Mumbai: Shares of Aster DM Healthcare Ltd made stock market debut on a tepid note on Monday. The stock was listed at Rs182.10, down from its issue price of Rs190 per share.

The stock touched a high and a low of Rs187.80 and Rs176.45, respectively. At 10.12am, it was trading at Rs182.55 on the BSE, down 4% from its issue price of Rs190 a share.

The Rs980 crore initial public offering (IPO) of the company saw an overall subscription of 1.33 times during the share sale starting 12 February. The issue was set at a price band of Rs180-190 per share.

Proceeds from the fresh issue will be utilized to repay debt, purchase medical equipment and meet general corporate expenses.

Aster DM Healthcare Ltd is a private healthcare service provider, which operates in GCC (Cooperation Council for the Arab States of the Gulf) states comprising United Arab Emirates, Oman, Saudi Arabia, Qatar, Kuwait and Bahrain, Jordan (which classifies as a GCC state as part of its GCC operations), India and the Philippines. Its GCC operations are headquartered in Dubai, United Arab Emirates, and its Indian operations are headquartered in Kochi, Kerala. It provides healthcare services to patients across economic segments through brands ‘Aster’, ‘Medcare’ and ‘Access’.

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