Docmode Health Tech IPO Allotment Set for Today, NSE SME Listing on Horizon

The Docmode Health Technologies shares are set to be listed on NSE SME, with a tentative listing date of Friday, February 2, 2024.

The initial public offering (IPO) allotment for Mumbai-based Docmode Health Technologies is scheduled to be finalised today.

The Docmode Health Technologies IPO was released on January 25, 2024, and closed for subscription on January 30. Docmode's shares are set to be listed on NSE SME, with a tentative listing date of Friday, February 2, 2024.

Founded in 2017, Docmode Health Technologies provides integrated learning solutions for healthcare professionals and learners globally. Their mission is to create a value-based online learning experience for health professionals. The company focuses on continuous learning in the ever-evolving field of healthcare.

The small-and medium-sized enterprise (SME) Docmode Health Technologies received significant investor interest, with the public issue being subscribed 215.24 times on the final day of bidding.

Key Details

Issue Size: The IPO is a fixed price issue of INR 6.71 Cr.

Fresh Issue: The entire issue consists of 8.5 Lakh fresh shares.

Subscription Period: The subscription period began on January 25, 2024, and concluded on January 30, 2024.

Price Band: The fixed price per equity share is INR 79.

Quota Allocation:

Retail Quota: 50%

Non-Institutional Investor (NII) Quota: 50%

Allotment Date: The allotment for the Docmode Health Technologies IPO is expected to be finalised on Wednesday, January 31, 2024

IPO Subscription Status

Docmode Health Tech IPO has received bids for 17,35,71,200 shares against 8,06,400 shares on the offer.

Additionally, the retail category of the Docmode Health Tech IPO was subscribed over 230 times and received 9,28,88,000 applications against the offered 4,03,200 shares. Meanwhile, the NII portion was subscribed 194.90 times on the last day of subscription.

However, on the first day of subscription, Docmode Health Tech IPO was reserved not more than 47.46% of the shares in the public issue for retail investors and 47.46% of the shares for NIIs. The portion reserved for the retail investors was subscribed over four times and the portion reserved for NIIs was undersubscribed 0.06 times on the first day of bidding.

Docmode Health Tech IPO Details

The SME’s IPO received a strong response from retail investors and non-institutional investors (NIIs). The minimum amount of investment required by retail investors is INR 1,26,400. While the minimum lot size investment for HNI is two lots (3,200 shares) amounting to INR 2,52,800.

Reportedly, Fedex Securities Pvt Ltd is the book-running lead manager of the Docmode Health Technologies IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Docmode Health Technologies IPO is Rikhav Securities. Paulson Paul Thazhathedath and Hans Albert Lewis are the promoters of the company.

Docmode's offline learning modules include conferences and workshops, while the online modules include courses developed by the company's content development team or by medical institutions and medical associations (medical professional organisations) and experts/opinion leaders.

In the same vein, days back, Medi Assist IPO debuted with a 54% Subscription on Day 1. On the first day of subscription, the retail investors' portion of the Medi Assist Healthcare Services IPO saw a subscription rate of 89%, while 45% of the Non-Institutional Investors (NII) portion was subscribed.

The third-party health insurance service provider opened a subscription for Anchor Investors on January 12. The company raised INR 351.47 Cr from 35 anchor investors by allotting 84,08,449 equity shares among them.

According to the exchange filing submitted by Medi Assist, its anchor investors include Nomura Trust, Goldman Sachs, Ashoka Whiteoak, Pinebridge Global Funds, Troo Capital, and HSBC.