Medi Assist Healthcare Services IPO Price: ₹397 - ₹418
IPO Date Range: Jan 15, 2024 - Jan 17, 2024
Established in June 2002, Medi Assist Healthcare Services Limited operates as a health-tech and insurance-tech enterprise, specializing in administering health benefits for employers, retail members, and public health schemes, with a primary focus on servicing insurance companies.
Medi Assist provides medical insurance and facilitates cashless hospitalization via its extensive network of healthcare service providers. Its role extends as a mediator among various parties: between general and health insurance firms and their insured members; insurance companies and healthcare providers like hospitals; and the government and beneficiaries of public health schemes.
Additionally, the company offers an array of healthcare and ancillary services, including hospitalization, call center operations, customer relations, contract management, billing, and claims processing services through its main entity and subsidiary operations.
As of March 31, 2023, Medi Assist Healthcare had partnered with 36 insurance companies both in India and globally. By the same date, the company had built an extensive healthcare network spanning India, encompassing over 14,000 hospitals located in 967 cities and towns spread across 32 states and union territories. Throughout the fiscal year 2023, the company successfully resolved 5.27 million claims, which included 2.44 million in-patient claims and 2.83 million out-patient claims.
| IPO Date | January 15, 2024 to January 17, 2024 |
| Listing Date | Monday, January 22, 2024 |
| Face Value | ₹5 per share |
| Price Band | ₹397 to ₹418 per share |
| Lot Size | 35 shares |
| Total Issue Size | 28,028,168 shares (aggregating up to ₹1,171.58 Cr) |
| Offer For Sale | 28,028,168 shares (aggregating up to ₹1,171.58 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 68,859,212 |
| Share holding post issue | 68,859,212 |
Investors have the option to bid for a minimum of 35 shares, and they can bid in multiples of this amount. The table below outlines the minimum and maximum investment amounts for retail investors and HNIs, both in terms of shares and total value.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 35 | ₹14,630 |
| 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 |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
| IPO Open Date | Monday, January 15, 2024 |
| IPO Close Date | Wednesday, January 17, 2024 |
| Basis of Allotment | Thursday, January 18, 2024 |
| Initiation of Refunds | Friday, January 19, 2024 |
| Credit of Shares to Demat | Friday, January 19, 2024 |
| Listing Date | Monday, January 22, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 17, 2024 |
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Between the fiscal years ending March 31, 2023, and March 31, 2022, Medi Assist Healthcare Services Limited experienced a 25.95% rise in revenue and a 15.3% increase in profit after tax (PAT).
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 | 30 Sep 2023 |
|---|---|---|---|---|
| Assets | 545.30 | 602.23 | 705.72 | 802.62 |
| Revenue | 345.57 | 412.02 | 518.96 | 312.03 |
| Profit After Tax | 26.27 | 64.22 | 74.04 | 22.49 |
| Net Worth | 292.55 | 339.29 | 383.67 | 416.64 |
| Reserves & Surplus | 295.81 | 308.63 | 353.86 | 102.03 |
| KPI | Values |
|---|---|
| P/E (x) | 38.87 |
| Market Cap (₹ Cr.) | 2878.32 |
| ROCE | 24.95% |
| EPS (Rs) | 10.75 |
| RoNW | 19.63% |
The Offer's objective is to list Equity Shares on Stock Exchanges, anticipating enhanced visibility, brand recognition, and liquidity for existing Shareholders. This listing will establish a public market for the Equity Shares in India. The company won't gain from the Offer; proceeds will solely benefit Selling Shareholders, proportionate to their offered Equity Shares.
Prospectus: Official documents that provide detailed information about the IPO and the company. Medi Assist Healthcare Services DRHP and Medi Assist Healthcare Services IPO RHP.
An IPO, or Initial Public Offering, is the process by which a private company offers its shares to the public for the first time to raise capital.
Companies go public to raise capital for expansion, reduce debt, or for other corporate purposes. It also provides liquidity to existing shareholders.
The price range for the"Medi Assist Healthcare Services Limited" IPO is ₹397 to ₹418 per share.
The "Medi Assist Healthcare Services Limited" IPO is expected to be listed on Monday, 22 January 2024.
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