Medi Assist made a decent entry into the stock market on Tuesday, with its shares debuting at a 10 percent premium over the issue price, starting at Rs 460.
On the National Stock Exchange (NSE), the initial listing price was Rs 460 per share, representing a 10 percent increase from the issue price of Rs 418.
Meanwhile, on the Bombay Stock Exchange, the listing price stood at Rs 465 per share, marking an 11.24 percent rise from the issue price.
Analysts had earlier anticipated the Medi Assist share price to debut within the range of Rs 450 to Rs 470 per share.
During the third day of its initial public offering (IPO) subscription period, the interest was substantial, with the subscription status reaching 16.25 times.
Retail investors subscribed 3.19 times, non-institutional investors (NII) 14.85 times, and qualified institutional buyers (QIB) 40.14 times.
The IPO of Medi Assist Healthcare Services, valued at Rs 1,171.58 crore, included an offer-for-sale (OFS) by investors and promoters, aiming to sell 2.8 crore shares of the company.
The proceeds from the issue, after deducting IPO expenses, would go to the selling shareholders. The promoters include Dr. Vikram Jit Singh Chhatwal, Bessemer India Capital Holding II Ltd., and Medimatter Health Management Private Limited.
Before the IPO opening dates, Investor Investcorp Private Equity Fund I and promoter Bessemer India Capital Holdings II reduced their ownership of Medi Assist Healthcare Services, selling shares valued at Rs 536 crore on January 10.
