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The Medi Assist IPO is open for subscription until January 17, with an offer for sale (OFS) of 2.8 crore shares. Check the latest subscription details and grey market premium.
Medi Assist Healthcare's IPO was subscribed 36% on the first day, with retail investors leading at 62% and non-institutional investors at 22%. The QIB portion had no bids. The issue price is Rs 397-418, and bidding is open until January 17. The company will not receive funds from the IPO as it is entirely an OFS. Axis Capital, IIFL Securities, Nuvama Wealth Management, and SBI Capital Markets are the lead managers.
Medi Assist Healthcare IPO: The IPO of Medi Assist Healthcare, a third-party administrator providing services to insurance companies, opens for subscription. The company has raised Rs 351 crore from anchor investors, including Nomura, Goldman Sachs, and HSBC. The IPO is an OFS and the company will not receive any funds. Analysts recommend subscribing to the issue due to the company's market-leading position and growth potential. The IPO price band is set at Rs 397-418 per share, with 50% reserved for QIBs, 35% for retail investors, and 15% for non-institutional investors.
This marks Quadria’s second exit this year, after announcing the sale of its stake in FV Hospital in July.
They included the Government of Singapore, ADIA, Government Pension Fund Global, Polar Capital Funds, HSBC MF, WF Asian Reconnaissance Fund, Amundi, Prudential Assurance Co and Pinebridge Global and domestic mutual funds.