Broach Lifecare Hospital’s shares made an impressive debut on the BSE on August 21, listing at a 90% premium after a highly successful IPO. The shares opened at ₹47.50, significantly higher than the issue price of ₹25, and quickly rose to ₹49.87.
The ₹4.02 crore IPO, which was entirely a fresh issue of 16.08 lakh shares, received an overwhelming response, being subscribed 159.11 times. Investors placed bids for 24.24 crore shares against the 15.24 lakh shares offered.
Broach Lifecare plans to use the funds from the IPO for general corporate purposes, creating a medical tourism web portal, and purchasing new machinery. The company specializes in non-invasive cardiology services and manages boutique hospitals.
Despite a strong start for Broach Lifecare, the broader Indian stock market, represented by the Sensex and Nifty 50, traded flat in the first half of the session due to weak global signals ahead of the Jackson Hole symposium. Experts predict short-term volatility but remain optimistic about the market’s medium to long-term outlook.
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