Medi Assist Healthcare GMP jumps post share allotment as investors await listing
Medi Assist Healthcare IPO has been finalised and investors are awaiting the listing, which will be on January 23. Post the IPO allotment, the company's shares saw a bump in GMP in the grey market to Rs 29.
Earlier, the Medi Assist Healthcare GMP was around Rs 27.
If the current trends are sustained, the stock is expected to debut with a premium of 7% over the IPO price. The company priced the offer in the range of Rs 397-418.
However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly.
Medi Assist Healthcare IPO subscription
The public offer of Medi Assist Healthcare was subscribed 16 times at close, led by strong demand from institutional investors, whose category was subscribed 40 times.
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Medi Assist will not receive any funds from the IPO since it is completely an OFS and the entire proceeds will go to the selling shareholders.
Analysts believe the IPO offered investors an opportunity to invest in a leading third party administrator (TPA) health-tech and insurance-tech company.
On valuation parse, at the upper band, the issue was asking for a market cap of Rs 2878 crore.
Medi Assist is a health and insurance tech company and manages health benefits for employers, individual members and public systems that primarily serve insurance companies.
