Medi Assist Healthcare Services IPO
The initial public offering (IPO) of Medi Assist Healthcare Services will open for subscription on January 15 and close on January 17, it is an offer for sale (OFS) of Rs. 1,171.58 crore. An investor can apply for the issue for a minimum of 35 shares and the listing will happen on January 22, 2024.
#1. Quick Intro of Medi Assist Healthcare Services Limited
Medi Assist Healthcare Services Limited (2000) provides third-party administration services to insurance companies through their subsidiaries companies. Third-party administration is an organization that processes health insurance claims for insurance companies and provides services such as policy administration, customer service, network management, etc.
Check out the IPO allotment status on IPO Deliver.
#2. IPO Object of Medi Assist Healthcare Services
The company intends to use the IPO Funds for the following purposes:
- To carry out the offer for sale of up to 28,028,168 equity shares by selling shareholders
- To achieve the benefit of listing
#3. Medi Assist Healthcare Services Core Strengths
- Well-established third-party administrator in India.
- Scalable technology-enabled Infrastructure addressing the needs of all Constituents of the health insurance ecosystem.
- Longstanding relationship with a majority of insurance companies
- Diversified base of group accounts
- Experienced management team
#4. Medi Assist Healthcare Services IPO Review & Rating
| Issue Size | Rs.1,171.58 Crore |
|---|---|
| Issue Price | Rs.139 to Rs.418 Per Share |
| Minimum Lot Size | 35 Shares |
| Total Profit (March 2023) | Rs.74.04 Crore |
| ROE | – |
| ROCE | 24.95% |
| Listing on | NSE & BSE |
| IPO Deliver Rating | Three |
#5. Medi Assist Healthcare Services IPO Dates, Price Band & Details
Medi Assist Healthcare Services IPO will open on January 15, 2024, and close on January 17, 2024. The IPO is to be listed on January 22, 2024.
| Type of issue | Book Built Issue IPO |
|---|---|
| Issue Size | Rs.1,171.58 Crore |
| Issue Price | Rs.139 to Rs.418 Per Share |
| Face Value | Rs. 5/- per share |
| IPO Open Date | January 15, 2024 |
| IPO Close Date | January 17, 2024 |
| IPO Allotment Date | January 18, 2024 |
| Refund Date | January 19, 2024 |
| Share Credit Date | January 19, 2024 |
| Listing Date | January 22, 2024 |
#6. Medi Assist Healthcare Services IPO Offer Details
Medi Assist Healthcare Services’s IPO total issue size is 28,028,168 shares, comprising the below-mentioned categories.
| Offer Category | Shares Offer | Amount (Crore) |
|---|---|---|
| Fresh Issue | – | – |
| Offer for Sale (OFS) | 28,028,168 | 1,171.58 |
#7. Medi Assist Healthcare Services Financials Overview (in Crore)
The following table sets forth the summary of financial information of the company for the financial year ending March 31, 2023, 2022, and 2021.
| Category (Rs.) | March 31, 2023 | March 31, 2022 | March 31, 2021 |
|---|---|---|---|
| Total Revenue | 518.96 | 412.02 | 345.57 |
| Net Worth | 383.67 | 339.29 | 292.55 |
| Profit | 74.04 | 64.22 | 26.27 |
| Total Borrowings | – | – | – |
#8. Medi Assist Healthcare Services Quantitative Factors
The following table sets forth the summary of financial information of the company for the financial year ending March 31, 2023, 2022, and 2021.
| Category | March 31, 2023 | March 31, 2022 | March 31, 2021 |
|---|---|---|---|
| EPS (Rs.) | 10.94 | 9.22 | 5.67 |
| RoNW (%) | 19.30 | 18.93 | 8.98 |
| NAV (Rs.) | 55.52 | – | – |
#9. Medi Assist Healthcare Services Comparison with Other Peer Companies
No listed companies in India are comparable in all aspects of the business.
| Company Names | Total Revenue
(Rs. in -)) |
RoNW (%) | EPS (Rs.) |
|---|---|---|---|
| – | – | – | – |
| – | – | – | – |
#10. Medi Assist Healthcare Services Company Promoters
The company has three promoters as per the Draft Red Herring Prospectus (DRHP) and Red Herring Prospectus (RHP).
| Sr. No. | Name of Promoters |
|---|---|
| 01. | Dr. Vikram Jit Singh Chhatwal |
| 02. | Medimatter Health Management Private Limited |
| 03. | Bessemer India Capital Holdings II Limited |
#11. Medi Assist Healthcare Services IPO Pre-offer and Post-Offer Promoters Shareholding
| Promoters Holding | Percentage (%) |
|---|---|
| Pre-issue | 67.55 |
| Post-issue | 45.75 |
#12. Medi Assist Healthcare Services IPO Reservation Details
Medi Assist Healthcare Services’ IPO total reservation shares are distributed between the below-mentioned categories.
