Medi Assist IPO allotment likely today; Here's how to check

18 Jan 2024 , 01:50 PM

Medi Assist Healthcare Services, which witnessed a robust response from investors on the final day of its initial public offering (IPO), is slated to conclude the share allotment process on Thursday, January 18.

Following the successful closure of its Rs 1,171.57 crore IPO on January 17, stakeholders will be apprised of the share allotment details. The relevant information will be made available on the official portals of the registrar, Link Intime India Pvt Ltd, and the BSE website.

The IPO of Medi Assist Healthcare Services garnered significant interest, with a subscription rate of 16.25 times on the closing day, January 17. Investors bid for 31.87 crore shares against the issue size of 1.96 crore shares.

In terms of category-wise subscription, the Qualified Institutional Buyers’ segment saw an impressive 40.14 times subscription, while the non-institutional investors’ quota received a subscription rate of 14.85 times. The retail investors’ segment witnessed a subscription rate of 3.19 times.

The IPO, structured as an Offer-for-Sale (OFS) of up to 2,80,28,168 equity shares, featured a price range of Rs 397-418 per share.

Medi Assist boasts partnerships with 35 insurers and provides coverage across an extensive network of more than 18,000 hospitals spanning 1,069 cities.

The managers to the offer included Nuvama Wealth Management, Axis Capital Limited, IIFL Capital Services Limited, and SBI Capital Markets.