Entero Healthcare Solutions' shares opened lower than the issue price on the NSE and BSE, indicating a tepid market debut. Learn more about the IPO performance and the company's business.
Photograph: Francis Mascarenhas/Reuters
New Delhi, Feb 16 (PTI) Shares of healthcare products distributor Entero Healthcare Solutions made a tepid market debut on Friday, listed with a discount of more than 2 per cent against the issue price of Rs 1,258.
The stock started the trade at Rs 1,228.70, with a discount of 2.33 per cent over the issue price of Rs 1,258 on the NSE.
Similarly, the stock opened at Rs 1,245, lower 1.03 per cent against the issue price on the BSE.
It further declined 4.61 per cent to Rs 1,200 apiece.
The company commanded a market valuation of Rs 5,225.99 crore in the morning trade on the BSE.
In broader equity markets, the 30-share BSE Sensex benchmark jumped 341.85 points or 0.47 per cent to 72,392.23 points, while NSE Nifty advanced 0.58 per cent to 22,037.90 points.
The Rs 1,600 crore IPO of Entero Healthcare Solutions was subscribed 1.53 times on the final day of subscription on Tuesday.
Price range for the offer was Rs 1,195-1,258 per share.
Entero is a distributor of healthcare products across India by using its tech platform it distributes the product to pharmacies, hospitals, and clinics.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
© 2024 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback