Ahead of the listing, the company’s shares traded with a premium of Rs 42 in the unlisted market.
The public offer of Docmode Health Technologies, which is entirely a fresh equity issue of 8.49 lakh shares, received strong response with an overall subscription of 215 times at close. The category reserved for retail investors was booked 230 times and other investors was subscribed 194 times.
The company is engaged in the business of offering integrated learning solutions through an online platform to doctors, physicians, surgeons and allied healthcare professionals such as dieticians, physiotherapist, nurses, technicians and paramedics across the world, spanning the education value chain.
Its online courses content is reviewed and presented by a dedicated in-house content development team or by medical institutions and medical associations (medical professional bodies) and subject matter experts/key opinion leaders who are focused to effectively transfer knowledge, as well as communicate and network with each other through our learning and professional networking platform.
The education sector in India was estimated to be worth $117 billion in FY20 and is expected to reach $225 billion by FY25. The online education market in India is expected to grow by $2.28 billion during 2021-2025, at a CAGR of almost 20%.For the period ended September 2023, the company clocked revenues of Rs 22.36 crore and net profit of Rs 1.36 crore.The net proceeds from the public offer will be used for purchase of IT infrastructure, operating system and services, working capital requirements and general corporate purposes.
Fedex Securities acted as the lead manager to the issue and Bigshare Services was the registrar.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
(You can now subscribe to our ETMarkets WhatsApp channel)
Download The Economic Times News App to get Daily Market Updates & Live Business News.
Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.
Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price