Medi Assist Healthcare shares list at 11% premium over issue price
The issue comprised an offer for sale, which means that the proceeds will go to the selling shareholders, and not the company.
Medi Assist Healthcare shares entered the listed space on Tuesday. The stock debuted at Rs 465 apiece on BSE, a premium of 11.2 per cent over the upper end of the price range of the company's IPO. On NSE, the stock began its journey at Rs 460 apiece, a premium of 10.1 per cent.
The IPO of Medi Assist Healthcare, which operates as an intermediary between insurers and healthcare operators, concluded last week with an overall subscription of 16 times led by robust demand from institutional investors.
Zee Business Managing Editor Anil Singhvi said that only high-risk investors should subscribe to the IPO and that too for the long term. “Only high-risk investors with a long-term view should subscribe to the IPO. Also, the long-term view should be for three years. Alternatively, one can buy shares of Medi Assist IPO after listing," noted Singhvi.
The Rs 1,171.57 crore issue comprised an offer for sale, which means that the proceeds will go to the selling shareholders, and not the company.
Axis Bank, IIFL Securities, Nuvama Wealth Management and SBI Capital Markets were the book-running lead managers, whereas Link Intime India was the registrar for the issue.
Medi Assist is a third-party administrator that has been delivering capabilities to the insurance ecosystem across geographies and networks.
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10:13 AM IST