Medi Assist Healthcare IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Jan 12, 2024The upcoming IPO of Medi Assist Healthcare Services represents a significant opportunity in India’s healthcare insurance sector.
As the company makes its second attempt at going public, it highlights the growing importance of healthcare insurance in India. potential investors should closely monitor the IPO’s details, including pricing, subscription levels, and the overall market conditions.
The IPO’s success will hinge on investor sentiment and market dynamics. While it aligns with India’s evolving healthcare landscape, making an informed investment decision is crucial. Here is everything you need to know Medi Assist Healthcare Services IPO.
| Face Value | Rs 5 |
| Price Band | Rs 397 to Rs 418 |
| Listing At | BSE, NSE |
| Min. Order Quantity | 35 Shares |
| Listing Date | January 22, 2024 |
| Offer for Sale | Rs 1,171.58 Crore |
| Fresh Issue | Rs NA Crore |
| IPO Size | Rs 1,171.58 Crore |
| Tick Size | 1 |
Medi Assist Healthcare IPO Overview
Medi Assist Healthcare Services, a prominent player in the Indian healthcare insurance sector, has taken another significant step towards going public by filing its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI).
This marks the company’s second attempt to initiate an initial public offering (IPO), with the previous endeavour being postponed due to challenging market conditions brought about by the COVID-19 pandemic.
The core component of Medi Assist Healthcare Services IPO is an “offer for sale” (OFS), involving the sale of up to 2.8 crore equity shares of Medi Assist by its promoters and existing shareholders.
It’s important to note that, as an OFS, the company itself will not receive any proceeds from this IPO. Instead, all the funds raised will be directed towards the selling shareholders, which include notable entities and individuals like Vikram Jit Singh Chhatwal, Medimatter Health Management, Bessemer India Capital Holdings II Ltd, Bessemer Health Capital LLC, and Investcorp Private Equity Fund I.
To facilitate this significant financial move, Medi Assist has enlisted the services of well-established merchant bankers. Axis Capital, Nuvama Wealth Management, IIFL Securities, and SBI Capital Markets have been appointed to advise the company on the IPO, underscoring the commitment to ensuring a successful listing.
Medi Assist’s decision to go public is driven by several strategic objectives. Firstly, it aims to leverage the benefits of having its equity shares listed on the stock exchanges.
This move provides increased visibility and access to capital markets, potentially attracting a broader investor base. Additionally, going public will enable the company to carry out the OFS, which aligns with the interests of the selling shareholders.
Medi Assist Healthcare IPO Important Dates
| Events | Date |
| IPO Opening Date | January 15, 2024 |
| IPO Closing Date | January 17, 2024 |
| Basis of Allotment Finalization | January 18, 2024 |
| Refunds Initiation | January 19, 2024 |
| Credit of Shares to Demat Account | January 19, 2024 |
| Share Listing Date | January 22, 2024 |
The Medi Assist Healthcare Services IPO important dates are yet to be officially revealed. These dates, including the opening and closing of subscription, share allotment, and listing, play a pivotal role for investors.
As the IPO generates substantial interest, staying informed through official announcements from the company and regulatory bodies like SEBI is essential. Investors should monitor updates closely to plan their participation effectively.
In the meantime, researching the company’s financials and growth prospects will help investors make informed decisions when the IPO dates are disclosed. This IPO highlights the growing significance of the Indian healthcare insurance sector for investors.
Medi Assist Healthcare IPO Price, Size, Share Offerings
| Face Value | Rs 5 |
| Price Band | Rs 397 to Rs 418 |
| Offer for Sale | Rs 1,171.58 Crore |
| Fresh Issue | Rs NA Crore |
| IPO Size | Rs 1,171.58 Crore |
Medi Assist Healthcare Services, a prominent player in India’s healthcare insurance sector, has initiated its second attempt at an initial public offering (IPO) by filing a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI).
This IPO revolves around a Medi Assist Healthcare Services IPO share offering involving the sale of up to 2.8 crore equity shares by the company’s promoters and existing shareholders. Notably, all proceeds from this OFS will go to the selling shareholders, including entities like Vikram Jit Singh Chhatwal, Medimatter Health Management, Bessemer India Capital Holdings II Ltd, Bessemer Health Capital LLC, and Investcorp Private Equity Fund I.
Medi Assist has enlisted the expertise of well-established merchant bankers, including Axis Capital, Nuvama Wealth Management, IIFL Securities, and SBI Capital Markets, to advise on the IPO.
