Medi Assist Healthcare IPO “The initial public offering (IPO) of Medi Assist Healthcare has started today and will continue until January 17, 2024. This insurance-tech company acts as a third-party administration (TPA) services provider for insurance companies, providing services like medical insurance and cashless hospitalization through a network of healthcare service providers. The price range for the IPO is set at ₹397 to ₹418 per equity share. The company plans to list on both the BSE and NSE stock exchanges.”
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Medi Assist Healthcare IPO Key Details :
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- Grey Market Premium (GMP): The shares of the health-tech company are currently trading at a premium of ₹32 in the grey market.
- IPO Date: The public issue started today and will continue to accept bids until January 17, 2024.
- IPO Price: The health-tech company has set a fixed price band for the book build issue at ₹397 to ₹418 per equity share.
- IPO Size: The book build issue aims to raise ₹1,171.58 crore through this public issue, with the entire offering being an offer for sale (OFS).
- Lot Size: Interested investors can apply for shares in lots, and one lot in the book build issue will consist of 35 million company shares.
Medi Assist Healthcare IPO Subscribe or Not ?
Medi Assist Healthcare IPO – According to Choice Broking, they recommend subscribing to the Medi Assist Healthcare Services IPO. The company is actively involved in the rapidly expanding health insurance sector and holds a significant market share in the Third-Party Administration (TPA) market. Their endorsement is based on the company’s strong financial performance, consistent cash flow generation, and regular dividend payouts.
In the financial snapshot for the six months ending September 2023, the company saw a significant 26% year-on-year increase in total income, reaching Rs 312 crore. However, there was a notable decline in net profit, showing a 39% decrease to Rs 22.5 crore during the same period. This indicates that while the company experienced growth in its overall income, there was a decrease in its net profit compared to the corresponding period in the previous year.
Medi Assist Healthcare IPO Finalisation Date ?
The allocation of shares is expected to be finalized around January 18, 2024, which falls on Thursday next week. On this day, investors will likely get to know how many shares they have been allocated from the Medi Assist Healthcare IPO. This step is crucial as it determines the actual distribution of shares among the investors who participated in the IPO bidding process. It marks an important milestone in the IPO journey, providing clarity to investors on their ownership in the company.
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Note: Please note that the opinions and suggestions mentioned earlier are personal views from individual analysts or brokerage firms, and they do not represent the stance of us. It is strongly recommended that investors consult with certified financial experts before finalizing any investment decisions. Always exercise due diligence and seek professional advice to make well-informed investment choices.