Medi Assist Healthcare IPO: Check subscription on Day 2, GMP and other details
Medi Assist Healthcare is yet to sail through, but the issue gained some momentum on Tuesday, the second day of bidding with an overall subscription of 81% so far. The issue closes on Wednesday.
The retail portion of the issue was fully subscribed, followed closely by the NII category at 70%.
There were no bids in the QIB portion of the IPO.
The issue, which is an OFS of 2.8 crore shares, is priced at Rs 397-418 apiece. About 50% of the offer is reserved for qualified institutional buyers (QIBs), 35% for retail investors and 15% for non-institutional investors.
Medi Assist Healthcare GMP
In the unlisted market, the company's shares are trading with a premium of Rs 33.
Also Read: Epack Durable IPO price band set at Rs 218-230/share.
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Medi Assist Healthcare IPO review
Analysts believe Medi Assist Healthcare IPO gives investors an opportunity to invest in a leading third party administrator (TPA) health-tech and insurance-tech company.
On valuation parsem at the upper band, the issue is asking for a market cap of Rs 2878 crore.
«Given the low penetration of insurance in India and expected growth in the next 5 years, we feel Medi Assist is well positioned as a dominant TPA player to tap the upcoming growth. We recommend investors to Subscribe to the IPO with a long-term perspective only,» said Rajan Shinde, Research Analyst, Mehta Equities.
Also Read: Nova AgriTech IPO price band fixed at Rs 39-41 per share.
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Other details
Medi Assist Healthcare provides third party administration services to insurance companies through its wholly owned subsidiaries. A third party administrator is an organization that processes health insurance claims for insurance companies and provides services such as