The company’s decision to go public is driven by a strategic aim to leverage the benefits of a stock exchange listing, which can enhance visibility and access to capital markets, potentially attracting a broader investor base. Additionally, it enables the company to fulfil the interests of its selling shareholders through the OFS.
Medi Assist Healthcare IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| 12 Jan 2024 | Rs 65 | NA | NA |
| 11 Jan 2024 | Rs 80 | NA | NA |
| 10 Jan 2024 | Rs 80 | NA | NA |
| 9 Jan 2024 | Rs 50 | NA | NA |
| 8 Jan 2024 | NA | NA | NA |
The Medi Assist Healthcare Services IPO GMP is currently available. The GMP typically reflects the difference between the unofficial market price of an IPO share in the grey market and the IPO’s official issue price. It serves as an indicator of investor sentiment and demand for the IPO.
As of the current information available, there is no data or pricing information from the grey market regarding the Medi Assist Healthcare Services IPO. Grey market activity can provide insights into investor expectations and the potential listing performance of an IPO, but it’s important to note that GMP data is unofficial and speculative in nature.
Investors and market participants are advised to exercise caution and rely on official sources and regulatory disclosures when evaluating an IPO’s attractiveness.
The absence of GMP data for the Medi Assist Healthcare Services IPO underscores the need for diligent research and monitoring of official announcements and updates related to the IPO as it progresses towards listing on the stock exchanges.
Medi Assist Healthcare IPO Subscription Status
| Day / Date | QIB | NII | RII | Emp | Total Subscription |
| 1st Day – 15th Jan | |||||
| 2nd Day – 16th Jan | |||||
| 3rd Day – 17th Jan | |||||
| Shares Offered or Net Issue |
As the anticipation surrounding the Medi Assist Healthcare Services IPO continues to grow, investors and market enthusiasts are keen to gauge the subscription status of this significant offering. However, at this stage, it’s important to note that there is no subscription data available.
The subscription status of an IPO typically provides valuable insights into the level of investor interest and demand for the company’s shares. It includes details such as the number of times the offered shares have been subscribed to, indicating oversubscription if the demand exceeds the available shares.
Investors and stakeholders are advised to remain patient and vigilant while awaiting updates on the subscription status. This data will become available once the IPO opens for subscription, and investors start placing their bids.
To stay informed about the Medi Assist Healthcare Services IPO Subscription status and to participate in the IPO, interested parties should keep a close eye on official announcements from Medi Assist Healthcare Services and regulatory authorities like the Securities and Exchange Board of India (SEBI).
Medi Assist Healthcare IPO Allotment Status
As the anticipation continues to build around the highly awaited IPO of Medi Assist Healthcare Services, potential investors are keen to know about the allotment status of shares. However, as of the current update, there is no data available regarding the allotment status for the IPO.
The allotment status is a crucial piece of information that informs investors whether they have been allotted shares in the IPO and, if so, the number of shares allocated to them.
Typically, this information becomes available after the IPO subscription period has concluded, and the company and regulatory authorities complete the allotment process.
To check the Medi Assist Healthcare Services IPO Allotment status, investors are advised to keep a close watch on the official website of the company, the website of the registrar appointed for the IPO, or the stock exchange where the IPO is listed.
These sources will provide updates and instructions on how to check the allotment status once the data becomes available.
Medi Assist Healthcare IPO Live Performance
As of the current information available, there is no data or Medi Assist Healthcare Services IPO live performance metrics. This lack of data is due to the fact that the IPO is still in its pre-listing phase, with crucial details such as the IPO price, subscription levels, and stock market performance yet to be determined and made public.
The IPO process involves various stages, including filing the draft red herring prospectus (DRHP), book building, allotment of shares, and eventual listing on the stock exchanges. These stages unfold sequentially, and the live performance data of the IPO becomes available only once the shares are listed and begin trading in the secondary market.
Investors and market observers should keep a close watch on official announcements and news sources for updates on the live performance of the Medi Assist Healthcare Services IPO.
As the IPO progresses through its various stages, pertinent information, including the opening and closing of subscriptions, subscription levels, and post-listing performance, will be accessible to the public.
Subscribe to Medi Assist Healthcare IPO – Open Free Demat Account Now!
Latest Medi Assist Healthcare IPO News
As of the most recent update, there is no news available regarding the Medi Assist Healthcare Services IPO. While anticipation runs high for this significant financial event, including details such as pricing, size, and other important developments, there have been no recent updates or announcements from the company or regulatory authorities.
