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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 bidding started from January 15, 2024 and ended on January 17, 2024. The allotment for Medi Assist Healthcare IPO was finalized on Thursday, January 18, 2024. The shares got listed on BSE, NSE on January 23, 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 DRHP for detailed information.
| IPO Date | January 15, 2024 to January 17, 2024 |
| Listing Date | January 23, 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 of ₹5 (aggregating up to ₹1,171.58 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding post issue | 68,859,212 |
Medi Assist Healthcare IPO offers 28,028,168 shares. 5,605,634 (20.00%) to QIB, 4,204,226 (15.00%) to NII, 9,809,859 (35.00%) to RII and 8,408,449 (30.00%) to Anchor investors. 280,281 RIIs will receive minimum 35 shares and 2,860 (sNII) and 5,720 (bNII) will receive minimum 490 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 8,408,449 (30.00%) | NA |
| QIB Shares Offered | 5,605,634 (20.00%) | NA |
| NII (HNI) Shares Offered | 4,204,226 (15.00%) | |
| bNII > ₹10L | 2,802,817 (10.00%) | 5,720 |
| sNII < ₹10L | 1,401,409 (5.00%) | 2,860 |
| Retail Shares Offered | 9,809,859 (35.00%) | 280,281 |
| Total Shares Offered | 28,028,168 (100%) |
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) | February 17, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | April 17, 2024 |
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 | Tuesday, January 23, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 17, 2024 |
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 | |||
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% |
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'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 |
| Amount in ₹ Crore | ||||
The market capitalization of Medi Assist Healthcare IPO is Rs 2878.32 Cr.
| KPI | Values |
|---|---|
| ROCE | 24.95% |
| RoNW | 19.63 |
| P/BV | 0 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 10.94 | 13.15 |
| P/E (x) | 38.22 | 31.8 |
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.
[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...
The Medi Assist Healthcare IPO is subscribed 16.25 times on January 17, 2024 5:08:00 PM. The public issue subscribed 3.19 times in the retail category, 40.14 times in the QIB category, and 14.85 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 40.14 |
| NII | 14.85 |
| bNII (bids above ₹10L) | 17.22 |
| sNII (bids below ₹10L) | 10.12 |
| Retail | 3.19 |
| Total | 16.25 |
Total Application : 745,684 (2.66 times)
| Listing Date | January 23, 2024 |
| BSE Script Code | 544088 |
| NSE Symbol | MEDIASSIST |
| ISIN | INE456Z01021 |
| Final Issue Price | ₹418 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹418.00 |
| ₹465.00 |
| ₹446.00 |
| ₹509.60 |
| ₹464.25 |
| NSE |
|---|
| ₹418.00 |
| ₹460.00 |
| ₹445.00 |
| ₹518.00 |
| ₹464.10 |
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/
Link 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 IPO is a main-board IPO of 28,028,168 equity shares of the face value of ₹5 aggregating up to ₹1,171.58 Crores. The issue is priced at ₹397 to ₹418 per share. The minimum order quantity is 35 Shares.
The IPO opens on January 15, 2024, and closes on January 17, 2024.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Medi Assist Healthcare IPO using UPI as a payment gateway. Zerodha customers can apply in Medi Assist Healthcare IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Medi Assist Healthcare IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Medi Assist Healthcare IPO opens on January 15, 2024 and closes on January 17, 2024.
Medi Assist Healthcare IPO lot size is 35 Shares, and the minimum amount required is ₹14,630.
You can apply in Medi Assist Healthcare IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Medi Assist Healthcare IPO will be done on Thursday, January 18, 2024, and the allotted shares will be credited to your demat account by Friday, January 19, 2024. Check the Medi Assist Healthcare IPO allotment status.
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DRHP
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Rev : 125 ➡️166 cr
EBITDA : 31 ➡️34 cr
Margin : 24.8 ➡️20.4%
PAT : 21.5 ➡️21.2 cr