Last day to subscribe Medi Assist IPO; Get live details inside

17 Jan 2024 , 11:53 AM

The subscription period for the Medi Assist Healthcare Services IPO commenced on January 15 and concludes today, January 17. Priced in the range of Rs 397 to Rs 418 per equity share with a face value of Rs 5, the IPO witnessed a subscription of 1.20 times on day 2. Click here to subscribe the IPO.

On day 3, the subscription surged to 2.13 times, with bids for 4,18,68,400 equity shares out of the available 1,96,19,719 shares for subscription. The retail portion saw a subscription of 2.25 times, while High Net Worth Individuals (HNI) subscribed 3.51 times their allotted quota. Qualified Institutional Buyers (QIBs), on the other hand, bid only 0.90 times against their allotted quota.

The primary objective of the Medi Assist IPO is to conclude the Offer-for-Sale (OFS) and facilitate the listing of its equity shares on the stock exchanges. It’s essential to note that all proceeds from the offering will go to the selling shareholders, with the company itself not receiving any funds.

The basis of allotment for IPO shares is scheduled to be finalized by January 18, and successful investors can expect shares in their demat accounts by January 19. The stock is anticipated to be listed on bourses on January 22.

Medi Assist reported a robust performance for the fiscal year ending March 2023, achieving an 18.7% year-on-year growth in consolidated net profit, reaching Rs 75.31 crore. This growth was attributed to a strong performance in topline and operating margins.