Wednesday, May 9, 2007

Fortis dips 9 pc in debut trade on BSE

Ranbaxy promoter group company Fortis Healthcare on Wednesday dipped 9.35 per cent in its debut trade on the Bombay Stock Exchange and settled at Rs 100.The company's shares witnessed a high of Rs 109.10 and a low of Rs 97.90, while more than 1.37 crore shares exchanged hands on the BSE.

On the National Stock Exchange, Fortis Healthcare touched a high of Rs 110 and a low of Rs 98.05. Over 2.29 crore shares got traded during the day.The scrip was listed at Rs 105, nearly 3 per cent below its issue price of Rs 108, on BSE. The shares were listed with marginal premium at Rs 110 over its issue price on NSE, but later pared some gains and ended the day at Rs 100.

The firm entered the bourses with 22.66 crore equity shares of Rs 10 each at an issue price of Rs 108 each.Its IPO Healthcare was subscribed 2.78 times with bids for over 12.74 crore shares against about 4.57 crore shares offered in the public issue

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