Medi Assist Healthcare Services Limited is a health-tech and insurance-tech company that manages health benefits for employers, retail members, and public health schemes, primarily serving insurance companies.
Medi Assist offers medical insurance and cashless hospitalization through a network of healthcare service providers.
The company also acts as a mediator between:
- General and health insurance companies and their insured members
- Insurance companies and healthcare providers (such as hospitals), and
- The Government and beneficiaries of public health schemes.
Medi Assist Healthcare collaborated with 36 insurance companies in India and worldwide as of March 31, 2023.
The revenue generated by the retail portfolio for the financial years 2021, 2022, and 2023 was ₹494.68 million, ₹579.84 million, and ₹570.29 million, respectively. These amounts constituted 15.33%, 14.72%, and 11.29% of the total revenue from customer contracts for the same years.
As of March 31, 2023, the company has established a healthcare network across India, with over 14,000 hospitals in 967 cities and towns in 32 states and union territories.
During FY2023, the company settled 5.27 million claims, comprising 2.44 million in-patient claims and 2.83 million out-patient claims.
Medi Assist Healthcare IPO – Details
| IPO Opening Date | 15 January 2024 |
| IPO Closing Date | 17 January 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 2,80,28,168 Shares Worth ₹1171.58 Crore Offer For Sale: 2,80,28,168 Shares Worth ₹1171.58 Crore |
| Face Value | ₹5 per equity share |
| IPO Price | ₹397 – ₹418 |
| Market Lot | 35 Shares |
| Min Order | 35 Shares |
| Listing At | BSE, NSE |
| Register | Link Intime India Private Ltd |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Medi Assist Healthcare IPO – Date Schedule
| IPO Open Date | 15 January 2024 |
| IPO Close Date | 17 January 2024 |
| Basis of Allotment Date | 18 January 2024 |
| Initiation of Refund | 19 January 2024 |
| Credit of Shares to Demat Account | 19 January 2024 |
| IPO Listing Date | 22 January 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on 17 January 2024 |
Medi Assist Healthcare IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 35 | 14,630 |
| Retail (Max) | 13 | 442 | 1,90,190 |
| S-HNI (Min) | 14 | 476 | 2,04,820 |
| S-HNI (Max) | 68 | 2312 | 9,94,840 |
| B-HNI (Min) | 69 | 2346 | 10,09,470 |
Competitive Strengths
- Largest health benefits administrator in India;
- Scalable technology-enabled infrastructure addressing the needs of all constituents of the health insurance ecosystem;
- Longstanding relationships with a majority of indian insurance companies;
- Diversified base of Group Accounts with longstanding relationships;
- Attractive contracts with a pan-india healthcare provider network;
- The Ability to Integrate Acquisitions; and
- Experienced management team and marquee shareholders.
Company Promoters
- Dr Vikram Jit Singh Chhatwal
- Medimatter Health Management Private Limited
- Bessemer India Capital Holding II Ltd
Company Financials (Restated Consolidated)
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2021 | 345.57 | 284.53 | 26.27 | – |
| 31 March 2022 | 412.02 | 333.94 | 64.21 | – |
| 31 March 2023 | 518.95 | 415.34 | 74.04 | – |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROCE | 24.95% |
| EPS (Rs) | 10.65 |
| RoNW | 19.63 |
Object Of The Issue
- The object of the Offer is 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 Peer Comparison
- There are no listed companies in India that engage in a business similar to Medi Assist Healthcare Services Limited.
Medi Assist Healthcare IPO Promoter Holding
| Pre Issue Share Holding | 77.14% |
| Post Issue Share Holding | 45.75% |
Medi Assist Healthcare IPO Prospectus
Company Contact Information
| Medi Assist Healthcare Services Limited Tower D, 4th floor, IBC Knowledge Park 4/1 Bannerghatta Road Bengaluru 560 029 Phone: (+91 80) 6919 0000 Email: investor.relations@mediassist.in Website: https://mediassist.in/ |
Medi Assist Healthcare IPO Registrar
| Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: medi.ipo@linkintime.co.in Website: https://linkintime.co.in/mipo/ipoallotment.html |
Medi Assist Healthcare IPO Lead Manager(s)
| 1. Axis Bank Limited 2. IIFL Securities Ltd 3. Nuvama Wealth Management Limited 4. SBI Capital Markets Limited |
Medi Assist Healthcare IPO FAQs
| What is Medi Assist Healthcare IPO? Medi Assist Healthcare IPO is a main-board IPO. The issue is priced at ₹397 to ₹418 per equity share. The IPO is to be listed on BSE & NSE. |
| When Medi Assist Healthcare IPO will open? The IPO is to open on 15 January 2024 for QIB, NII, and Retail Investors. |
| What is Medi Assist Healthcare IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Medi Assist Healthcare IPO? You can apply Medi Assist Healthcare IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Medi Assist Healthcare IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Medi Assist Healthcare”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Medi Assist Healthcare IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Medi Assist Healthcare“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Medi Assist Healthcare IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Medi Assist Healthcare”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Medi Assist Healthcare IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Medi Assist Healthcare”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Medi Assist Healthcare IPO Size? Medi Assist Healthcare IPO size is ₹1171.58 Crore. |
| What is Medi Assist Healthcare IPO Price Band? Medi Assist Healthcare IPO Price Band is ₹397 to ₹418. |
| What is Medi Assist Healthcare IPO Minimum and Maximum Lot Size? The minimum bid is 35 Shares with ₹14,630 amount while the maximum bid is 442 Shares with ₹1,90,190. |
| What is the Medi Assist Healthcare IPO Allotment Date? Medi Assist Healthcare IPO allotment date is 18 January 2024. |
| What is the Medi Assist Healthcare IPO Listing Date? Medi Assist Healthcare IPO listing date is 22 January 2024. The IPO is to list on BSE and NSE. |
