- The stock listed at ₹465 as compared to the issue price of ₹418.
- The grey market had been expecting 8% listing gains from the stock.
- Its market capitalization is at ₹3,201 crore as per Bombay Stock Exchange.
The stock listed at ₹465 as compared to the issue price of ₹418 in the morning. Its market capitalization is at ₹3,201 crore as per Bombay Stock Exchange.
It held on to its gains even as the stock market saw a volatile trading session with Sensex shedding over a 1,000 points and Nifty down by 333 points.
The ₹1,171 crore issue was subscribed 16 times over the shares on offer. It also raised as much as ₹351 crore from anchor investors ahead of opening the issue to the public. Some of its anchor investors include
In 2023, many new debutants on the stock exchanges provided positive listing gains.
Here are the listing gains of the last few market debuts
Medi Assist’s issue is a complete offer for sale (OFS) with no fresh issue. It claims to be India’s largest health benefits administrator in terms of revenues as of FY21 to FY23.
Its primary clients are insurance companies; but it also serves as an intermediary between general and health insurance companies and the insured members, insurance companies and healthcare providers (such as hospitals), and the Government and beneficiaries of public health schemes.
As of FY22, its total revenues accounted for 24.89% of the Indian health benefits administration industry revenue, as per a Frost & Sullivan report. It’s also the largest health benefits administrator in India in terms of premium under management for retail and group policies, with a market share of 14.83% of the retail health insurance market.
The company has no peers listed in the market.
In FY23, its restated consolidated net profit went by 18.7% to ₹75.3 crore. Its revenues went up by 26% to ₹518.9 crore.