TPA/Health Insurance - Listed on 23 January 2024
Medi Assist Healthcare (TPA/Health Insurance) closed its IPO window in 2024 and listed on NSE and BSE on 23 January 2024 at an upper band issue price of Rs 418, opening at Rs 460 for a listing gain of +10.0% and closing day one at Rs 464.1 (+11.0% on closing basis). The IPO was subscribed 16.25x overall - QIB 40.14x, HNI/NII 14.85x, Retail 3.19x. The total issue size was Rs 1,171.58 Cr (Fresh Issue Rs 0 Cr, OFS Rs 1171.58 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
TPA/Health Insurance
Medi Assist Healthcare operates in the TPA/Health Insurance space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The Medi Assist Healthcare issue was offered at an upper price of Rs 418 and raised approximately Rs 1,171.58 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 55 | +8.37% |
| Day 2 | Rs 55 | +7.66% |
| Day 3 | Rs 40 | +7.18% |
| Day 4 | Rs 35 | +7.18% |
| Day 5 | Rs 40 | +9.57% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
How the broader market moved around the Medi Assist Healthcare IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Medi Assist Healthcare IPO listed at +10.0% versus the upper issue price of Rs 418 on 23 January 2024.
Medi Assist Healthcare IPO was subscribed 16.25x overall. QIB portion was subscribed 40.14x, HNI / NII 14.85x and Retail 3.19x.
IPO GMP started at Rs 55 on Day 1 and moved to Rs 40 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.