Catch all the Ayodhya Ram Mandir Inauguration Live Updates
View Details»If the current trends are sustained, the company's shares are expected to list at a premium of 8%. The issue was priced 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.
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.
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.
Also Read | Nova Agritech, Epack Durable IPOs deferred by a day; Medi Assist listing postponed
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 2,878 crore.
Medi Assist is a health and insurance tech company that manages health benefits for employers, individual members and public systems that primarily serve insurance companies. Founded in 2002, the company acts as an intermediary between insurers, and healthcare operators, providing health insurance and cash insurance across more than 14,000 hospitals in India.
The company offers services to 78% of the Nifty 50 companies and 35% of the BSE500 companies.
For the six months ended September 2023, the company's total income rose 26%
Read more on economictimes.indiatimes.com