News Details
Category : IPO
Headline : Cian Healthcare Ltd. debuts with 4.61% discount at Rs 62.00
Date: 23/05/2019 20:00
Cian Healthcare Ltd. makes a weak debut on the bourses with scrip got listed at Rs 62.00 on the Bombay Stock Exchange, a 4.61 per cent discount to its issue price of Rs 65.00.

The company, which raised 0.62 Cr from initial public offering, was subscribed 1.09 times, receiving bids for 67.75 lakhs shares against the total issue size of 62.16 lakhs shares.

The company, listed under MT Group Securities post its IPO, opened for subscription from May 02 to May 09.

Following a weak opening, the scrip touched an intraday high of Rs 62.90 and a low of Rs 58.90, before closing the session up by 5.38 per cent to its listing price at Rs 61.50 on the BSE.

The company anticipates using the proceeds of the issue for Upgradation of existing plant ie Unit situated at Roorkee, Uttarakhand, India, Margin Money for Setting up of manufacturing facility ie Unit situated at Roorkee, Uttarakhand, India, Enhancement of the Company’s brand through advertising and other brandbuilding activities, Long term working capital requirements, Acquisitions and other strategic initiatives, General corporate purposes.

Fedex Securities Ltd. as lead managers & Bigshare Services Pvt Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 38,811.39, down 298.82 points, or 0.76 per cent.