Medi Assist Healthcare IPO: 10 key things to know from RHP
₹397-418 per share for the issue. GMP: Shares of Medi Assist Healthcare have been available for trade in the grey market since the weekend. The company's shares in the grey market continued trading at a premium of ₹38, indicating a 9 percent premium versus the IPO price at listing.
It has increased from ₹33 in the previous session. However, one must note that grey market premium is only an indicator of how the company's shares are performing in the unlisted market and can change quickly. By 1:00 PM on Day 2 of bidding, the public issue got subscribed 0.84 times.
The issue received bids for 1.64 crore shares as against 1.96 crore on offer. Retail investors' portion was subscribed the most and was the only fully subscribed category with 1.35 times bids. Meanwhile, the NII (non-institutional investor) quota was subscribed 0.78 times, however, the QIB (qualified institutional buyers) part had not received any bids.
Medi Assist Healthcare Services Limited offers insurance companies third-party administration services through its wholly owned subsidiaries, Medvantage TPA, Raksha TPA, and Medi Assist TPA. An organisation that handles health insurance claims on behalf of insurance companies and offers services like network management, policy administration, and customer service is known as a third-party administrator. As of September 30, 2023, the company has established a pan-India healthcare provider network that includes 18,754 hospitals spread across 1,069 cities and towns, 31 states (including union territories), and 141 countries worldwide.
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