equity shares worth Rs 8,000 crore and an offer for sale of 2.16 crore shares aggregating Rs 1,275.22 crore, taking the total issue size to Rs 9,275.22 crore.