The initial public offering (IPO) of Medi Assist Healthcare Services, which closed on Wednesday, received 16.25 times subscription on the last day of bidding. The Rs 1,171.57 crore-IPO received bids for 31,87,78,530 shares, against 1,96,19,719 shares on offer. The share allotment will take place today, Thursday, and the investors will start receiving bank debit messages in the evening.
The category for Qualified Institutional Buyers (QIBs) got subscribed 40.14 times, while the portion for non-institutional investors fetched 14.85-times subscription. The quota for Retail Individual Investors (RIIs) got subscribed 3.19 times.
The initial public offer was entirely an Offer-for-Sale (OFS) of up to 2,80,28,168 equity shares. It had a price range of Rs 397-418 a share.
The IPO listing will take place on January 22 on both BSE and NSE.
Medi Assist IPO: Step-By-Step Guide To Check Allotment Status
Here’s how you can check Medi Assist IPO allotment status via BSE website:
1) Go to the official BSE website via the URL —https://www.bseindia.com/investors/appli_check.aspx.
2) Under ‘Issue Type’, select ‘Equity’.
3) Under ‘Issue Name’, select ‘Medi Assist Healthcare Services’ in the dropbox.
4) Enter your application number, or the Permanent Account Number (PAN).
5) Then, click on the ‘I am not a robot’ to verify yourself and hit ‘Search’ option.
Your share application status will appear on your screen.
You can also visit direct Link Intime portal — linkintime.co.in/mipo/ipoallotment.html and check Medi Assist IPO allotment status.
Medi Assist IPO GMP Today
According to market observers, unlisted shares of Medi Assist Healthcare Services are trading Rs 29 higher in the grey market as compared with its issue price. The Rs 29 grey market premium or GMP means the grey market is expecting a 6.94 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Medi Assist Details
Medi Assist Healthcare Services, the Bessemer Ventures and Investcorp-backed third-party insurance administrator, on Friday raised Rs 351.5 crore from anchor investors. The selling promoters include company chairman Vikram Jit Singh Chhatwal, Medimatter Health Management, Bessemer Health Capital, and Investcorp Private Equity Fund.
Medi Assist covers over 18,000 hospitals across 1,069 cities and 31 states and has 35 insurers as partners. Nuvama Wealth Management, Axis Capital Limited, IIFL Securities Limited, and SBI Capital Markets were the managers to the offer.
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