Shares of Aster DM Healthcare Limited listed on the bourses and had a poor showing. They were down about 5% on listing day. The company had tapped the capital markets with its simultaneous offer of a fresh issue to raise Rs 725 crs and an offer for sale of 1,34,28,251 equity shares in a price band of Rs 180-190. The issue was open from Monday the 12th of February and had closed on Thursday the 15th of February. It had earlier allotted 1,54,75,843 shares to 7 anchor investors comprising of 8 entities. The highest allocation was done to SBI Mutual Fund and Sundaram Mutual Fund of 34,25,058 shares a piece which is 22.13% of the anchor book.
The issue was subscribed 1.31 times. The QIB portion was subscribed 2.1 times. The leveraged HNI portion was undersubscribed at 0.55 times.
The discovered price on the BSE was Rs 182.10 and Rs 183 on the NSE. The high of the day was Rs 187.80 on the BSE and Rs 188 on the NSE, falling short of the issue price of Rs 190. The low of the day was Rs 176.45 on the BSE and Rs 176.30 respectively. The close on BSE was Rs 179.85, a loss of Rs 10.15 or 5.34% while it was Rs 181.55, a loss of Rs 8.45 or 4.45% on the NSE.
| Exchange | Open | High | Low | Close | Net Change | % Gain/ Loss | Wt.Avg | Volume | Delivery | Del %age |
| BSE | 182.10 | 187.80 | 176.45 | 179.85 | -10.15 | -5.34 | 181.84 | 1826090 | 492353 | 26.96 |
| NSE | 183.00 | 188.00 | 176.30 | 181.55 | -8.45 | -4.45 | 182.42 | 10499965 | 3099319 | 29.52 |
| Total | 12326055 | 3591672 | 29.14 |
The combined traded volume was 123.26 lakh shares which was 23.89% of the IPO size of 515.86 lakh shares. Delivery volume was 35.91 lac shares which was 29.14% of the traded volume and 6.96% of the IPO size. If one were to consider the non-anchor portion, the delivery percentage was 9.41%. Weighted average for the day was Rs 181.84 on the BSE and Rs 182.42 on the NSE. The close was below the weighted average indicating that the share was under pressure at the end of the day.
The company has had a poor listing. There could be a combination of factors leading to that which include being richly valued and lack of interest in the healthcare sector which has yet to give returns to the shareholder. Recent hospital company from Ahmedabad, Shalby which is trading below its issue price of Rs 248 at Rs 224.30.
All in all, a poor show and while the prospects for the company look good in the medium to long term, there is likely to be some more pressure in the short term.
