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IPO for Wockhardt Hospitals Ltd has been extended by two days till February 7 . The 25.1-million share issue has received no bids from institutional buyers, corporates or non-retail individual investors as on Monday, acc ording to the data on the NSE Web site. The retail portion was subscribed 0.06 times. The healthcare services company, which had earlier set a price band of Rs 280-310 for the issue, lowered it to Rs 225-260 a share, a day before the issue opened on January 31, citing market conditions.

Wockhardt Hospitals’ bids delayed by snag (The Hindu Business Line 1st Feb 2008)Wockhardt Hospitals’ IPO (Initial Public Offering) has become the first casualty of sorts in a volatile stock market. The hospital-major’s IPO that opened on Thursday did not register even a single bid on the first day, it appears, due to a technical glitch that followed its revised price band. On Wednesday evening, Wockhardt Hospitals had lowered its price band to Rs 225-260, from the earlier Rs 280-310. This late development needed to be incorporated into the “systemic configuration” at the stock exchanges and this is what led to the confusion on day one, a representative with lead-manager Kotak Mahindra Capital Company told Business Line. Bids made on Thursday were not reflected on the system because of the revision in the price band that required the system to be reconfigured. The bids would get reflected only after they are entered in the system, a process that was kept on hold on Thursday, he explaine...