The absence of specific news at this juncture suggests that investors and market enthusiasts will need to continue monitoring official sources and channels for any forthcoming information.
Keeping a close watch on announcements from Medi Assist Healthcare Services and regulatory bodies like the Securities and Exchange Board of India (SEBI) is crucial for those interested in participating in the IPO or tracking its progress.
Thus Medi Assist’s IPO poise to be a notable event in India’s healthcare insurance sector, and as such, any updates or Medi Assist Healthcare Services IPO news eagerly anticipated.
Medi Assist Healthcare – Company Review
Medi Assist Healthcare Services was incorporated in 2000 with a visionary mission. This is to provide informed healthcare decisions to a billion lives worldwide.
They achieve this through technology, strategic partnerships, and a human touch. Over the years, the company has become a trusted name in healthcare administration, expanding to serve not only its Indian members but also those in 138 countries. In 2000, the journey began as Medi Assist was incorporated.
They registered as a third-party administrator with the Insurance Regulatory and Development Authority of India (IRDAI). In 2010, Medimatter Health acquired a stake in the company from Reliance Capital Ltd. and Medybiz Pvt. Ltd. In 2011, Bessemer Health invested in the company.
Medi Assist is widely recognized as India’s largest Third-Party Insurance Administrator (TPA). They are known for their technology-first approach, collaborating with insurers to offer members seamless, cashless access to a vast network of healthcare providers.
This network includes over 14,000 hospitals across 967 cities and towns, spanning 32 states and union territories, as of March 31, 2023. Medi Assist is committed to delivering high-quality health insurance administration services. They partner with group accounts (employers) to administer employee health insurance plans in India. Additionally, they collaborate with insurers to manage health insurance plans for retail customers (individual policyholders) and publicly funded health schemes (Government Schemes).
Medi Assist Healthcare Services Limited is an unlisted public company incorporated on June 7, 2000. They are headquartered in Bangalore, Karnataka.
With an authorized share capital of INR 45.35 crores and a total paid-up capital of INR 34.43 crores, the company reported operating revenues ranging from INR 1 crore to INR 100 crores for the financial year ending on March 31, 2022. Their EBITDA increased by 11.09% over the previous year, and book net worth rose by 1.80%.
Products or Services
Medi Assist Healthcare Services specializes in providing a diverse range of medical claim services, catering to individuals of all age groups. Their offerings encompass Children Medical Claim Service, Lady’s Medical Claim Service, Men Medical Claim Service, and Medical Claim Service.
They understand the unique healthcare needs of each demographic and offer tailored support. From addressing the specific health requirements of children and women to providing comprehensive coverage for men and dedicated services.
Medi Assist Healthcare Services ensures that individuals receive the necessary care and financial assistance they need. Their commitment to quality healthcare solutions is evident in their comprehensive product and service offerings.
Promoters and Holding
Medi Assist Healthcare Services enjoys robust support from its key promoters. Including Dr. Vikram Jit Singh Chhatwal and corporate entity Medimatter Health. Collectively, they hold a substantial 67.55% stake in the company. Dr. Chhatwal, a full-time director, contributes his expertise to the firm’s governance and resides in Bengaluru, India. Medimatter Health, founded by Dr. Chhatwal and his wife Savitri Choudhury, holds 27.94% of the company’s pre-offer Equity Share capital, offering consultancy services in healthcare.
Both promoters commit to disclose their essential personal and corporate information to the Stock Exchanges as required. Their significant holdings underline their dedication to Medi Assist’s success.
Is Medi Assist Healthcare Good for Investment?
Medi Assist Healthcare Services, as a prominent player in India’s evolving healthcare landscape, holds a critical role in addressing the country’s healthcare challenges.
India’s healthcare sector grapples with inadequate infrastructure, a stark urban-rural divide, and growing disease burdens. With a density of beds far below global standards and limited access to primary healthcare in rural areas, there’s a pressing need for healthcare solutions.
In this context, the healthcare expenditure in India is marked by high out-of-pocket spending, far exceeding WHO guidelines, making private insurance increasingly essential.
Medi Assist’s role in facilitating insurance coverage aligns with India’s healthcare transformation. Moreover, as medical inflation soars, insurance coverage becomes a financial shield for households, making Medi Assist’s services even more relevant.
