Narayana Hrudayalaya to list on NSE & BSE today

According to grey market participants, the shares of Narayana are expected to list with premium of Rs. 30-40 per share.

Narayana Hrudayalaya is set to list on NSE and BSE today. Earlier, in December 2015, the blockbuster listing of two healthcare services providers, Dr Lal Pathlabs and Alkem Laboratories helped the IPO market to end on a strong note in 2015.

With price band of Rs. 245 to Rs. 250, Narayana Hrudayalaya has raised Rs. 613 crore through its initial public offering that was opened for subscription between December 17-21, 2015. The IPO was oversubscribed 8.41 times.

According to grey market participants, the shares of Narayana are expected to list with premium of Rs. 30-40 per share.

Narayana Hrudayalaya (NHL) runs a chain of hospitals with key presence in Karnataka and Eastern region. In a network of 23 hospitals, four are owned seven run on revenue sharing basis and eight are on lease; such an asset light model helps lower capex and faster penetration. Karnataka cluster accounted for 52% of FY15 revenues while Eastern region share stood at 31%. Company has posted 28% revenue CAGR over FY13-15 with margin in the range of ~9.7-11%.