If the current trends are sustained, the stock is expected to debut with a premium of 7% over the IPO price. The company priced the offer 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.
Medi Assist Healthcare IPO subscription
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.
Also Read: Axis Bank, Bajaj Auto Q3 earnings among 10 factors to drive D-Street in holiday-shortened week
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.
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 2878 crore.
Medi Assist is a health and insurance tech company and 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, 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% year-on-year to Rs 312 crore, while net profit fell 39% to Rs 22.5 crore.
(You can now subscribe to our ETMarkets WhatsApp channel)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
