Medi Assist Healthcare ends 11% higher on Day 1 of listing

Shares of Medi Assist Healthcare Services ended with a premium of 11 per cent on Tuesday at ₹464.25 on the BSE against the issue price of ₹418. During the day, the stock hit a high of ₹509.60 and a low of ₹446 after listing at ₹465.

On the NSE, after listing at ₹460, the stock closed at ₹461.95 apiece.

About 8.52 lakh shares were traded on the BSE and 1.61 crore shares on the NSE during the day.

The ₹1,171-crore IPO was subscribed to 16.25 times. The IPO was entirely an offer for sale.

Fundraise

As part of the IPO, the Bengaluru-based company secured ₹351.5 crore from anchor investors. Among the marquee investors included Nomura Trust, Goldman Sachs, Ashoka Whiteoak, Pinebridge Global Funds, Troo Capital, and HSBC. Domestic investors such as HDFC Mutual Fund, Kotak Mahindra Trustee, Aditya Birla Sun Life Trustee, SBI Life Insurance Company, Mirae Asset, Canara Robeco Mutual Fund, Tata Mutual Fund, Sundaram Mutual Fund, Bandhan Mutual Fund, Edelweiss Trusteeship, Bajaj Allianz Life Insurance Company, Max Life Insurance Company, and SBI General Insurance Company also participated in the anchor book.

The company is a third-party administration services provider to insurance companies and offers medical insurance and cashless hospitalisation through a network of healthcare service providers.