Medi Assist Healthcare IPO is a book built issue of Rs 1,171.58 crores. The issue is entirely an offer for sale of 2.8 crore shares.
Medi Assist Healthcare IPO opens for subscription on January 15, 2024 and closes on January 17, 2024. The allotment for the Medi Assist Healthcare IPO is expected to be finalized on Thursday, January 18, 2024. Medi Assist Healthcare IPO will list on BSE, NSE with tentative listing date fixed as Monday, January 22, 2024.
Medi Assist Healthcare IPO price band is set at ₹397 to ₹418 per share. The minimum lot size for an application is 35 Shares. The minimum amount of investment required by retail investors is ₹14,630. The minimum lot size investment for sNII is 14 lots (490 shares), amounting to ₹204,820, and for bNII, it is 69 lots (2,415 shares), amounting to ₹1,009,470.
Axis Bank Limited, Iifl Securities Ltd, Nuvama Wealth Management Limited and SBI Capital Markets Limited are the book running lead managers of the Medi Assist Healthcare IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Medi Assist Healthcare IPO RHP for detailed information.
Medi Assist Healthcare IPO Details
| IPO Date | January 15, 2024 to January 17, 2024 |
| Listing Date | [.] |
| 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 of ₹5 (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 |
Medi Assist Healthcare IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| 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 |
Medi Assist Healthcare IPO Anchor Investors Details
Medi Assist Healthcare IPO raises Rs 351.47 crore from anchor investors. Medi Assist Healthcare IPO Anchor bid date is January 12, 2024. Medi Assist Healthcare IPO Anchor Investors list
| Bid Date | January 12, 2024 |
| Shares Offered | 8,408,449 |
| Anchor Portion Size (In Cr.) | 351.47 |
| Anchor lock-in period end date for 50% shares (30 Days) | March 1, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | June 3, 2024 |
Medi Assist Healthcare IPO Timeline (Tentative Schedule)
Medi Assist Healthcare IPO opens on January 15, 2024, and closes on January 17, 2024.
| 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 |
Medi Assist Healthcare IPO Lot Size
Investors can bid for a minimum of 35 shares and in multiples thereof. The below 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 | ₹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 |
| Lot Size Calculator | |||
Medi Assist Healthcare IPO Promoter Holding
The promoters of the Company are Dr Vikram Jit Singh Chhatwal, Medimatter Health Management Private Limited and Bessemer India Capital Holding II Ltd.
| Share Holding Pre Issue | 67.55% |
| Share Holding Post Issue | 45.75% |
About Medi Assist Healthcare Services Limited
Incorporated in June 2002, 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 Financial Information (Restated Consolidated)
Medi Assist Healthcare Services Limited’s revenue increased by 25.95% and profit after tax (PAT) rose by 18.66% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 802.62 | 705.72 | 602.23 | 545.30 |
| Revenue | 312.03 | 518.96 | 412.02 | 345.57 |
| Profit After Tax | 45.26 | 75.31 | 63.47 | 38.01 |
| Net Worth | 416.64 | 383.67 | 339.29 | 292.55 |
| Reserves and Surplus | 102.03 | 353.86 | 308.63 | 295.81 |
| Total Borrowing | ||||
| Amount in ₹ Crore | ||||
Key Performance Indicator
The market capitalization of Medi Assist Healthcare IPO is Rs 2878.32 Cr.
| KPI | Values |
|---|---|
| ROCE | 24.95% |
| RoNW | 19.63 |
| P/BV | 0 |
Check Medi Assist Healthcare IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 10.75 | 6.53 |
| P/E (x) | 38.87 | 64 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2023 that is available in RHP.
Objects of the Issue (Medi Assist Healthcare IPO 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 IPO Review (Apply)
[Dilip Davda] The company is a unique player in third party administration business in the insurance segment and its scope is widening with more health care business is being inked with rising awareness. The company will be back on track once all recent acquisition settlements are in place. Post listing, this company will attract fancy as the first mover in the segment. Investors may park funds for the medium to long term rewards in this sunrise industry. Read detail review…
Medi Assist Healthcare Services Limited Contact Details
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