Medi Assist Health Shares Debut With Over 11 Percent Premium

Shares of Medi Assist Healthcare Services listed with a premium of more than 11 per cent on Tuesday against the issue price of Rs 418 per share. The stock listed at Rs 465, up 11.24 per cent from the issue price on the BSE. It further jumped 13.35 per cent to Rs 473.80. On the NSE, the scrip of the company started the trade at Rs 460, up 10.05 per cent. Further, it advanced 12.37 per cent to trade at Rs 470.65 per share.

In the morning session, the 30-share BSE Sensex was trading with a decline of 42.93 points or 0.06 per cent lower at 71,380.72, while NSE Nifty was trading at 21,555.50, down by 0.08 per cent. The initial public offer of Medi Assist Healthcare Services got subscribed 16.25 times on the last day of subscription on January 17. The Rs 1,171.57-crore initial public offer was entirely an Offer-for-Sale (OFS) of up to 2,80,28,168 equity shares.

It had a price range of Rs 397-418 a share. Medi Assist Healthcare Services, the Bessemer Ventures and Investcorp-backed third-party insurance administrator, on Friday raised Rs 351.5 crore from anchor investors. The selling promoters include company chairman Vikram Jit Singh Chhatwal, Medimatter Health Management, Bessemer Health Capital, and Investcorp Private Equity Fund. Medi Assist covers over 18,000 hospitals across 1,069 cities and 31 states and has 35 insurers as partners.

(PTI)