Noida-based Goodwill Hospital and Research Centre has pulled out its Rs 61 crore public

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issue citing poor investor response, dealing a major blow to the primary market at the start of 2012 and a grim reminder of more difficult times ahead for companies looking to raise funds this year.

On Monday, Financial Chronicle had reported that the company may look to withdraw its public issue after managing just 0.01 times subscription in the first six trading sessions.

The issue was open for subscription from December 30 till January 9, but the company announced withdrawal on the last day as it had received bids for a meagre 22,015 shares translating into just 0.01 times compared with total issue size of 35.42 lakh shares on offer.

According to data available on the NSE website, the qualified institutional buyers’ category did not receive a single bid against a total of 17,71,428 shares on offer.

As against 5,31,429 shares reserved for non institutional investors’ category, the company received bids for just 9,730 shares. In the retail investors segment, bids for 12,285 shares were received compared with 12,40,000 shares reserved on offer.

The company had fixed price band in the range of Rs 175 to Rs 185 per share, which also includes a free warrant per equity share to be offered to interested bidders along with shares.