Shares of Gaudium IVF and Women Health made a decent debut on the bourses on Friday. After listing with a 5 per cent premium at ₹83 on the BSE, the stock further rose to ₹87.25, but surrendered almost all the gains to close at ₹80.48, up 1.87 per cent, against the IPO price ₹79.
On the NSE, the shares of fertility services provider ended at ₹80.26, up 1.59 per cent.
The ₹165 crore IPO of Gaudium IVF was subscribed 7.27 times, thanks to a strong interest from non-institutional and retail investors. The retail portion was subscribed 7.6 times, while the non-institutional investor (NII) by 14.05 times. The quota for qualified institutional buyers received bids for 1.62 times.
Anchor investors
Ahead of the public issue, Gaudium IVF raised ₹49.5 crore from anchor investors. The anchor participants include Meru Investment Fund PCC-Cell, Sanshi Fund I, Hornbill Orchid India Fund and Carnelian India Multi Strategy Fund.
The IPO that hit the market at a price band of ₹75-79 comprised a fresh issue of 1.14 crore shares and an offer for sale of nearly 95 lakh shares by promoter Manika Khanna.
Utility of funds
Proceeds from the fresh issue will be used to set up 19 IVF centres across India, repay debt and meet general corporate expenses, the company said.
With this issue, Gaudium IVF is set to become the first company from India’s fertility care segment to list on the public markets.