Shares of diagnostics chain Metropolis Healthcare started off trade on a good note and also on expected lines, at Rs 960 on the Bombay Stock Exchange.
The stock opened with a 9 percent premium over its issue price of Rs 880 while on the National Stock Exchange it opened at Rs 958.
At 10:01 hours IST, it was trading 8 percent higher at Rs 950.30 on the BSE while on the NSE, it was at Rs 950.60.
Experts spoke to Moneycontrol had said the listing price could be higher around 5-10 percent over its issue price.
The country’s third largest listed diagnostics chain had raised Rs 1,204 crore through public issue of 1,36,85,095 equity shares.
It was an offer for sale by promoter Dr Sushil Kanubhai Shah and investor CA Lotus Investments.
The public offer was opened for subscription during April 3-5 and was subscribed 5.84 times, driven by a strong subscription from qualified institutional investors.