Medi Assist Healthcare IPO will open for subscription from 15 January 2024. The company aims for an issue size of ₹1,171.58 Cr through this IPO.
Company Overview
| Full name | Medi Assist Healthcare Services Limited |
| Sector | Logistics |
| Industry | Logistics |
| Company Website | https://www.mediassist.in/ |
About Company
Medi Assist Healthcare Services, India’s largest health benefits administrator, primarily serves insurance companies. Yet, it functions as an intermediary linking (a) the insured with general and health insurance firms, (b) healthcare providers like hospitals with insurance companies, and (c) the Government with beneficiaries of public health schemes. As of the conclusion of FY 2023, Medi Assist effectively managed health insurance premiums totaling INR 14,574.65 crore, encompassing both group and retail policies. This marked a substantial growth, manifesting as a CAGR of 35.67% from its FY 2021 closing figure of INR 7,918.49 crore. Notably, as of 31 March 2023, the company collaborates with 36 insurance entities, spanning both the Indian and global insurance landscape.
The company is India’s largest health benefits administrator, managing premiums for retail and group schemes. Serving over 9,500 group accounts across sectors, its core mission is to efficiently handle the insurance needs of employees. Over time, Medi Assist has forged an extensive healthcare provider network spanning the entirety of India. This network encompasses 14,301 hospitals spread across 967 cities and towns, spanning 32 states and union territories, as of 31 March 2023. Throughout FY 2023, the company facilitated the settlement of 5.27 million claims, delineated into 2.44 million in-patient claims and 2.83 million domiciliary or outpatient claims.
The Objectives of the Issue
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 IPO Timetable
| IPO Opening date | 15 January 2024 |
| IPO Closing | 17 January 2024 |
| Basis of Allotment | 18 January 2024 |
| Initiation Refund | 19 January 2024 |
| Credit to Demat Account | 19 January 2024 |
| Listing Date | 22 January 2024 |
Medi Assist Healthcare IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹1,171.58 Cr – 28,028,168 shares |
| Fresh Issue | Nil |
| Offer for sale | ₹1,171.58 Cr – 28,028,168 shares |
| Face value | ₹05 per share |
| Price Band | ₹397 to ₹418 per share |
| Lot size | 35 Shares |
| Shareholding pre-issue | 68,859,212 |
| Shareholding post-issue | 68,859,212 |
| Listing Exchange | BSE & NSE |
Medi Assist Healthcare IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 35 | ₹14,630 |
| Retail (Max) | 13 | 455 | ₹190,190 |
| S-HNI (Min) | 14 | 490 | ₹204,820 |
| S-HNI (Max) | 68 | 2,380 | ₹994,840 |
| B-HNI (Min) | 69 | 2,415 | ₹1,009,470 |
Medi Assist Healthcare IPO Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Medi Assist Healthcare Financial Performance
| FY 2021 | FY 2022 | FY 2023 | H1 FY 2024 | |
| Revenue | 322.74 | 393.81 | 504.93 | 301.96 |
| Expenses | 284.53 | 333.95 | 415.35 | 260.62 |
| Net income | 26.27 | 64.22 | 74.04 | 22.49 |
| Margin (%) | 8.14 | 16.31 | 14.66 | 7.45 |
Medi Assist Healthcare Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 5.62 | 9.14 | 10.83 |
| PE ratio | – | – | 36.66 – 38.60 |
| RONW (%) | 12.99 | 18.71 | 19.63 |
| NAV | 42.48 | 49.27 | 55.72 |
| ROCE (%) | 20.43 | 22.02 | 24.95 |
| EBITDA (%) | 28.48 | 27.19 | 25.70 |
| Debt/Equity | – | – | – |
Company Promoters
- Dr Vikram Jit Singh Chhatwal
- Medimatter Health Management Private Limited
- Bessemer India Capital Holding II Ltd.
Promoter Holding
| Pre Issue Share Holding | 67.55% |
| Post Issue Share Holding | 45.75% |
Medi Assist Healthcare Lead Manager(s)
- Axis Bank Limited
- IIFL Securities Ltd
- Nuvama Wealth Management Limited
- SBI Capital Markets Limited
Medi Assist Healthcare Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: (+91) 810 811 4949
Email: medi.ipo@linkintime.co.in
Website: www.linkintime.co.in
Medi Assist Healthcare Contact Details
MEDI ASSIST HEALTHCARE SERVICES LIMITED
Tower D, 4th floor, IBC Knowledge Park,
4/1 Bannerghatta Road, Bengaluru 560 029, Karnataka
Phone: (+91 80) 6919 0000
Email: investor.relations@mediassist.in
Website: www.mediassist.in
Medi Assist Healthcare IPO Allotment Status
Medi Assist IPO allotment status will be available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.
Final thoughts
Medi Assist Healthcare IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
