New Delhi, Feb 15 (PTI) The initial public offer of Aster DM Health was subscribed 1.33 times on the last day of its public issue today, according to merchant bankers.

The IPO, which aims to raise Rs 980 crore, received bids for more than 4.88 crore shares against the total issue size of over 3.74 crore scrips, translating into a subscription of 1.33 times.

The portion reserved for institutional investors was subscribed 2.14 times, non-institutional category 58 per cent and retail investors witnessed a subscription of 1.19 times, the bankers said.

The company had raised Rs 294 crore from anchor investors on Friday.

The initial public offer (IPO) comprises fresh issue of equity shares worth up to Rs 725 crore and an offer for sale of up to 1,34,28,251 scrips by the company’s promoter Union Investments.

The price band for the offer, which was opened during February 12-15, was kept at Rs 180-190 per share.

Proceeds of the issue would be used towards repayment of debt, purchase of medical equipment, and for other general corporate purposes.

Kotak Mahindra Capital Company, Axis Capital and Goldman Sachs (India) Securities, ICICI Securities, JM Financial and Yes Securities will manage the company’s public issue.

Aster operates in India, the Philippines, Jordan and all the GCC (Gulf Cooperation Council) states comprising the United Arab Emirates, Oman, Saudi Arabia, Qatar, Kuwait and Bahrain.

This is published unedited from the PTI feed.