Shares of Vijaya Diagnostic Centre made a tepid debut in the stock exchanges today listing at around 2 per cent higher than their issue price.
The scrip got listed at Rs 542.30 apiece on the BSE, thereby registering a gain of 2.13 per cent from its offer price of Rs 531, while on the National Stock Exchange (NSE), it opened at Rs 540.00, up 1.70 per cent from the issue price.
However, after the sluggish start, the stock gained momentum and touched an intraday high of Rs 589.40 on NSE and Rs 590.00 on the BSE so far during the first 90 minutes of trade.
At 11:30 am, the scrip was trading at Rs 582.05 on the BSE, up 9.61 per cent from the issue price while on NSE it was at Rs 583.05.
Over 7.93 lakh shares of Vijaya Diagnostic Centre were traded on the BSE during the first 90 minutes of trade, while over 1.37 crore shares exchanged hands on the NSE, data from the respective stock exchanges showed.
The Rs 1,895 crore initial public offering (IPO) of Vijaya Diagnostic Centre was subscribed 4.54 times during its offer period from September 1-3.
Vijaya Diagnostic Centre provides pathology and radiology testing services to customers through an extensive network, which comprises of 80 diagnostic centres and 11 reference laboratories across 13 cities and towns in the states of Telangana and Andhra Pradesh, National Capital Region and Kolkata.