Wednesday, February 21, 2024

Those who got shares of Medi Assist got 22% return, profit has been earned, should they sell the shares and exit?

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Medi Assist Healthcare Services Listing Gains: Shares of Bengaluru based third party administration service provider to insurance company Medi Assist Healthcare Services got listed in the stock market today. Successful investors who invested money in the company’s IPO (IPO 2024) have got better returns in it. The company’s shares were listed on BSE at Rs 465, which is 11 percent more than the upper price band of Rs 418. But within some time it increased to Rs 509 (Medi Assist Healthcare Stock Price). That means investors got up to 22 percent return during intraday. The question is whether to book profits and stay in the stock for returns. The IPO also received strong subscription.

The response from investors was strong

Medi Assist’s IPO received a strong response from investors. It was subscribed 16.25 times overall. In the IPO, 50 percent share was reserved for Qualified Institutional Buyers (QIB) and it was filled 40.14 times. 15 per cent was reserved for non-institutional investors (NIIs) and it was filled 14.85 times. Whereas 35 percent share was reserved for retail investors which was filled 3.19 times.

What is your opinion about the company?

Brokerage house Choice Broking says there is no peer with a business model similar to Medi Assist Healthcare. The company is meeting the needs of the rapidly growing health insurance sector. Thus, given its dominant share in the TPA market, consistent financial performance, healthy cash flow generation and dividend payout, the company’s stock is expected to rise.

Brokerage house Swastika Investmart says Medi Assist Healthcare has a scalable, technology-enabled infrastructure that caters to all segments of the health insurance ecosystem. It has a diversified base of group accounts and strong tie-ups with most of the insurance companies. Financially, the company displays encouraging metrics. According to the brokerage, a significant portion of Medi Assist’s revenue is focused on limited clients, and its subsidiaries play a key role in its overall performance by providing dependability.

about the company

Medi Assist Healthcare Services Limited provides third party administration services to insurance companies through its wholly owned subsidiaries, MedVantage TPA, Raksha TPA and Medi Assist TPA. An organization that handles health insurance claims on behalf of insurance companies and provides services such as network management, policy administration and customer service is known as Third Party Administration. With the help of its subsidiaries, IHMS, Mayfair India, Mayfair UK, Mayfair Group Holding, Mayfair Philippines and Mayfair Singapore, the company also provides additional health care and support services, such as hospitalization, call centre, customer relations, contract management , billing, and claims processing services. By September 30, 2023, the company has established a pan-India healthcare provider network consisting of 18,754 hospitals spread across 1069 cities and towns, 31 states (including Union Territories) and 141 countries across the world.

(Disclaimer: Advice on stocks is given by the brokerage house. These are not the personal views of digitnews There are risks in the market, so take expert opinion before investing.)

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