Jakarta. Eye hospital Nitrasanata Dharma (IDX: JECX) made a strong debut on the Indonesia Stock Exchange (IDX) on Tuesday, with its shares jumping 24.8% to Rp 1,560 from the initial public offering (IPO) price of Rp 1,250, immediately hitting the upper auto-rejection limit (ARA) as trading opened.

JECX became the third company to list on the IDX in 2026, raising Rp 609.98 billion ($33.9 million) through its IPO to strengthen its capital base and finance business expansion.

"We expect this IPO to strengthen the company's capital structure and support JEC's growth, while continuing to uphold our Care with Experience philosophy, delivering patient-centered services backed by JEC's expertise and long-standing experience in eye care," President Director Johan A. Hutauruk said at the IDX building in Jakarta on Tuesday.

As of Tuesday morning, JECX recorded trading volume of 1,640 lots worth Rp 260.99 million across 1,560 transactions.

The company offered 487.98 million shares, equivalent to 15% of its enlarged issued and paid-up capital. The offering consisted of 325.32 million newly issued shares, representing 10% of post-IPO capital, and 162.66 million divestment shares, or 5%, sold by shareholder Waldensius Girsang.

Of the total proceeds, approximately Rp 406.65 billion came from the issuance of new shares, while Rp 203.33 billion was generated from the divestment sale.

Based on the IPO price of Rp 1,250 per share, JECX debuted with a market capitalization of approximately Rp 4.07 trillion.

The company also reported strong investor demand during the offering period, with the retail pooling allotment oversubscribed by 62.5 times and attracting orders from 555,699 investors.