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Indian healthcare companies draw investors' strong demand

NEW DELHI (NewsRise) -- A spate of initial public offerings by Indian healthcare companies has drawn strong demand as investors bet rising incomes and government efforts to ramp up urbanization in the world's second most populous nation will boost demand for medical facilities.

     Diagnostics and medical test company Dr. Lal PathLabs received bids for 33 times the shares on offer in its IPO, while drugmaker Alkem Laboratories' offering was oversubscribed by more than 44 times, reflecting robust investor appetite for their offerings even as secondary markets remain subdued. Bengaluru-based Narayana Hrudayalaya (NHL), which provides affordable healthcare, is also gearing up for its IPO next week. Founded by cardiac surgeon Devi Shetty, the company operates 5,442 beds across 31 hospitals and 24 primary care centres in 31 cities.

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