The IPO of Lotus Eye Care Hospitals on Friday has received bids for over 1.18 crore shares against one crore shares on offer.
The non institutional potion was subscribed 2.63 times along with the Qualified Institutional Buyers portion was subscribed 0.63 times while the Retail investors portion was fully subscribed.
The price band for the issue had been revised to Rs36-Rs38 from the earlier band of Rs38-42.
The company plans to utilize the proceeds for opening of new health care centers. It would partly finance its Rs 55-crore expansion through the proceeds of the IPO. The company would set up two primary eye care units in Bangalore and another in Chennai to focus on simple eye problems and optical sales. It also plans to open secondary eye care centre.
The non institutional potion was subscribed 2.63 times along with the Qualified Institutional Buyers portion was subscribed 0.63 times while the Retail investors portion was fully subscribed.
The price band for the issue had been revised to Rs36-Rs38 from the earlier band of Rs38-42.
The company plans to utilize the proceeds for opening of new health care centers. It would partly finance its Rs 55-crore expansion through the proceeds of the IPO. The company would set up two primary eye care units in Bangalore and another in Chennai to focus on simple eye problems and optical sales. It also plans to open secondary eye care centre.
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