Mumbai, Mar 30 (PTI) Shares of cancer-care network operator HealthCare Global Enterprises (HCG) made a weak debut at the bourses today, plummeting 19.5 per cent, over the issue price of Rs 218.
The scrip debuted at Rs 209.80, down 3.76 per cent as compared to the issue price, on BSE. Later, as the trade progressed, the stock came under extreme selling pressure, plummeting 19.51 per cent to hit a low of Rs 175.45.
At NSE, shares of the company were listed at Rs 210.20, reflecting a fall of 3.57 per cent. It touched a high of Rs 211.90 and a low of Rs 175. HCG was the fourth company after Precision Camshafts, TeamLease Services and Quick Heal Technologies to come out with an IPO this year.
The Rs 650-crore offer of HealthCare Global which was open from March 16-18, was oversubscribed 1.56 times.
The company had fixed the price band at Rs 205-218 for the IPO. Kotak Mahindra Capital Company, Edelweiss Financial Services, Goldman Sachs (India) Securities, IDFC Securities, IIFL Holdings and Yes Bank were the book running lead managers to the issue.
The Bengaluru-based firm operates one of the largest cancer-care networks in the country under the brand name HCG. HCG has 14 comprehensive cancer-care centres.