Manipal Health Jumps 10.5% in Market Debut, Valued at $9 Billion
By ETF Desk
Manipal Health, a leading healthcare services provider in India, made a stunning market debut on Thursday, with its shares jumping 10.5% in the first day of trading. The company's shares were listed on the Indian stock exchange after a successful initial public offering (IPO), which was oversubscribed by 1.5 times.
The company's valuation has soared to $9 billion, making it one of the largest healthcare companies in India. The IPO, which was priced at Rs 829 per share, saw strong demand from institutional and retail investors. The company plans to use the funds raised from the IPO to expand its healthcare services and invest in new technologies.
The listing of Manipal Health's shares is expected to boost investor confidence in the Indian healthcare sector, which has been growing rapidly in recent years. The company's strong market debut is also expected to benefit other healthcare companies in India, which are planning to list their shares on the stock exchange in the near future.
Source: Google News – Manipal.