IPO NEWS

Medi Assist: Revised Listing to January 23

Medi Assist Healthcare Services, a third-party healthcare administrator, has rescheduled its listing to January 23. The IPO generated notable investor interest, with a significant oversubscription of 16.25 times the final issue price of Rs 418 per share during January 15-17. Despite adjustments due to the Ram Mandir holiday, the IPO indicates a positive market sentiment.

Listed on 23rd Jan 2023 : Listing @460 (10.05%)  

L@460 (10.05%)

Open IPOS:

1) Nova Agritech

Nova Agritech is gearing up for its initial public offering (IPO) with a total issue size of Rs 143.81 crore. Here are the key details:

 IPO Dates: The IPO subscription window is set to open on January 23 and will conclude on January 25, 2024.

 Price Band: Nova Agritech's IPO has a price band fixed at Rs 39-41 per share.

 Offer Composition: The IPO includes a fresh issue of 2.73 crore shares, valued at Rs 112 crore, and an offer-for-sale (OFS) of 77.58 lakh shares, amounting to Rs 31.81 crore. The promoters, namely Suraksha Agri Retails (India), Malathi S, and Kiran Kumar Atukuri, are part of the offer-for-sale.

 Institutional Investment: Prior to the IPO, the company secured Rs 43.14 crore from institutional investors on January 19. AG Dynamic Funds emerged as the leading investor, acquiring nearly Rs 13 crore worth of equity shares.

Objectives of the Issue: The net proceeds from the fresh issue, totaling Rs 14.20 crore, will be earmarked for investment in its subsidiary Nova Agri Sciences. Additionally, funds will support the establishment of a new formulation plant, capital expenditure, and the expansion of existing facilities.

 Listing Date: The basis of allotment will be finalized by January 29, with shares credited to demat accounts by January 30.

GMP updates:

GMP Date	IPO Price	GMP	Sub2 Sauda Rate	Estimated Listing Price	Last Updated
25-01-2024 Close	41.00	₹20	5500/77000	₹61 (48.78%)	25-Jan-2024 19:53
24-01-2024	41.00	₹20	5500/77000	₹61 (48.78%)	24-Jan-2024 23:32
23-01-2024 Open	41.00	₹20	5500/77000	₹61 (48.78%)	23-Jan-2024 23:27

GMP Date	IPO Price	GMP	Sub2 Sauda Rate	Estimated Listing Price	Last Updated
23-01-2024 Open	41.00	₹20	5500/77000	₹61 (48.78%)	23-Jan-2024 20:29
22-01-2024	41.00	₹20	5500/77000	₹61 (48.78%)	22-Jan-2024 23:31
21-01-2024	41.00	₹20	5500/77000	₹61 (48.78%)	21-Jan-2024 23:25