Medi Assist Healthcare Services
Medi Assist Healthcare Services Info
Details about the Medi Assist Healthcare Services IPO. Opening Date of Medi Assist Healthcare Services is 15 Jan 24 and Closing Date is 17 Jan 24 . Face Value of Each share of Medi Assist Healthcare Services is ₹5 per share. Price band of Medi Assist Healthcare Services is ₹397 to ₹418. The Lot size of Medi Assist Healthcare Services is 35 shares. Total issue size of Medi Assist Healthcare Services IPO is ₹1171.58 cr. Fresh Issue of Medi Assist Healthcare Services IPO is - cr. Medi Assist Healthcare Services IPO also includes offer for sale of ₹1,171.58 cr.This is a Book Building IPO. Expected to list on NSE & BSE. Share Holding Pre Issue of Medi Assist Healthcare Services is 68,859,212. Share Holding Post Issue of Medi Assist Healthcare Services is 68,859,212.
Business Summary
Medi Assist Healthcare Services Limited provides third-party administration services to insurance companies through its wholly-owned subsidiaries, including Medi Assist TPA, Medvantage TPA , and Raksha TPA. As a third-party administrator, the company processes health insurance claims and offers services such as policy administration, customer service, and network management.
As a third party administrator, Company act as a facilitator between (a) insurance companies and their policy holders, (b) insurance companies and healthcare providers (such as hospitals), and (c) the Government and beneficiaries of public health schemes.
Medi Assist TPA had a market share of 14.83% of the retail health insurance market and 41.71% of the group health insurance market, and a cumulative retail and group segment share of 33.67% serviced by third party administrators, as of Financial Year 2022
Comapany have developed a pan-India healthcare provider network which comprises 18,754 hospitals across 1,069 cities and towns and 31 states (including union territories) in India and network across 141 countries globally, as on September 30, 2023.
Comapany serviced over 9,500 group accounts across sectors to help administer the insurance requirements of their employees. As of March 31, 2023, Medi Assist TPA and Medvantage TPA managed around ₹128.18 billion of group health insurance premiums, representing 27.61% of India’s overall group health insurance market
Medi Assist Healthcare Services IPO Details
| Open Date | 15 Jan 24 |
|---|---|
| Close Date | 17 Jan 24 |
| Face Value | ₹5 per shares |
| Price Band | ₹397 - ₹418 |
| Lot Size | 35 Shares |
| Total issue Size | 28,028,168 Shares ₹1171.58 cr |
| Fresh Issue | [.] Shares |
| Offer for Sale | 28,028,168 Shares (₹1,171.58 cr) |
| Issue Type | Book Building |
| Listing At | NSE & BSE |
| Share Holding Pre Issue | 68,859,212 |
| Share Holding Post Issue | 68,859,212 |
| RHP , DHRP | View RHP, View DRHP |
Medi Assist Healthcare Services IPO Timeline
The Medi Assist Healthcare Services Initial Public Offering (IPO) is set to open on 15 Jan 24 and will end its subscription phase on 17 Jan 24. You can check your allotment status for Medi Assist Healthcare Services on 18 Jan 24. The refund process for your funds will start promptly on 19 Jan 24. Medi Assist Healthcare Services IPO credit of shares will be on 19 Jan 24. The listing date for Medi Assist Healthcare Services is on 22 Jan 24.
Open Date
Close Date
Basis Of Allotment
Initiation of Refund
Credit of Share
Listing Date
Medi Assist Healthcare Services IPO Reservation
The Medi Assist Healthcare Services IPO reserves shares for different investor categories. Approximately Not more than 50% of the Net Issue will be available for QIB, Not less than 15% of the Net Issue will be available for NII, Not less than 35% of the Net Issue will be available for Retail,
| Investor Category | Shares Offered |
|---|---|
| QIB | Not more than 50% of the Net Issue |
| NII | Not less than 15% of the Net Issue |
| Retail | Not less than 35% of the Net Issue |
Medi Assist Healthcare Services IPO Lot Size
Bids can be made for minimum of 35 shares and in multiple of 35 equity shares thereafter
| Application | Lot | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 33 | 13,794 |
| 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 Services IPO Promoters Holding
Promoters holding details for Medi Assist Healthcare Services in the current issue is as follows: The share holding of promoters before the issue stands at 67.55%, and after the issue, it has been adjusted to 45.75%.
Promoters of Medi Assist Healthcare Services are Dr Vikram Jit Singh Chhatwal, Medimatter Health Management Private Limited, Bessemer India Capital Holding II Ltd,
| Share Holding Pre Issue | 67.55% |
|---|---|
| Share Holding Post Issue | 45.75% |
Medi Assist Healthcare Services Financial Information
Financial performance details for Medi Assist Healthcare Services over the years are as follows: The table below presents key financial indicators, including Assets, Revenue, and Profit After Tax (PAT).
| Period | 30 Sept 23 | 31 Mar 23 | 31 Mar 22 | 31 Mar 21 |
|---|---|---|---|---|
| Assets | 802.62 | 705.72 | 602.23 | 545.3 |
| Revenue | 312.03 | 518.96 | 412.02 | 345.57 |
| Profit After Tax | 45.26 | 75.31 | 63.47 | 38.01 |
Medi Assist Healthcare Services IPO Key Performance Indicator
Key Performance Indicators (KPIs) for Medi Assist Healthcare Services are outlined below. Monitoring these KPIs provides insights into the company's operational and strategic performance. The table presents various performance indicators along with their corresponding values.
| KPI | Value |
|---|---|
| P/E (x) | 38.22 |
| ROCE | 24.95% |
| RoNW | 19.63% |
| EPS (Rs) | 10.94 |
Object of the Issue
- • The objects of the Offer are to achieve the benefits of listing the Equity Shares on the Stock Exchanges and for the Offer for Sale of up to 28,028,168 Equity Shares
- • Company expects that listing of the Equity Shares will enhance the visibility and brand and provide liquidity to its existing Shareholders. Listing will also provide a public market for the Equity Shares in India. 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
Contact Details for Medi Assist Healthcare Services
Phone
Office
Tower D, 4th floor, IBC Knowledge Park, 4/1 Bannerghatta Road Bengaluru 560 029, Karnataka, India
Registrar Details for Medi Assist Healthcare Services
Link Intime India Private Ltd
Phone
Office
Selenium, Tower B, Plot No –31 and 32, Financial DistrictNanakramguda, SerilingampallyHyderabad, Rangareddi 500 032Telangana, India
Lead Manager
- • Axis Bank Limited
- • Iifl Securities Ltd
- • Nuvama Wealth Management Ltd
- • SBI Capital Markets Limited