Medi Assist Healthcare Services IPO: Issue fully booked on day 2, retail portion subscribed 1.70x; GMP steady

Medi Assist Healthcare Services IPO subscription status: Within minutes of opening on the second day of subscription, the retail portion of Medi Assist IPO was fully subscribed. Medi Assist IPO subscription status is 1.20 times on day 2.

Medi Assist Healthcare Services IPO got off to a slow start on the first day of subscription, with the issue being booked 54%.

Also Read: Medi Assist Healthcare Services IPO: Issue subscribed 54% on day 1; GMP sharply drops

On day 1, Medi Assist Healthcare Services IPO's retail investors portion was subscribed 89%, Non Institutional Investors (NII) portion was subscribed 45%, and Qualified Institutional Buyers (QIB) portion is yet to be booked.

Medi Assist Healthcare Services IPO raised ₹351.47 crore on Friday, January 12, allotting 84,08,449 equity shares to 35 anchor investors. The Medi Assist Healthcare Services IPO price band has been fixed in the range of ₹397 to ₹418 per equity share of the face value of ₹5. The Medi Assist IPO date of subscription has been scheduled for Monday, January 15, and will close on Wednesday, January 17.

Also Read: Medi Assist Healthcare Services IPO day 2: GMP steady, check review, other key details. Should you subscribe?

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On day 2, Medi Assist Healthcare Services IPO's retail investors portion was subscribed 1.70 times, Non Institutional Investors (NII) portion was subscribed 1.61 times, and Qualified Institutional Buyers (QIB) portion is booked 1%.

Medi Assist Healthcare Services IPO subscription status

Medi Assist Healthcare Services IPO has received bids for 2,34,87,695 shares against 1,96,19,719 shares on offer, according to data from the BSE.

Medi Assist IPO retail investors' portion received bids for 1,66,55,555 shares against 98,09,859 shares on offer for this segment.

Medi Assist Healthcare Services IPO's non-institutional investors' portion received bids for 67,64,135 shares against 42,04,226 on offer for this segment.

Medi Assist IPO's QIBs portion received bids for 68,005 shares against 56,05,634 shares on offer for this segment.

Also Read: Medi Assist IPO opens today. GMP, subscription status, review, other details. Buy or not?

Medi Assist Healthcare Services IPO details

Medi Assist IPO, which is worth ₹1,171.58 crore, consists of offer-for-sale (OFS) by investors and promoters, among other current shareholders, who plans to sell 2.8 crore shares of the company. Therefore, the selling shareholders will receive the entire issue proceeds, less the IPO expenses.

Dr. Vikram Jit Singh Chhatwal, Bessemer India Capital Holding II Ltd., and Medimatter Health Management Private Limited are the company's promoters.

Investor Investcorp Private Equity Fund I and promoter Bessemer India Capital Holdings II decreased their ownership of Medi Assist Healthcare Services prior to the anchor book and IPO opening dates. On January 10, shares of the company valued at ₹536 crore were sold, according to a notice sent to investors on Financial Express (FE) on January 12.

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

Also Read: Medi Assist Healthcare IPO: Investcorp, Bessemer sell shares worth ₹536 crore ahead of IPO opening

Medi Assist Healthcare Services IPO GMP today

Medi Assist IPO GMP today or or grey market premium is +33. This indicates Medi Assist Healthcare Services share price were trading at a premium of ₹33 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Medi Assist Healthcare Services share price was indicated at ₹451 apiece, which is 7.89% higher than the IPO price of ₹418.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Medi Assist IPO: Here are key risks to know before subscribing to issue

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