Docmode Health Technologies IPO Makes Striking Debut

Docmode Health Technologies IPO Makes Striking Debut

VoM News Desk | February 2, 2024 | 11:26 AM IST | Breaking News | Follow on Google News

Docmode Health Technologies IPO Makes Striking Debut

Docmode Health Technologies IPO Makes Striking Debut

In a remarkable debut on the NSE SME, Docmode Health Technologies Ltd’s IPO opened at ₹190.25, presenting investors with a stellar premium of 140% over the issue price of ₹79. This exceeded expectations, as indicated by a grey market premium of ₹45, projecting a listing at ₹124, 56.96% above the issue price.

Robust Response and Oversubscription

Docmode Health Technologies’ IPO received an overwhelming response, with a subscription rate of 215.24 times. The retail category witnessed a subscription of 230.38 times, emphasizing the strong investor interest in the integrated learning solutions company. The IPO, a fixed price issue of ₹6.71 crores, comprised an entirely fresh issue of 8.5 lakh shares.

About Docmode Health Technologies

Founded in 2017, Docmode Health Technologies offers integrated learning solutions for healthcare professionals worldwide through online and offline modules. Its offline learning includes conferences and workshops, while online modules feature courses developed by the company or medical institutions and associations. The platform facilitates interprofessional learning and offers performance assessment tools for clinical improvement.

Financial Performance and Growth

Docmode Health Technologies exhibited robust financial performance, with a 165.12% increase in revenue and a 111.3% rise in profit after tax (PAT) between the financial years ending March 31, 2023, and March 31, 2022. The IPO’s market capitalization stands at ₹24.83 crore, reflecting investor confidence in the company’s growth prospects.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.