Medi Assist Healthcare Services Limited IPO

15 Jan 2024 - 17 Jan 2024 Individual Category IPO NSE

Min Investment

₹27790

Price Band

₹397-₹418

Issue Size

280.28 lakhs
Equity Shares

Lot Size

35 (per lot)

IPO Dates
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15 Jan 2024

Open Date

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17 Jan 2024

Close Date

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18 Jan 2024

Allotment Date

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22 Jan 2024

Listing Date

The Initial Public Offering (IPO) of Medi Assist Healthcare is structured as a book-built issue comprising 2.8 crore shares, entirely represented by an offer for sale of the same number. The IPO dates for Medi Assist Healthcare, scheduled from January 15, 2024, to January 17, 2024. Additionally, the price bands for the IPO are ₹397 to ₹418 per share. The IPO is managed by Axis Bank Limited, Iifl Securities Ltd, Nuvama Wealth Management Limited, and SBI Capital Markets Limited as the book-running lead managers. Link Intime India Private Ltd has been appointed as the registrar for this public offering.

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About Medi Assist Healthcare Services Limited Ipo

Founded in June 2002, Medi Assist Healthcare Services Limited operates as a health-tech and insurance-tech enterprise, focusing on managing health benefits for various groups, including employers, retail members, and public health scheme participants, primarily catering to insurance companies. Medi Assist’s services encompass offering medical insurance and facilitating cashless hospitalisation through an extensive network of healthcare providers. The company plays a pivotal role in connecting: General and health insurance companies with their insured members. Insurance companies with healthcare providers like hospitals. The Government with public health scheme beneficiaries. As of March 31, 2023, Medi Assist Healthcare has partnered with 36 insurance companies in India and globally. Financially, the retail portfolio of Medi Assist Healthcare contributed Rs 494.68 million, Rs 579.84 million, and Rs 570.29 million to the revenue for the fiscal years 2021, 2022, and 2023, respectively. These figures accounted for 15.33%, 14.72%, and 11.29% of the total revenue from customer contracts in those respective years. As of March 31, 2023, Medi Assist Healthcare has established a significant healthcare network in India, encompassing over 14,000 hospitals across 967 cities and towns in 32 states and union territories. In the fiscal year 2023, the company successfully processed 5.27 million claims, which included 2.44 million in-patient claims and 2.83 million out-patient claims.

Founded

2002

Managing Director

Parent Organization

IPO Objectives

The primary goal of this offering is to gain the advantage of having the company’s Equity Shares listed on the Stock Exchanges. The company anticipates that this listing will increase its brand recognition and visibility while offering liquidity to its current shareholders. Furthermore, the listing is expected to establish a public market for Equity Shares within India. It’s important to note that the company will not gain any financial proceeds from this offering. Instead, all proceeds generated from the Offer will be distributed to the Selling Shareholders relative to the proportion of Equity Shares they have put up in this Offer for Sale.

Company Promoters

Subscription Details

Investor Category Subscription (times)
Qualified Institutions 0
Non-Institutional Buyers 0
bNII (bids above ₹10L) 0
sNII (bids below ₹10L) 0
Retail Investors 0
Employees 0
Others 0
Total 0
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