The Medi Assist Healthcare Services Ltd IPO is an initial public offer wherein the company aims to raise nearly ₹1,172 cr. Ahead of the listing date of the IPO, investors keep looking at the Grey Market Premium as it tells everything about the market mood for the performance of the stock after listing.
Alright let’s know in detail about Medi Assist IPO GMP in this article.
Keep reading, keep learning!
Medi Assist Healthcare Overview
Medi Assist Healthcare Services Ltd is a leading health-tech and insurance-tech company in India, but it is more popular for being a major health benefits administrator for the country.
The company was founded in 2000 and administers health benefits to employers, retail members and public health schemes. It acts as an intermediary between the insurance companies, healthcare providers and policyholders.
What is Medi Assist IPO GMP?
Grey Market Premium is the premium at which Medi Assist Healthcare Services Ltd shares are trading in the grey or unorganized market before the shares of the company are listed on the stock exchanges.
The Medi Assist Healthcare IPO GMP is the representation of investors’ mood and demand for shares of the company in the off-book market. Positive GMP means that most probably the IPO would come for listing at a premium on its issue price and negative GMP indicates that it would probably come for listing at a discount.
Current GMP Status
The GMP for the Medi Assist Healthcare IPO has come in at ₹34 as of January 23, 2024, which means that the share listing price will stand at around ₹452; this is a gain of approximately 8.13% over the upper end of the issue price band at ₹418.
IPO Price Band and Lot Size
The price band for Medi Assist Healthcare IPO was put at ₹397-₹418 per share. The minimum lot size in the IPO was 35 shares that mandated a minimum investment of around ₹ 14,595 at the upper price band.
Subscription Status
The IPO saw robust subscription by investors with overall subscriptions being reported at 16 times by the end of the offering period. High interest for the transaction has been seen through institutional investors with their category subscribed to 40 times, reflecting high confidence in the business model and prospects of Medi Assist.
Listing Details
Medi Assist Healthcare’s shares were listed on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on January 23, 2024.
Listing price is expected to carry a premium to the IPO price with respect to the current GMP.
Financial Performance
The company’s revenues for FY23 came at ₹518.95 crore, against ₹412.02 for FY22. While this brings revenue figures surging, that increase never translated into a stronger bottom line for the same period, meaning there are battles that have to be won after its public issue.
How does it Compare with Other Recent IPOs?
Now, to get a better understanding of this, let’s take a glance at some recent IPOs and their GMP for comparison. For instance, the DOMS Industries’ IPO that came in December 2023 was marked with great responses. Such performances in these IPOs would give an idea about investor sentiments across various sectors.
Upcoming Government IPOs
Many IPOs related to the Indian government are lined up in the pipeline based on the strategy of strategic divestment. With a stable return profile, most of these will attract heavy interest from investors. Investors should look out for announcements by the government regarding these IPOs.
Some of the Upcoming Government IPOs are:
- NTPC Green Energy Ltd
- Bharat Coking Coal Ltd
- Central Mine Planning and Design Institute
- Indian Infrastructure Finance Company Ltd
- NHPC Renewable Energy
Top 10 Upcoming IPOs in India
Besides upcoming government IPOs several companies in the private sector are gearing up for their IPO. In the following paragraph is a concise description of some of the top IPOs expected in 2024:
- Tata Technologies
- Ola Electric Mobility
- Fabindia Limited
- Premier Energies
- ECO Mobility
- Bajaj Housing Finance
- Baazar Style Retail
- Indegene Ltd
- Aadhar Housing Finance
- Snapdeal
The aforementioned companies are from various sectors, such as tech to e-commerce and healthcare and will provide varied investment opportunities among market players.
Conclusion
The Medi Assist Healthcare IPO is a good opportunity for investors seeking exposure to the Indian health-tech space. The GMP figures are strong, with subscription rates reasonably high, so on face value, investor confidence seems decent.
As investors ride this exciting period in the Indian equity market, it would be important to consider not only individual offerings like Medi Assist but also broader trends and upcoming opportunities within both government and private sector IPOs.