India's Medi Assist Healthcare jumps in debut trade

Medi Assist Healthcare Services

23/01/2024 09:12

** Shares of Medi Assist Healthcare Services  MEDA.NS  jump
~24% in debut trade vs initial public offer (IPO) price of 418
rupees
    ** Stock opened at 460 rupees and climbed to 518 rupees,
valuing the health tech provider at 35.67 bln rupees ($429.3
mln)
    ** Stock currently up ~12% and has stayed above IPO price so
far; volume at ~15 mln shares
    ** IPO had offer for sale of shares worth up to 11.72 bln
rupees from stakeholders; offering oversubscribed 16.25x -
exchange data

($1 = 83.0858 Indian rupees)

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))