Medi Assist Healthcare IPO Opens Monday, January 15. Check Price, Subscription Status & More.
Medi Assist Healthcare IPO: The initial public offering of Medi Assist Healthcare Services Ltd has been opened for public subscription on Monday, January 15. The Rs 1,171.58-crore IPO will remain open till January 17. The IPO has received 0.22 times subscription, garnering bids for 43,25,510 shares as against 1,96,19,719 shares on offer.
Medi Assist Healthcare Services offers third-party administration services to insurance firms.
Medi Assist IPO
The Rs 1,172-crore IPO opened for subscription Monday, January 15 and close on Wednesday, January 17. Through the issue, which is fully an Offer For Sale (OFS), promoters and existing investors will sell 2.8 crore equity shares. The price band has been fixed at Rs 397-418 per share.
Medi Assist Healthcare IPO Details
Medi Assist covers over 18,000 hospitals across 1,069 cities and 31 states and has 35 insurers as partners. The healthcare company’s primary clients include insurers and most of its business comes from group covers/ corporate and enjoys a 30 per cent market share in this.
Under the offer, up to 2,539,092 shares will be offloaded by company chairman Vikram Jit Singh Chhatwal, 12,468,592 by Medimatter Health Management, 6,606,084 shares by Bessemer, 6,275,706 shares by Investcorp, 26,382 shares by Vivek Pandit, 22,613 shares by Rahul M Khanna, and 17,337 shares by Shankar Rao Palepu along with Palepu Neena Rao among others.
At the upper end of the price band, the company is valued at Rs 2,990 crore, CEO Satish Gidugu told PTI.
Medi Assist Healthcare IPO GMP
According to market observers, unlisted shares of Medi Assist Healthcare Services Ltd continue to trade Rs 30 higher in the grey market as compared with its issue price. The Rs 30 grey market premium or GMP means the grey market is expecting a 7.18 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
Medi Assist IPO Allotment Date
Medi Assist IPO is expected to be finalised on Thursday, January 18.
Medi Assist IPO Listing Date
Medi Assist Healthcare IPO will list on BSE, NSE with tentative listing date fixed as Monday, January 22, 2024.
- Disclaimer: The above article is meant for informational purposes only, any investment stock market & mutual fund please advice financial expert.
