IPO

Medi Assist Healthcare Services Limited IPO

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Insurance Distributors

Listed On: Jan 23, 2024 at ₹ 460.0(NSE)

₹ 14630 /35 Shares

Check Allotment

15 Jan, 2024

Open Date

17 Jan, 2024

Close Date

18 Jan, 2024

Allotment Date

23 Jan, 2024

Listing Date
Price Summary

Last Closing

440.00 (5.26%)

52 Week High

629.60

52 Week Low

415.25

Last Update

19-Dec-2025 3:30 PM
Medi Assist Healthcare Services Limited IPO Issue Details
  • Issue Price ₹397-418 per equity share
  • Face Value ₹5 Per Equity Share
  • Total Issue Size 2,80,28,168 shares(aggregating up to ₹1171.58 crore)
  • Offer For Sale 2,80,28,168 shares(aggregating up to ₹1171.58 crore)
  • Listing at BSE, NSE
  • List Price 460.0(NSE)
  • Listing Date 2024-01-23
  • Lead Manager Axis Bank Limited
    Iifl Securities Ltd
    Nuvama Wealth Management Limited
    SBI Capital Markets Limited
  • Registrar Link Intime India Private Ltd
Market Lot Size

Investors can bid for a minimum of 35 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (min) 1 35 ₹14,630
Retail(max) 13 455 ₹1,90,190
SHNI(min) 14 490 ₹2,04,820
SHNI(max) 68 2,380 ₹9,94,840
BHNI(min) 69 2,415 ₹10,09,470
Medi Assist Healthcare Services Limited IPO Reservation

Medi Assist Healthcare Services Limited IPO offers total 28,028,168 shares. Out of which 5,605,634 (20%) allocated to QIB, 4,204,226 (15%) allocated to NII,9,809,859 (35%) allocated to RII, NA (NA%) allocated to employees and 8,408,449 (30%) allocated to Anchor investors.

Investor Category Shares Offered Maximum Allottees
Anchor Investor Shares Offered 8,408,449 (30%)
QIB Shares Offered 5,605,634 (20%)
NII (HNI) Shares Offered 4,204,226 (15%)
bNII > ₹10L 2,802,817 (10%)
sNII < ₹10L 1,401,409 (5%)
Retail Shares Offered 9,809,859 (35%)
Total Shares Offered 28,028,168 (100%)
Medi Assist Healthcare Services Limited IPO Documents
DRHP
RHP
ANCHOR
Medi Assist Healthcare Services Limited IPO Details


Medi Assist Healthcare Services Limited IPO is a book-built issue of ₹1171.58 crores, The total issue size is ₹1171.58 crores. The IPO of Medi Assist Healthcare Services Limited is priced at ₹397-418 per equity share, which has a face value of ₹5 Per Equity Share each, IPO bidding starts from Jan 15, 2024 and ends on Jan 17, 2024. The allotment for Medi Assist Healthcare Services Limited IPO will be finalized on Jan 18, 2024. Medi Assist Healthcare Services Limited IPO will be listed on BSE, NSE, with a tentative listing date fixed as Jan 23, 2024. The company shall list its equity shares on the BSE, NSE. Link Intime India Private Ltd is the registrar of the issue.

Retail investors can bid for a minimum of 35 shares, extendable to 14,630. S-HNIs will be able to bid for 490 shares at ₹2,04,820, while B-HNIs can also apply for a bid of 2,415 shares at ₹10,09,470. The book-running lead manager for the IPO is/are Axis Bank Limited, Iifl Securities Ltd, Nuvama Wealth Management Limited, SBI Capital Markets Limited.

The total issue ₹1171.58 crore and having Offer for Sale (OFS) of 2,80,28,168 shares to mop up ₹1171.58 crore.

The Medi Assist Healthcare Services Limited IPO sets its price band at 397-418 for each share. A single application for Medi Assist Healthcare Services Limited IPO must contain at least 35 shares. Sentiment investors need to invest a minimum of 35 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,630 In order to participate in the sNII, investors must purchase at least 14 lots of 490 shares for ₹2,04,820, while the bNII requires 69 lots of 2,415 shares for an investment of ₹10,09,470.

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Medi Assist Healthcare Services Limited IPO Subscription Analysis And Details
Retail
3.18x
QIB
40.14x
NII
14.85x
bNII
17.22x
sNII
10.11x
Total
16.25x
As on QIB NII
bNII   sNII 		Retail Total
Shares Offered / Reserved 5,605,634 4,204,226
2,802,817    1,401,409 		9,809,859 19,619,719
Day 1 15-01-24 05:00 PM
0.00 x 0.45
0.36 x   0.62 x 		0.89 x 0.54 x
Day 2 16-01-24 05:00 PM
0.01 x 1.60
1.55 x   1.69 x 		1.69 x 1.19 x
Day 3 17-01-24 05:00 PM
40.14 x 14.85
17.22 x   10.11 x 		3.18 x 16.25 x
Total No of Applications
695,647
Medi Assist Healthcare Services Limited Valuations
EPS Pre IPO ₹10.94/-
EPS Post IPO ₹13.15/-
P/E Pre IPO 38.22
P/E Post IPO 31.8
ROCE 24.95%
RoNW 19.63%
Medi Assist Healthcare Services Limited Company Financials
In Crs.
In Cr.
31-Mar-23 31-Mar-22 31-Mar-21
Assets 705.72 602.23 545.30
Revenue 518.96 412.02 345.57
Profit After Tax 74.04 64.22 38.01
Net Worth 383.67 339.29 292.55
Reserves & Surplus 353.86 308.63 295.81
About Medi Assist Healthcare Services Limited Company

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. However, the company also acts as a mediator between (a) general and health insurance companies and their insured members, (b) insurance companies and healthcare providers (such as hospitals), and (c) 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.

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Medi Assist Healthcare Services Limited - Promoter(s)

Dr Vikram Jit Singh Chhatwal

Medimatter Health Management Private Limited

Bessemer India Capital Holding II Ltd

Pre Issue Share Holding : 67.55%

Post Issue Share Holding : 45.75%

Medi Assist Healthcare Services Limited IPO - Issue Objectives
1

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 Services Limited IPO - Anchor Investors

Medi Assist Healthcare Services IPO: Anchor investors buy Rs 351 crore of shares.

Marquee names in the list of anchor investors included Nomura Trust, Goldman Sachs, Ashoka Whiteoak, Pinebridge Global Funds, Troo Capital, and HSBC.

Further, HDFC Mutual Fund, Kotak Mahindra Trustee, Aditya Birla Sun Life Trustee, SBI Life Insurance Company, Mirae Asset, Canara Robeco Mutual Fund, Tata Mutual Fund, Sundaram Mutual Fund, Bandhan Mutual Fund, Edelweiss Trusteeship, Bajaj Allianz Life Insurance Company, Max Life Insurance Company and SBI General Insurance Company among domestic investors also participated in the anchor book, which was launched for a day on January 12.

Contact Details

Medi Assist Healthcare Services Limited

Tower D, 4th floor, IBC Knowledge Park, 4/1 Bannerghatta Road, Bengaluru 560 029

+91 80 6919 0000

investor.relations@mediassist.in

https://mediassist.in/

Registrar Contact Details

Link Intime India Private Ltd

+91-22-4918 6270

medi.ipo@linkintime.co.in

https://linkintime.co.in/Initial_Offer/public-issues.html