The NSE and BSE Exchange will host Medi Assist Healthcare Services Limited’s initial public offering. Medi Assist Healthcare Services IPO has a total issue size of Rs 1171.58 Cr and is only for sale. The dates of this IPO are set for January 15–17, 2024. Applying for this IPO requires you to buy at least one lot of 35 equity shares, or multiples of them, at the offer documents’ stated issue price of between Rs 397 and Rs 418 per equity share.
The book constructed IPO’s price band is established between ₹397 and ₹418 per share, while the stock of Medi Assist Healthcare Services IPO has a face value of ₹5 per share. The Medi Assist Healthcare Services initial public offering (IPO) will consist solely of an offer for sale (OFS), without any new issues included.
The issue of 2,80,28,168 shares, or around 280.28 lakh shares, is part of the offer for sale (OFS) phase of the Medi Assist Healthcare Services IPO. At the upper price range of ₹418 per share, this translates into an OFS issue size of ₹1,171.58 crore.
Here’s how you can check the allotment status of Medi Assist Healthcare IPO:
Step 1: Go to the BSE website.
Step 2: Choose ‘Equity’ and then the issue name from the selection menu.
Step 3: Enter your application number as well as your PAN card number and press ‘Search’.
You can also follow a similar procedure to check the allotment status on the Registrar’s website:
Step 1: Go to the Link Intime website.
Step 2: Select the IPO name by clicking on ‘Company Selection’.
Step 3: Input your PAN, application number, DP/Client ID, or account number/IFSC number and click on ‘Search’.
If the details are input correctly, the status will appear only after allotment. The equity shares are expected to be credited to successful investors’ demat accounts on January 19, 2024
Founded in June 2002, Medi Assist Healthcare Services Limited is a health-tech and insurance-tech business that specialises in supporting insurance companies by managing health benefits for retail members, employers, and public health initiatives.
Through a network of medical service providers, Medi Assist provides cashless hospitalisation and medical insurance. But the business also serves as a go-between for general and health insurance companies and their insured members, insurance companies and hospitals and other healthcare providers, and the government and those who benefit from public health programs. As of March 31, 2023, Medi Assist Healthcare had partnerships with 36 insurance firms both domestically and abroad.
Medi Assist Healthcare GMP
| Date | GMP | Price Range |
| 12 January 2024 | ₹64 | ₹397-₹418 |
| 11 January 2024 | ₹81 | ₹397-₹418 |
| 10 January 2024 | ₹81 | ₹397-₹418 |
According to the GMP trend, the grey market premium began trading at about ₹80 per share and quickly increased to ₹86 per share on the second day that GMP data was made available. There is a warning here, though. Since Medi Assist Healthcare Services Ltd.’s IPO price band was only revealed early on January 10, 2024, the GMP from the day before is primarily based on price estimations and should not be regarded as a reliable indicator of the listing price. On January 10, 2024, the GMP will be more dependable.
The GMP indicator suggests that on January 10, 2024, the listing price of Medi Assist Healthcare Services Ltd. would be around ₹504 per share, if the IPO’s top end of the pricing range is taken into account at ₹418. This is dynamic and always evolving. The stock subscription update will be one data point to monitor, since it will show the GMP’s trajectory.
At ₹86 per share, the listing premium of Medi Assist Healthcare Services Ltd above the IPO issue price is a handsome 20.57%, based on the top end of the book constructed IPO price of ₹418. That requires that the stock of Medi Assist Healthcare Services Ltd. be listed at a price of roughly ₹504 per share. However, these are approximations, so there should be a margin of safety followed.
