Active Stocks
Tue May 28 2024 15:59:27
  1. Tata Steel share price
  2. 174.85 -0.37%
  1. HDFC Bank share price
  2. 1,530.50 0.17%
  1. ITC share price
  2. 428.90 -0.60%
  1. State Bank Of India share price
  2. 830.90 -0.38%
  1. Infosys share price
  2. 1,466.20 -0.37%
Business News/ Markets / Stock Markets/  Medi Assist share price extends gains after listing; Should you book profit or hold?
BackBack

Medi Assist share price extends gains after listing; Should you book profit or hold?

According to analysts, short term investors may book profits after listing, while long-term investors may hold the stock keeping stop loss at issue price.

Medi Assist shares began trading at ₹465 apiece on BSE, up 11.24% than the IPO price of ₹418. Premium
Medi Assist shares began trading at 465 apiece on BSE, up 11.24% than the IPO price of 418.

Medi Assist Healthcare Services share price extended gains after making its stock market debut on Tuesday. Medi Assist shares were listed with a 10% premium to issue price at 460 apiece on NSE.

On BSE, Medi Assist shares began trading at 465 apiece, up 11.24% than the IPO price of 418. After a decent listing, Medi Assist Healthcare shares made a high of 509.60 apiece. 

In the grey market, Medi Assist shares were commanding a premium of 34 ahead of the listing.

Read here: Medi Assist share price makes a lukewarm debut, stock opens with 10% premium at 460 on NSE

The strong listing of Medi Assist Healthcare Services on the stock exchanges today comes after the company’s initial public offering (IPO) received robust demand from investors.

Medi Assist Healthcare IPO was subscribed 16.25 times during January 15 to January 17, further adding to the positive sentiment surrounding the health-tech firm’s prospects. 

The public issue was subscribed 3.19 times in the retail category, 40.14 times in the Qualified Institutional Buyers’ (QIB) category, and 14.85 times in the Non-Institutional Investors’ (NII) category.

(Exciting news! Mint is now on WhatsApp Channels :rocket: Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!)

According to analysts, short term investors may book profits after listing, while long-term investors may hold the stock keeping stop loss at issue price.

“Medi Assist Healthcare Services Limited is a well-established health-tech and insurance-tech company, but the identified concerns regarding client concentration and dependence on subsidiaries still require ongoing monitoring. This successful debut paints a brighter picture for Medi Assist, but cautious optimism is still advised," said Shivani Nyati, Head of Wealth, Swastika Investmart Ltd.

Thus, she advises investors to book this listing gain and exit their holdings, however, those who want to hold positions are advised to keep a stop loss at issue price.

Also Read: EPACK Durable IPO fully booked on day 2 on strong retail, NII interest; GMP steady

Medi Assist Healthcare Services is a health-tech and insurance-tech company. It raised 1,171.58 crore from the IPO that consisted of an offer-for-sale (OFS) by investors and promoters who sold 2.8 crore equity shares of the company.

Medi Assist IPO price band was fixed at 397-418 per share. 

As of September 30, 2023, the company has established a pan-India healthcare provider network that includes 18,754 hospitals spread across 1,069 cities and towns, 31 states (including union territories), and 141 countries worldwide.

At 11:15 am, Medi Assist Healthcare Services shares were trading at 470.95 apiece on the BSE, higher by 1.28% than the listing price, and up by 12.67% than the IPO price.

Catch Live Market Updates here

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.

You are on Mint! India's #1 news destination (Source: Press Gazette). To learn more about our business coverage and market insights Click Here!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 23 Jan 2024, 11:19 AM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started