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Lukewarm response for Aster Healthcare’s IPO on first day

Qualified institutional investors pick up 50% meant for them but retail subscription flounders at just 4%

Gulf News

Dubai: Aster Healthcare’s Initial Public Offering (IPO) on bourses in India was over-subscribed only 0.19 times on the first day of subscription, according to exchange data.

The IPO received bids for 7 million shares out of the total of 37 million shares, the data from the National Stock Exchange showed. About 50 per cent of the portion meant for the qualified institutional investors portion was subscribed, while the retail subscription stood only at 4 per cent.

The price range for the IPO is between Rs180 and Rs190 (Dh10.26 and Dh10.83), and the last date for subscription is February 15.