Medi Assist Healthcare Services witnesses a promising stock market debut, listing with a 12% premium and providing investors with immediate returns.
In a noteworthy development, Medi Assist Healthcare Services marked its entry into the stock market with a listing that delivered cheer to investors. The shares of the third-party healthcare services provider opened at ₹465 on the Bombay Stock Exchange (BSE), reflecting an 11.24% premium over the issue price of ₹418. This translated to a listing gain of ₹47 per share for investors on the BSE.
Simultaneously, on the National Stock Exchange (NSE), Medi Assist shares commenced trading at ₹460.
Prior to the listing, expectations in the grey market suggested a premium of around 8%, indicating a potential listing gain of approximately 10%. The IPO had garnered significant interest from investors during its subscription period.
The IPO, which opened on January 15 and closed on January 17, 2024, was initially slated for listing on January 22. However, the listing was rescheduled due to the Ram Mandir Pran Pratishtha ceremony.
Following the listing, the stock surged to a high of ₹509.60, providing investors with a potential profit of approximately 22% per share, or ₹91.6 per share over the issue price.
The Medi Assist IPO consisted entirely of an Offer For Sale (OFS), with promoters and investors divesting 2.8 crore shares.
