- The NSE SME IPO will close on January 30 and the expected date of listing is February 2
- The allotment for DocMode Health Technologies is expected to be finalised on Wednesday, January 31
- The company offers 87 certificate programmes and is affiliated with over 35 medical associations and universities around the world
NE BUSINESS BUREAU
MUMBAI, JAN 27
The Initial Public Offering (IPO) of Mumbai-based DocMode Health Technologies Limited, a global platform for outcome-based learning in healthcare, opened on January 25, Thursday, and will close on January 30, Tuesday.
The DocMode Health Technologies IPO aims to raise Rs. 6.71 crore by issuing 8,49,600 shares at a fixed price of Rs. 79 per share. The IPO is entirely a fresh issue. The IPO received excellent response and was fully subscribed within a few hours. Exchange data showed the issue was oversubscribed 1.29 times at 2:00 pm, with the retail portion oversubscribed by more than two times.
Investors can bid for a minimum of 1,600 shares and in multiples thereof. For retail investors, the minimum application amount is Rs. 1,26,400. For High Net-worth Individuals (HNIs), the minimum application is two lots (3,200 shares), amounting to Rs. 2,52,800.
The company aims to utilise the net proceeds from the IPO towards purchasing IT infrastructure and operating systems, meeting incremental working capital requirements, and general corporate purposes. The promoter shareholding in the company will come down from 65.02% at present to 47.44% post the issue.
The allotment for DocMode Health Technologies is expected to be finalised on Wednesday, January 31. The shares will be listed on the NSE SME platform with a tentative listing date of Friday, February 2.
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.
Incorporated in 2017, DocMode Health Technologies Limited provides integrated learning solutions for healthcare professionals and learners worldwide through online and offline learning models. The company’s offline learning modules include conferences and workshops, and 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.
The company also provides a platform for inter-professional, cross-sector learning through panel discussions and courses. Users can utilise its performance assessment tools to improve their clinical acumen in daily medical practice. The company offers 87 certificate programmes and is affiliated with over 35 medical associations and universities around the world. The list of its services includes DocMode LERN, DocMode SURE, DocMode KNOW, DocMode CARE, and DocMode SHOP. The company had 66 employees as of December 31.
