Medi Assist Healthcare Services Limited IPO
MainboardInsurance Distributors
Listed On: Jan 23, 2024 at ₹ 460.0(NSE)
₹ 14630 /35 Shares
Check AllotmentPrice Summary
Last Closing
477.50 (14.23%)52 Week High
716.1552 Week Low
415.25Last Update
20-Jun-2025 3:30 PM15 Jan, 2024
Open Date17 Jan, 2024
Close Date18 Jan, 2024
Allotment Date23 Jan, 2024
Listing DateIssue Price
₹397-418 per equity shareFace Value
₹5 Per Equity ShareListing at Group
BSE, NSERegistrar
Link Intime India Private LtdList Price
460.0(NSE)Listing Date
2024-01-23Market Lot
Retail : 35 Shares (₹14,630/-)S-HNI : 490 Shares (₹2,04,820/-)
B-HNI : 2,415 Shares (₹10,09,470/-)
Lead Manager
Axis Bank LimitedIifl Securities Ltd
Nuvama Wealth Management Limited
SBI Capital Markets Limited
Issue Size
OFS : 28,028,168 shares(aggregating up to ₹1171.58 Cr)Retail Portion
35% (Number of Retail Applications: 2,80,280 Approx),(Number of S-HNI Applications : 2,860 Approx),
(Number of B-HNI Applications : 5,720 Approx)
Subscription
16.25 timesMedi 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.
an 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.
Medi Assist Healthcare Services Limited IPO Subscription Details
| 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 |
Medi Assist Healthcare Services Limited Valuations
EPS Pre IPO
₹10.94/-EPS Post IPO
₹13.15/-P/E Pre IPO
38.22P/E Post IPO
31.8ROCE
24.95%RoNW
19.63%Medi Assist Healthcare Services Limited Company Financials All values are 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 The 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.
Medi Assist Healthcare Services Limited - Promoter(s)
Pre Issue Share Holding: 67.55%
Post Issue Share Holding: 45.75%
- Dr Vikram Jit Singh Chhatwal
- Medimatter Health Management Private Limited
- Bessemer India Capital Holding II Ltd
Medi Assist Healthcare Services Limited IPO - Issue Objectives
- 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
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.
Other Details
Medi Assist Healthcare Services Limited
Tower D, 4th floor, IBC Knowledge Park, 4/1 Bannerghatta Road, Bengaluru 560 029Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: medi.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Medi Assist Healthcare Services Limited IPO - FAQs
Ans. Medi Assist Healthcare Services Limited IPO is a Mainboard IPO. The issue is priced at ₹397-418 per equity share. The minimum order quantity is 35 Shares. The IPO opens on Jan 15, 2024, and closes on Jan 17, 2024. Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Ans. The Medi Assist Healthcare Services Limited IPO opens on Jan 15, 2024 and closes on Jan 17, 2024.
Ans. The size of Medi Assist Healthcare Services Limited IPO is OFS : 28,028,168 shares(aggregating up to ₹1171.58 Cr).
Ans. The IPO price band is set between ₹397-418 per equity share.
Ans. To apply for Medi Assist Healthcare Services Limited IPO IPO, follow the steps given below:
- - Open the IPO Ji App or Website
- - Find Medi Assist Healthcare Services Limited IPO in the List of IPOs
- - Press "Apply" Button
- - Select Your Demat Account
- - Select Your Shares Quantity and Submit
- - Track Your IPO Status
Ans. The share allotment date of Medi Assist Healthcare Services Limited IPO is Jan 18, 2024.
Ans. The Medi Assist Healthcare Services Limited IPO will be listed on Jan 23, 2024.
Ans. Follow the steps to check the allotment status for Medi Assist Healthcare Services Limited IPO here.
