Medi Assist Healthcare Services Limited IPO
- IPO Date15 Jan, 2024 to 17 Jan, 2024
- Listing Date23 Jan, 2024
- Face Value₹5 per share
- Issue Price₹397 to ₹418 per share
- Lot Size35 Shares
- Minimum Investment₹14,630
- Listing AtBSE, NSE
- Total Issue Size2,80,28,168 Shares
(aggregating up to ₹1171.58 Cr) - Fresh Issue2,80,28,168 Shares
(aggregating up to ₹1171.58 Cr)
- Offer for Sale-
- Issue TypeBook Built Issue IPO
- Share holding pre issue6,88,59,212
- Shareholding post issue6,88,59,212
IPO Dates
Closing Date
17 Jan, 2024
Initiation of Refunds
19 Jan, 2024
Listing Date
22 Jan, 2024
15 Jan, 2024
Opening Date
18 Jan, 2024
Basis of Allotment
19 Jan, 2024
Credit of Shares
Medi Assist Healthcare Services Limited 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 (Max) | 13 | 455 | ₹1,90,190 |
| Retail (Min) | 1 | 35 | ₹14,630 |
| B-HNI (Min) | 69 | 2415 | ₹10,09,470 |
| S-HNI (Min) | 14 | 490 | ₹2,04,820 |
| S-HNI (Max) | 68 | 2380 | ₹9,94,840 |
Medi Assist Healthcare Services Limited 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.
| Pre Issue Share Holding | Post Issue Share Holding |
|---|---|
| 67.55% | 45.75% |
Medi Assist Healthcare Services Limited COMPANY INFORMATION
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 is open for subscription on January 15, 2024 and close today 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.
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.
FAQs About Medi Assist Healthcare Services Limited Ipo
Medi Assist Healthcare Services Limited IPO will open on 15 Jan, 2024 and close on 17 Jan, 2024. Investors must apply within this period to participate.
The Medi Assist Healthcare Services Limited IPO price band is set between ₹397.00 and ₹418.00 per share. The minimum lot size is 35, requiring an investment of at least ₹14630.00.
The Medi Assist Healthcare Services Limited IPO shares are expected to be listed on 23 Jan, 2024, subject to regulatory approvals and final allotment.
You can track your Medi Assist Healthcare Services Limited IPO application status on the registrar’s website: Link Intime or KFintech using your PAN, application number, or DP ID
The Medi Assist Healthcare Services Limited IPO will be listed on major stock exchanges such as NSE and BSE, where you can trade shares once they are listed.