Medi Assist Healthcare Services Limited IPO

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Insurance Distributors

Listed On: Jan 23, 2024 at ₹ 460.0(NSE)

₹ 14630 /35 Shares

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Price Summary

Last Closing

562.00 (34.45%)

52 Week High

716.15

52 Week Low

430.55

Last Update

22-Nov-2024 3:30 PM

Medi Assist Healthcare Services Limited IPO Details

15 Jan, 2024

Open Date

17 Jan, 2024

Close Date

18 Jan, 2024

Allotment Date

23 Jan, 2024

Listing Date

Issue Price

₹397-418 per equity share

Face Value

₹5 Per Equity Share

Listing at Group

BSE, NSE

Registrar

Link Intime India Private Ltd

List Price

460.0(NSE)

Listing Date

2024-01-23

Market Lot

Retail : 35 Shares (₹14,630/-)
S-HNI : 490 Shares (₹2,04,820/-)
B-HNI : 2,415 Shares (₹10,09,470/-)

Lead Manager

Axis Bank Limited
Iifl Securities Ltd
Nuvama Wealth Management Limited
SBI Capital Markets Limited

Issue Size

OFS : 28,028,168 shares(aggregating up to ₹1171.58 Cr)

Retail Portion

35% (Number of Retail Applications: 2,80,280 Approx),
(Number of S-HNI Applications : 2,860 Approx),
(Number of B-HNI Applications : 5,720 Approx)

Subscription

16.25 times

IPO Docs

DRHP RHP ANCHOR

Medi Assist Healthcare Services Limited IPO Subscription Details

As on	QIB	NII bNII sNII	Retail	Total
Shares Offered / Reserved	5,605,634	4,204,226 2,802,817 1,401,409	9,809,859	19,619,719
Day 1 - 15-01-24 05:00 PM	0.00 x	0.45 0.36 x 0.62 x	0.89 x	0.54 x
Day 2 - 16-01-24 05:00 PM	0.01 x	1.60 1.55 x 1.69 x	1.69 x	1.19 x
Day 3 - 17-01-24 05:00 PM	40.14 x	14.85 17.22 x 10.11 x	3.18 x	16.25 x

Total No. of Applications: 695,647 (Approx)

Medi Assist Healthcare Services Limited Valuations

Earnings Per Share (EPS)

₹10.65/-

P/E Ratio

N/A

RoNW

19.63%

Net Asset Value (NAV) - As on 31.03.22

₹N/A

Medi Assist Healthcare Services Limited Company Financials All values are in ₹ Cr.

	31-Mar-23	31-Mar-22	31-Mar-21
Assets	705.72	602.23	545.30
Revenue	518.96	412.02	345.57
Profit After Tax	74.04	64.22	26.27

About The Company

Medi Assist Healthcare Services Limited is a health-tech and insurance-tech company that manages health benefits for employers, retail members, and public health schemes, primarily serving insurance companies.

Medi Assist offers medical insurance and cashless hospitalization through a network of healthcare service providers. However, the company also acts as a mediator between (a) general and health insurance companies and their insured members, (b) insurance companies and healthcare providers (such as hospitals), and (c) the Government and beneficiaries of public health schemes. Medi Assist Healthcare collaborated with 36 insurance companies in India and worldwide as of March 31, 2023.

The revenue generated by the retail portfolio for the financial years 2021, 2022, and 2023 was ₹494.68 million, ₹579.84 million, and ₹570.29 million, respectively. These amounts constituted 15.33%, 14.72%, and 11.29% of the total revenue from customer contracts for the same years.

As of March 31, 2023, the company has established a healthcare network across India, with over 14,000 hospitals in 967 cities and towns in 32 states and union territories.

During FY2023, the company settled 5.27 million claims, comprising 2.44 million in-patient claims and 2.83 million out-patient claims.

Medi Assist Healthcare Services Limited - Promoter(s)

Pre Issue Share Holding: 67.55%

Post Issue Share Holding: 45.75%

Company Promoter(s)

Dr Vikram Jit Singh Chhatwal
Medimatter Health Management Private Limited
Bessemer India Capital Holding II Ltd

Medi Assist Healthcare Services Limited IPO - Issue Objectives

The object of the Offer is to achieve the benefits of listing the Equity Shares on the Stock Exchanges. The company expects that listing the Equity Shares will enhance its visibility and brand and provide liquidity to its existing Shareholders. The listing will also provide a public market for the Equity Shares in India. The company will not receive any proceeds from the Offer. All proceeds from the Offer will go to the Selling Shareholders, in proportion to the Equity Shares offered by them in the Offer for Sale.

Medi Assist Healthcare Services Limited IPO - Anchor Investors

Medi Assist Healthcare Services IPO: Anchor investors buy Rs 351 crore of shares.

Marquee names in the list of anchor investors included Nomura Trust, Goldman Sachs, Ashoka Whiteoak, Pinebridge Global Funds, Troo Capital, and HSBC.

Further, HDFC Mutual Fund, Kotak Mahindra Trustee, Aditya Birla Sun Life Trustee, SBI Life Insurance Company, Mirae Asset, Canara Robeco Mutual Fund, Tata Mutual Fund, Sundaram Mutual Fund, Bandhan Mutual Fund, Edelweiss Trusteeship, Bajaj Allianz Life Insurance Company, Max Life Insurance Company and SBI General Insurance Company among domestic investors also participated in the anchor book, which was launched for a day on January 12.

Medi Assist Healthcare Services Limited IPO - FAQs

Ans. Medi Assist Healthcare Services Limited IPO is a Mainboard IPO. The issue is priced at ₹397-418 per equity share. The minimum order quantity is 35 Shares. The IPO opens on Jan 15, 2024, and closes on Jan 17, 2024. Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The Medi Assist Healthcare Services Limited IPO opens on Jan 15, 2024 and closes on Jan 17, 2024.

Ans. The size of Medi Assist Healthcare Services Limited IPO is OFS : 28,028,168 shares(aggregating up to ₹1171.58 Cr).

Ans. The IPO price band is set between ₹397-418 per equity share.

Ans. To apply for Medi Assist Healthcare Services Limited IPO IPO, follow the steps given below:

- Open the IPO Ji App or Website
- Find Medi Assist Healthcare Services Limited IPO in the List of IPOs
- Press "Apply" Button
- Select Your Demat Account
- Select Your Shares Quantity and Submit
- Track Your IPO Status

Ans. The share allotment date of Medi Assist Healthcare Services Limited IPO is Jan 18, 2024.

Ans. The Medi Assist Healthcare Services Limited IPO will be listed on Jan 23, 2024.

Ans. Follow the steps to check the allotment status for Medi Assist Healthcare Services Limited IPO here.