Indian hospital operator Shalby's $79 million IPO subscribed nearly three times

Last Updated: Thu, Dec 07, 2017 19:23 hrs

MUMBAI (Reuters) - Indian hospital operator Shalby Ltd's initial public offering to raise 5.1 billion rupees ($79 million) was subscribed 2.8 times on the last day of the sale on Thursday.

Institutional investors bid for 4.5 times the number of shares reserved for them, while the retail portion was subscribed 2.93 times, data as of 6:00 PM (1230 GMT) showed.

The offer comprised a primary share sale of 4.8 billion rupees, while one of the existing shareholders was selling 1 million shares in the IPO in a price range of 245 rupees to 248 rupees.

Edelweiss, IDFC Bank and IIFL Holdings are managing the IPO.

India has seen a record year for IPOs with more than $11 billion of initial share sales in 2017.

($1 = 64.5700 Indian rupees)

(Reporting by Devidutta Tripathy; Editing by Subhranshu Sahu)

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