Global Health IPO (Medanta) lists at premium of 19.35% and holds up

Global Health IPO (Medanta) had a robust listing on 16th November 2022, listing at a premium of 19.35%, and closing the day well above the listing price. While the stock did show some bouts of volatility during the day, it closed more than 24% above the issue price on the first day of trading on the NSE. It also closed well below the listing price. With subscription of 9.58X overall and QIB subscription at 28.64X, the listing was expected to be robust, at the very least. Here is the Global Health Ltd (Medanta) listing story on 16th November 2022.

The Global Health IPO price was fixed at the upper end of the band at Rs. 336 which is understandable considering the rather attractive 9.58X overall subscription and the rather attractive QIB subscription for the IPO at 28.64 times. The price band for the IPO was Rs.319 to Rs.336. On 16th November 2022, the stock of Global Health Ltd (Medanta) listed on the NSE at a price of Rs.401, a premium of 19.35% over the issue price of Rs.336. On the BSE also, the stock listed at Rs.398.15 a premium of 18.50% above the issue price.

On the NSE, Global Health Ltd (Medanta) closed on 16th November 2022 at a price of Rs.417.30. That is a first day closing premium of 24.20% on the issue price of Rs336 and a premium of 4.06% on the listing price of Rs 401. On the BSE, the stock closed at Rs.415.65. That represents a first day closing premium of 23.71% over the issue price and a premium of 4.40% over the listing price on the stock exchange. On both the exchanges, the stock not only listed above the IPO issue price but closed Day-1 sharply below the listing price. Clearly, the strong QIB subscription and the strong anchor book placement helped the stock on the first day of listing as there was a rush to buy more of the stock post the listing.

On Day-1 of listing, Global Health Ltd (Medanta) touched a high of Rs.424.65 on the NSE and a low of Rs.390.55. The premium sustained through most part of the day. In fact, if you look at the range of prices, the stock never fell below the issue price through the day and it closed very near to the higher price of the day. Even the fall below the listing price was only brief. On Day-1 of listing, the Global Health Ltd (Medanta) stock traded a total of 493.23 lakh shares on NSE amounting to value of Rs.2,007.09 crore on the first day. The order book during the day showed a lot of buying intent with the buy orders far exceeding the sell orders at any point of time through the day.

On the BSE on Day-1 of listing, Global Health Ltd (Medanta) touched a high of Rs.424.90 and a low price of Rs.391.05. The premium sustained through the day. In fact, like on the NSE, even on the BSE, if you look at the range of prices, the stock never went below the issue price through the day and it closed very near to the higher price of the day. Even the fall below the listing price was at best only brief. On Day-1 of listing, the Global Health Ltd (Medanta) stock traded a total of 22.55 lakh shares on the BSE amounting to value of Rs.92.17 crore on the first day. While the volumes on the BSE were not as much as on the NSE, the trend was once again the same. The order book through the day showed a lot of buying strength with the buy orders far exceeding the sell orders at any point of time. That made it a buy on dips stock through the day.

At the close of Day-1 of listing, Global Health Ltd (Medanta) had a market capitalization of Rs.11,147.10 crore with free-float market cap of Rs.2,229.42 crore.