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Medi Assist Healthcare Services Shares Extend Gains after Stock Market Debut

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10 months ago

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Medi Assist Healthcare Services Shares Extend Gains After Stock Market Debut

Medi Assist Healthcare Services shares continued to rise after their debut in the stock market. The shares were listed with a 10% premium on the NSE at ₹460 apiece. Trading began at ₹465 apiece, reflecting an 11.24% increase from the IPO price of ₹418. The stock reached a high of ₹509.60 apiece, demonstrating positive market sentiment.

Before the listing, Medi Assist shares commanded a premium of ₹34 in the grey market, indicating high demand for the IPO. The health-tech company received strong investor interest, with the IPO being subscribed 16.25 times. Retail investors subscribed 3.19 times, while the Qualified Institutional Buyers’ category saw a subscription of 40.14 times, and Non-Institutional Investors’ category at 14.85 times.

Shivani Nyati, Head of Wealth at Mint, advised short-term investors to book profits after the listing, whereas long-term investors could hold the stock with a stop loss at the issue price. While the successful debut highlights the potential of Medi Assist Healthcare Services, cautious optimism is still advised.

Rachel Adams

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