| Category | Share Offered |
|---|---|
| Retail Individual Investor (RII) | Not less than 35% of the issue size |
| QIB Shared Offered | Not more than 50% of issue size |
| NII (HNI) Shares Offered | Not less than 15% of the issue size |
#13. Medi Assist Healthcare Services IPO – Lot Size
An investor can apply for a minimum of 35 Shares in multiple thereof. Market lot sizes for the retail individual investors and non-institutional investor (NII)/ HNI investors are as follows:
| Application | Lot Size | No. of Shares | Amount (Rs.) |
|---|---|---|---|
| Retail (Min.) | 1 | 35 | 14,630 |
| Retail (Max.) | 13 | 455 | 1,90,190 |
| S-HNI (Min.) | 14 | 490 | 204,820 |
| S-HNI (Mix.) | 68 | 2,380 | 994,840 |
| B-HNI (Min.) | 69 | 2,415 | 1,009,740 |
#14. Medi Assist Healthcare Services IPO – Prospectus Copy
An investor can download/view the Medi Assist Healthcare Services IPO prospectus copy, which the company filed to SEBI, details are as follows.
| Medi Assist Healthcare Services IPO Prospectus |
|---|
| Draft Red Herring Prospectus (DHRP) |
| Red Herring Prospectus (RHP) |
#15. Medi Assist Healthcare Services IPO Registrar
Link Intime India Private Limited
Phone No.: +91-8108114949
E-Mail: medi.ipo@linkintime.co.in
Website: www.linkintime.co.in
#16. Medi Assist Healthcare Services IPO Lead Manager
# 1. Axis Capital Limited
# 2. IIFL Securities Limited
# 3. Nuvama Wealth Management Limited
# 4. SBI Capital Markets Limited
#17. Medi Assist Healthcare Services IPO Application (How to Apply for an IPO)
There are three primary options for applying for Medi Assist Healthcare Services IPO, details are as follows:
Option-1 Apply for IPO through Internet Banking
Step-1. Log into your bank account.
Step-2. In the invest Tab, you will see ASBA, click on it.
Step-3. Choose to apply for IPO and select the ongoing IPO “Medi Assist Healthcare Services Limited”
Step-4. Enter the basic details like bid quantity, price, PAN, etc. then proceed with payment.
Step-5. After the above steps, the respective amount will get blocked until the allotment date, and after that, it will get a refund/debited in case of rejection/allotment respectively.
Option-2 Apply for IPO through a Broker firm
Step-1. Log into your broker account (e.g. Upstox/Zerodha etc.)
Step-2. Click on the IPO tab and select the ongoing IPO “Medi Assist Healthcare Services Limited”
Step-3. Enter the basic details like bid quantity, price, PAN, etc. then enter UPI ID and proceed with payment.
Step-4. Your funds will get blocked, and once shares have been allotted to you, the respective amount will be debited from your account or refunded if no allotment is made to you.
Option-3 Apply for IPO Offline Mode Bank mode
Step-1. Visit the nearest branch of your bank.
Step-2. Fill out the ASBA form and submit it with KYC details.
Step-3. Your funds will get blocked, and once shares have been allotted to you, the respective amount will be debited from your bank account or refunded if no allotment is made to you.
#18. Medi Assist Healthcare Services Company Details
Medi Assist Healthcare Services Limited
Registered Office: Tower D, 4th Floor, IBC Knowledge Park, 4/1, Bannerghatta Road, Bengaluru 560029, Karnataka, INDIA
Phone No: +91-80-69190000
Email: investor.relations@mediassist.in
Website: www.mediassist.in
Investor Grievances/Compliance Officer: Simmi Singh Bisht
#19. Medi Assist Healthcare Services Subsidiary Companies (Top 2)
| Sr.No. | Name of Companies (Indian) |
|---|---|
| 01. | Medi Assist Insurance TPA Private Limited |
| 02. | Medvantage TPA Private Limited |
#20. Medi Assist Healthcare Services Company Board (Top 2)
| Sr. No. | Name of Directors |
|---|---|
| 01. | Dr. Vikram Jit Singh Chhatwal |
| 02. | Satish V.N. Gidugu |
Medi Assist Healthcare Services IPO – Frequently Asked Questions (FAQs)
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#1. What is Medi Assist Healthcare Services IPO? Medi Assist Healthcare Services brings its IPO of Rs.1,171.58 Crore, on January 15, 2024, with a price band of Rs.397 to Rs.418 per share. |
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#2. What is the Medi Assist Healthcare Services IPO Open date? Medi Assist Healthcare Services’s IPO opening date is January 15, 2024. |
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#3. What is the Medi Assist Healthcare Services IPO Close Date? Medi Assist Healthcare Services’s IPO closing date is January 17, 2024. |
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#4. What is the Medi Assist Healthcare Services IPO Listing date? Medi Assist Healthcare Services’s IPO listing date is January 22, 2024. |
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#5. What is the Medi Assist Healthcare Services IPO Minimum investment amount? Medi Assist Healthcare Services’s IPO minimum investment amount is Rs.14,630. |
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| #6. What is the Medi Assist Healthcare Services IPO offer issue Size?
Medi Assist Healthcare Services IPO offers an issue size of Rs.1,171.58 Crore. |
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| #7. What is the Medi Assist Healthcare Services IPO Price Band?
Medi Assist Healthcare Services’s IPO price band is Rs.397 to Rs.418 per share. |
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| #8. Is Medi Assist Healthcare Services mainboard IPO or SME IPO?
Medi Assist Healthcare Services is a mainboard IPO. |
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