Mumbai: Succumbing to the volatile equity market Wockhardt Hospitals has revised the Price Band of its IPO to Rs 225 to Rs 260 per equity share.

The price band for Wockhardt's issue for 25 million equity shares of Rs 10 each was earlier fixed between Rs 280 and Rs 310 per equity share.

The issue opened today and would close on February five. The Issue comprised a net issue to the public of 24,587,097 equity shares of Rs 10 each (the net issue) and a reservation of up to 500,000 equity shares for subscription by eligible employees.

The Issue would constitute 24.06 per cent of the post-issue paid up equity share capital of the Company. The proposed IPO of Wockhardt Hospitals has been assigned an IPO grade of four out of five by rating agency, Fitch Ratings India indicating above average fundamentals.

The equity shares are proposed to be listed on Bombay Stock Exchange ("BSE") and The National Stock Exchange of India (NSE).

Source : UNI