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Medi Assist Healthcare Services Shares Extend Gains after Stock Market Debut

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4 months ago

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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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