August 21, 2024
The initial public offering (IPO) of Broach Lifecare Hospital Limited has seen overwhelming demand, being subscribed a staggering 657.81 times by investors. The IPO, which opened for subscription recently, garnered significant interest across all investor categories, reflecting strong confidence in the company's future prospects.
Subscription Details
Qualified Institutional Buyers (QIBs): The QIB portion was subscribed 450.04 times, with 3,58,400 shares on offer. The total number of shares bid for by QIBs reached an impressive 16,12,92,800.
Non-Institutional Investors (NIIs): The NII category witnessed the highest level of oversubscription at 854.49 times. Against 8,00,000 shares offered, bids were received for a massive 68,35,88,800 shares.
Retail Investors: Retail investors also showed robust interest, with the retail portion being subscribed 588.74 times. A total of 70,64,89,600 shares were bid for against the 12,00,000 shares on offer.
In total, the IPO received bids for 1,55,13,71,200 shares, compared to the 23,58,400 shares available, highlighting the strong demand among investors. The total number of applications received stood at 441,557.
Market Enthusiasm for Broach Lifecare Hospital
The overwhelming subscription numbers suggest that Broach Lifecare Hospital Limited has struck a chord with investors, likely due to its strong brand presence in the healthcare sector and its growth prospects in India's expanding medical infrastructure.
Brace Port Logistics SME IPO
Meanwhile, Brace Port Logistics, another company that recently launched its SME IPO, has also attracted considerable attention in the market. As of August 21, 2024, the last Grey Market Premium (GMP) for Brace Port Logistics SME IPO was ₹118, bringing its estimated listing price to ₹198. This is a substantial increase from its issue price band of ₹80, indicating an expected percentage gain of 147.50% per share upon listing.
The strong GMP reflects positive investor sentiment and high expectations from the IPO, making Brace Port Logistics another closely watched name in the market.
Conclusion
The success of Broach Lifecare Hospital Limited's IPO, alongside the promising performance of Brace Port Logistics in the grey market, signals continued investor confidence in the Indian IPO market. As these companies move closer to their listing dates, market participants will be keenly watching their performance, which could set the tone for future IPOs in the healthcare and logistics sectors.
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