Medi Assist Healthcare stock lists at 11% premium to IPO price |
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Medi Assist Healthcare stock lists at 11% premium to IPO priceMedi Assist IPO: The stock opened at Rs 460 on NSE and Rs 465 on BSE against the issue price of Rs 418
Moneycontrol News
January 23, 2024 / 10:01 AM IST ![]() Medi Assist Healthcare stock made a decent debut, listing at an 11.24 percent premium over the IPO price on January 23. The stock opened at Rs聽460 on NSE and Rs 465 on BSE against the issue price of Rs 418. Ahead of the listing, the stock聽was trading at an 8 percent premium to the stock price in the grey market, an unofficial ecosystem where shares start trading before the allotment in the IPO and continue till the listing day. Most investors track the grey market premium (GMP) to get an idea of the listing price. Story continues below AdvertisementRemove AdAlso Read:聽Primary Market Action | 7 IPOs to hit Dalal Street, 2 listings scheduled this week Medi Assist Healthcare Services' IPO, purely an offer聽for sale,聽聽was subscribed 16.25 times, receiving bids for 31.87 crore shares against the issue size of 1.96 crore. The retail portion was booked 3.19 times, qualified institutional buyers (QIB) picked 14.85 times and high net worth individuals (HNI) bought 40.14 times of their allotted quota. The IPO opened on January 15 and closed on January 17. The company raised Rs 1,171.58 crore via an offer-for-sale of 2.8 crore shares, including the anchor portion. The price band for the issue was fixed at Rs 397-418 a share. Related stories![]() ![]() ![]() Also Read:聽Ram Mandir holiday defers Nova Agritech, Epack Durable IPOs, Medi Assist, Maxposure listings The book-running lead managers of the IPO were Axis Bank, IIFL Securities, Nuvama Wealth Management and SBI Capital Markets, while Link Intime India was the registrar. Medi Assist reported an 18.7 percent on-year growth in consolidated net profit at Rs 75.31 crore on strong topline and operating margin performance for the year ended March 2023. Revenue grew 28.2 percent to Rs 504.9 crore, while EBITDA (earnings before interest, tax, depreciation, and amortisation) increased by 30.8 percent to Rs 119.35 crore with a margin expansion of 40 bps at 23.6 percent for the year. Story continues below AdvertisementRemove AdStory continues below AdvertisementRemove AdAlso Read:聽Nova Agritech IPO: 10 things to know before subscribing to Rs 143.8 crore issue Medi Assist Healthcare provides third-party administration services to insurance companies through its wholly-owned subsidiaries, Medi Assist TPA, Medvantage TPA, and Raksha TPA. A third-party administrator processes health claims for insurance companies and provides services such as policy administration, customer service, and network management, among others. TPAs are a link between the insurer, healthcare service provider, and the policyholder. Moneycontrol News Tags: #IPO - News #Medi Assist first published: Jan 23, 2024 09:58 amDiscover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated! |
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