Medi Assist Healthcare Services debuted on bourses at Rs 460 with a premium of 10% on the issue price. The final issue price was fixed at Rs 418.
Shares of the company rose upto Rs 518, up 24% from its opening price in early trade. However, it couldn’t sustain and is now trading close to Rs 470 levels. Before that the stock fell to the intraday low of Rs 459.80, but is currently up 10% from the opening price in intra-day trade.
Medi Assist is a health-tech and insurance-tech company, which offers third party administration services to insurance companies. Speaking on the listing Shivani Nyati, head of wealth at Swastika Investmart said, “This successful debut paints a brighter picture for Medi Assist, but “cautious optimism is still advised”. Thus, investors may 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, Nyati added.