Global Health, operating hospitals under the Medanta brand, entered a strong debut on the bourse’s shares listed at Rs 401 on the National Stock Exchange (NSE), a premium of 19% amid an issue price of Rs 336 per share. The stock kicked off trade at Rs 398.15 on the BSE.

At 10:13 in the morning, Global Health traded at Rs 401.65, a 20% premium to its issue price on the NSE and BSE exchanges. Till now, the stock hit a low of Rs 393. The counter witnessed massive volumes, with 26 million shares changing hands on the NSE and BSE.

The Rs 2,206 crore IPO of Global Health sailed through on robust demand from Qualified Institutional Buyers (QIBs) and High Networth Investors (HNIs). The retail bidder’s quota was subscribed 0.88 times only, whereas the portion for Non-Institutional Investors (NII) was subscribed 4.02 times and of QIBs by 28.64 times.

Medanta renders healthcare services in over 30 medical specialities, engaging over 1,300 doctors controlled by experienced department heads and covering an area of 4.7 million sq ft; Medanta’s operational hospitals already have 2,467 installed beds.

Global Health holds good operating metrics and a noteworthy financial profile with topline and margin increasing for years. If compared to its listed groups, Medanta is fairly valued, said Anand Rathi Share and Stock Brokers in an IPO note.