Medi Assist IPO GMP today: Shares of the health-tech company are available at a premium of ₹32 nin grey market today, say market observers
Medi Assist Healthcare IPO: Today marks the opening of the insurance-tech company’s mainboard initial public offering (IPO), which will run through January 17, 2024. Through a network of healthcare service providers, the company provides medical insurance and cashless hospitalization to insurance companies as a third-party administration (TPA) services provider. The Medi Assist IPO price range has been set by the insurance-tech company at ₹397 to ₹418 per equity share. It is suggested that the book build issue be listed on the BSE and NSE.
In the meantime, since the weekend, shares of Medi Assist Healthcare Limited have been traded on the black market. Observers of the stock market claim that shares of Medi Assist Healthcare are currently available in the grey market for ₹32 more than their market value.
Medi Assist IPO subscription status
The public issue was subscribed 0.22 times by 2:08 PM on the first day of bidding, while its retail portion was subscribed 0.41 times. The book build issue’s NII section was filled 0.09 times.
Important Medi Assist Healthcare IPO details
1] Medi Assist IPO GMP: Shares of the health-tech company are available at a premium of ₹32 in the grey market today.
2] Medi Assist IPO date: The public issue has opened today and it will remain open for bidding till 17th January 2024.
3] Medi Assist IPO price: The health-tech company has a fixed price band of the book build issue at ₹397 to ₹418 per equity share.
4] Medi Assist IPO size: The book build issue aims to generate ₹1,171.58 crore from this public issue, which is a 100 per cent offer for sale (OFS).
5] Medi Assist IPO lot size: A bidder will be able to apply in lots and one lot of the book build issue will comprise 35 mcompany shares.
Medi Assist Healthcare IPO details:
6] Medi Assist IPO allotment date: Finalisation of the share allocation is most likely on 18th January 2024 i.e. on Thursday next week.
7] Medi Assist IPO registrar: Link Intime India Private Limited has been appointed as the official registrar of this public issue.
8] Medi Assist IPO listing: The public issue is proposed for listing on BSE and NSE.
9] Medi Assist IPO listing date: The public issue may be listed on 22nd January 2024.
Medi Assist IPO: Should you subscribe?
10] Medi Assist IPO review: According to the Choice Broking report, which assigns a “subscribe” tag to the book build issue, “There are no comparable peers having a business model similar to MAHSL.” The aforementioned peers are only taken into account for benchmarking the requested valuation due to the nature of the operations. MAHSL is requesting a P/E multiple at a higher price band of 34.8x (to its TTM EPS of Rs. 12), which is less than the peer average of 42.6x. As a result, the issue is reasonably priced. MAHSL serves the rapidly expanding health insurance market. We thus give the issue a “SUBSCRIBE” rating in light of its dominant market share in TPAs, steady financial performance, robust cash flow generation, and dividend payout.
On whether Medi Assist IPO is good or bad for a primary market investor, Gaurav Goel, Founder & Director at Fynocrat Technologies said, “We believe this IPO can be an alternative way to play the long-term health insurance growth in the country. One of the top TPAs, Medi Assist is the first third-party administrator (TPA) to launch an initial public offering (IPO), which takes place on January 15. The issue is an OFS, and the promoter stake will drop from 77% pre-issue to 46% after the offering. With 42% of the TPA market in terms of premiums, or 21% of the total health insurance market, Medi Assist leads the industry. By profits as well, Medi Assist accounts for 56 per cent of the TPA industry profits with its healthy margin profile. Considering the strong growth prospects, and cost leadership which ensures a leading market share, investors can subscribe to the issue.”
The Medi Assist healthcare IPPo has also received a “apply” rating from BP Equities, Canara Bank Securities, and Ventura Securities, while Swastika Investmart has maintained a “neutral” stance on the book builders. The public issue has not been rated by SBICAP Securities.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Namaskara india.com. We advise investors to check with certified experts before making any investment decision.
