The initial public offering of Naryana Hrudayalaya promoted by cardiac surgeon Devi Prasad Shetty attracted bids for 8.63 times the shares on sale. This is little lower than the over subscription levels achieved in recent healthcare Initial Public Offers (IPOs) but most importantly sustains the bullish trend observed for the healthcare sector. Drug maker Alkem Laboratories and health care firms Dr Lal Pathlabs (both listed earlier in December) and Narayana Hrudayalaya collectively aim to raise over Rs.2,500 crore. The buying led by institutional investors shows the faith in health care companies that have made a strong consumer connect. Given that there aren’t many health care companies listed on stock markets in India, there is room for more genuine operators to try their luck at the bourses. You need to be yourself healthy to nurse others to good health!
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