IPO
Diagnostics co. Star Imaging’s Rs.49-Cr SME IPO subscribed 2.57 times
The Initial Public Offering of Delhi-based Star Imaging & Path Lab was subscribed 2.57 times. The BSE SME IPO comprises fresh issue of 34,40,000 equity shares, aggregating to INR 48.85 crore and an offer-for-sale (OFS) which includes 9,72,000 shares of INR 10. The price band was set at the range of INR 135 to INR 142 per share.Founded in 1978, Star Imaging and Path Lab Limited is a healthcare organization that delivers diagnostic services including imaging services such as X-rays, ultrasounds, CT scans, MRIs, and laboratory tests, including blood tests, urine analyses, and other specialised diagnostics.Share India Capital Services served as the book running lead manager to the issue which received bids for 79,98,000 shares against 31,08,000 shares on offer. The retail portion was subscribed 2.57 times, and non-institutional investors portion was booked 1.42 times. The qualified institutional buyers portion was booked 6.14 times.The primary proceeds from the issue will be used to satisfy working capital needs, to repay or prepay debts, to finance capital expenditures, and for general corporate purposes.
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