Medi Assist Healthcare IPO

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 nameMedi Assist Healthcare Services Limited
Company Website

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 date15 January 2024
IPO Closing17 January 2024
Basis of Allotment18 January 2024
Initiation Refund19 January 2024
Credit to Demat Account19 January 2024
Listing Date22 January 2024
(Cut-off time for UPI mandate confirmation – 5 PM on January 17, 2024)

Medi Assist Healthcare IPO details

Issue typeBook Built Issue IPO
IPO issue size₹1,171.58 Cr – 28,028,168 shares
Fresh IssueNil
Offer for sale₹1,171.58 Cr – 28,028,168 shares
Face value₹05 per share
Price Band ₹397 to ₹418 per share
Lot size35 Shares
Shareholding pre-issue68,859,212
Shareholding post-issue68,859,212
Listing ExchangeBSE & NSE

Medi Assist Healthcare IPO Lot Size

Retail (Min)135₹14,630
Retail (Max)13455₹190,190
S-HNI (Min)14490₹204,820
S-HNI (Max)682,380₹994,840
B-HNI (Min)692,415₹1,009,470

Medi Assist Healthcare IPO Reservation Details

QIB Shares Offered50%
NII (HNI) Shares Offered15%
Retail Shares Offered35%

Medi Assist Healthcare Financial Performance

 FY 2021FY 2022FY 2023H1 FY 2024
Net income26.2764.2274.0422.49
Margin (%)8.1416.3114.667.45
(Amount in ₹ Crores)

Medi Assist Healthcare Valuations & Margins

FY 2021FY 2022FY 2023
PE ratio36.66 – 38.60
RONW (%)12.9918.7119.63
ROCE (%)20.4322.0224.95
EBITDA (%)28.4827.1925.70

Company Promoters

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

Promoter Holding

Pre Issue Share Holding67.55%
Post Issue Share Holding45.75%

Medi Assist Healthcare Lead Manager(s)

  • Axis Bank Limited
  • IIFL Securities Ltd
  • Nuvama Wealth Management Limited
  • SBI Capital Markets Limited

Medi Assist Healthcare Registrar

C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: (+91) 810 811 4949

Medi Assist Healthcare Contact Details

Tower D, 4th floor, IBC Knowledge Park,
4/1 Bannerghatta Road, Bengaluru 560 029, Karnataka
Phone: (+91 80) 6919 0000

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

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