Medi Assist Healthcare Services IPO Subscribed 89% on Day 2, Retail Portion Fully Booked

Medi Assist Healthcare Services IPO has witnessed a strong response on the second day of subscription, with the retail portion being fully subscribed within minutes of opening. The overall subscription status stands at 89% as of 13:39 IST.

The IPO got off to a slow start on the first day, with only 54% of the issue being booked. However, on day 2, the retail investors portion was subscribed 1.41 times, the non-institutional investors portion was subscribed 87%, and the qualified institutional buyers portion is yet to be booked.

Medi Assist Healthcare Services IPO has received bids for 1,74,55,025 shares against 1,96,19,719 shares on offer. The retail investors portion received bids for 1,37,97,035 shares against 98,09,859 shares on offer, while the non-institutional investors portion received bids for 36,52,075 shares against 42,04,226 shares on offer. The qualified institutional buyers portion received bids for 5,915 shares against 56,05,634 shares on offer.

The IPO, worth ₹1,171.58 crore, is an offer-for-sale by investors and promoters. The selling shareholders will receive the entire issue proceeds, less the IPO expenses. The promoters of the company are Dr. Vikram Jit Singh Chhatwal, Bessemer India Capital Holding II Ltd., and Medimatter Health Management Private Limited.

Medi Assist Healthcare Services raised ₹351.47 crore through allotment of 84,08,449 equity shares to 35 anchor investors. The IPO price band is fixed between ₹397 and ₹418 per equity share with a face value of ₹5. The IPO opened for subscription on January 15 and will close on January 17.

The book running lead managers for the IPO are Axis Bank Limited, ICICI Securities Limited, Nuvama Wealth Management Limited, and SBI Capital Markets Limited. The registrar for the offering is Link Intime India Private Ltd.

Currently, the grey market premium for Medi Assist IPO stands at +33, indicating that the shares are trading at a premium of ₹33 in the grey market. Considering the upper end of the price band and the current premium, the estimated listing price of Medi Assist Healthcare Services shares is ₹451 apiece, which is 7.89% higher than the IPO price of ₹418.

Please note that the above information is based on the latest subscription status and market data, and it is advisable to consult certified experts before making any investment decision.