Medanta operator Global Health shares jump 19% in debut trade

Shares of Global Health, which operates hospitals under the Medanta brand, on Wednesday listed with a premium of over 19 per cent against the issue price of Rs 336.

The company's stock made its market debut at Rs 398.15, rallying 18.49 per cent on the BSE. Later, it zoomed 21.72 per cent to Rs 409.

At the NSE, it listed at Rs 401, a jump of 19.34 per cent.

The company commanded a market valuation of Rs 10,770.30 crore on the BSE.

The initial public offering (IPO) of Global Health was subscribed 9.58 times on the final day of the offer, last Monday.

The offer had a price range of Rs 319-336 a share.

Founded by Naresh Trehan, a renowned cardiovascular and cardiothoracic surgeon, Global Health is a leading private multi-speciality tertiary care provider in the north and east regions of India.

Global Health, backed by private equity investors such as Carlyle Group and Temasek, operates a network of five hospitals under the 'Medanta' brand in Gurugram, Indore, Ranchi, Lucknow and Patna. In addition, one hospital is under construction in Noida.