Shares of Shalby Ltd, a multi-specialty hospital chain, made its debut on the bourses today after completing its Rs. 504 crore IPO issue. The shares listed at Rs. 239.70, a discount of over 3% against the issue price of Rs 248 on the NSE. While on the BSE the stock listed at Rs. 237.

The subscription to the issue remained open from December 5- December 7 and investors were allowed to bid for a minimum of 60 shares.

At the price band of Rs. 245- 248, the issue got oversubscribed by 2.8 times. The portion reserved for retail investor class was subscribed 2.97 times and 1.43 times by employees of the company. While the QIBs quota was subscribed 4.47 times and HNIs 43%.

The IPO proceeds shall be used to repay debt of the company and towards purchase of medical equipment for existing, upcoming and recently set-up hospitals.

The growth prospects of the company amid increasing demand for quality healthcare and in light of its healthy valuation compared to its listed peers in the market, the company's IPO was given a Subscribe outlook by analysts with a long term perspective and minimum exposure.

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