Medi Assist Healthcare shares surge 11%; Nova Agritech IPO subscribed 9.7x

Medi Assist Healthcare shares surge 11% on debut
 

Shares of Medi Assist Healthcare Services, an insurance third-party administrator, rose 11 per cent over their initial public offering (IPO) price during their stock market debut on Tuesday. After hitting a high of Rs 509.6 and a low of Rs 446, the stock closed at Rs 464.25 as against its issue price of Rs 418. At the last close, Medi Assit was valued at Rs 3,197 crore.

The company’s Rs 1,172 crore IPO—entirely an offer for sale—had garnered subscription of nearly 16 times. In FY23, Medi Assist clocked net profit of Rs 74 crore on revenues of 

 

Rs 505 crore.

EPACK Durable subscribed 3.67 times on second day

The initial public offering (IPO) of EPACK Durable, an outsourced design manufacturer of room air conditioners, got subscribed 3.67 times on its second day of subscription on Tuesday. The initial share sale received bids for 7,33,70,765 shares, as against 1,99,77,615 shares on offer, as per NSE data.

The category for retail individual investors (RIIs) got subscribed 3.80 times, while the quota for non-institutional investors received 7.90 times subscription.The portion meant for qualified institutional buyers (QIBs) was subscribed 17 per cent.The IPO has a fresh issue of Rs 400 crore and an offer-for-sale of up to 1,04,37,047 equity shares.

Nova Agritech IPO subscribed 9.7x on Day 1

The initial public offering (IPO) of Nova Agritech garnered nearly 10 times subscription on Tuesday, the opening day of the issue. Most of the bids on the first day came from individual investors. Nova Agritech, an agro product company, is looking to issue Rs 112 crore of new shares in its Rs 144-crore IPO. At the top-end of the price band the company is valued at Rs 380 crore. bs reporter