Digital transformation is reshaping healthcare access, and Medi Assist is embracing technology-driven solutions like DigiLocker and Health Wallet to enhance user experience. These innovations, combined with the government’s initiatives like Ayushman Bharat and NDHM, present opportunities to bridge the healthcare gap.
The regulatory changes and elevated government roles indicate a favourable environment for the health insurance sector. As India progresses toward “Insurance for All” by 2047, TPAs. Medi Assist, with its data-driven capabilities, plays a crucial part in shaping the sector’s future.
In conclusion, Medi Assist Healthcare Services stands as a significant player in India’s healthcare ecosystem. It addresses critical issues and contributes to the nation’s healthcare transformation.
Their commitment to leveraging technology, expertise, and data-driven solutions aligns well with the evolving healthcare landscape in India.
Medi Assist Healthcare Financial Statements
| Amount (in INR & Million) | |||
| 31-Mar-23 | Mar-23 | 31-Mar-21 | |
| Assets | 7,057.16 | 6,022.30 | 5,452.95 |
| Revenue | 5,189.55 | 4,120.23 | 3,455.74 |
| Expense | 4,153.46 | 3,339.47 | 2,845.32 |
| Profit After Tax | 740.42 | 642.18 | 262.74 |
Medi Assist Healthcare Services Limited reported its consolidated financial performance. As of March 31, 2023, reflecting notable changes compared to the previous years.
In terms of assets, the company’s non-current assets showed significant growth. Property, plant, and equipment increased to INR 4273.99 million from INR 212.49 million in 2022. Goodwill also surged to INR 6754.31 million from INR 409.80 million in 2022. On the other hand, current assets remained robust, with investments amounting to INR 427.31 million and trade receivables at INR 1,271.57 million.
The company had a stable equity share capital of INR 344.30 million. Other equity grew to INR 3,421.81 million, reflecting improved financial health.
Turning to the liabilities, both non-current and current liabilities saw notable changes. Non-current financial liabilities increased to INR 186.90 million. While current financial liabilities, including borrowings and lease liabilities, rose to INR 119.12 million. Total liabilities reached INR 3,220.44 million.
In summary, Medi Assist Healthcare Services Limited demonstrated strong growth in its assets, particularly in non-current assets and investments. The equity remained stable, while liabilities, both non-current and current, increased. These financials reflect the company’s evolving financial position as of March 31, 2023.
| Earnings per Equity Share (in Million) | |||
| 31-Mar-23 | Mar-23 | 31-Mar-21 | |
| Basic & Diluted | 10.76 | 9.33 | 3.92 |
Medi Assist Healthcare IPO Review
Medi Assist Healthcare Services is a leading player in India’s healthcare insurance sector. It is set to go public with its second attempt at an IPO. The offering, an “offer for sale” (OFS), involves the sale of up to 2.8 crore equity shares.
Renowned merchant bankers are advising on the Medi Assist Healthcare Services IPO, indicating a strong commitment to its success. Going public will enhance visibility and access to capital markets. This is with the IPO’s success reliant on investor sentiment and regulatory developments. The IPO’s crucial dates and performance data are yet to be determined.
Medi Assist Healthcare IPO Details
Here are a few more details you need to know before investing in Medi Assist Healthcare IPO –
Medi Assist Healthcare IPO Issue Object
Thus, Medi Assist Healthcare has proposed diverse objectives for making the IPO offer and some of the objectives are:
- To achieve the benefits of listing the Equity Shares on the Stock Exchanges
- And for the Offer for Sale of up to 28,028,168Equity Shares
Medi Assist Healthcare IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Largest health benefits administrator in India;
- Scalable technology-enabled infrastructure addressing the needs of all constituents of the health insurance ecosystem;
- Longstanding relationships with a majority of Indian insurance companies;
- Diversified base of Group Accounts with longstanding relationships;
- Attractive contracts with a pan-India healthcare provider network;
- Our Ability to Integrate Acquisitions; and
- Experienced management team and marquee shareholders
Quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-23 | 10.76 | 19.30 | 55.72 |
| 31-Mar-22 | 9.33 | 18.93 | – |
| Mar-21 | 3.92 | 8.98 | – |
Medi Assist Healthcare IPO Lead Managers
Here is the list of Lead managers –
- Axis Capital Limited
- IIFL Securities Limited
- Nuvama Wealth Management Limited
-
SBI Capital Markets Limited
Medi Assist Healthcare IPO Registrar to offer
Check out the details of the registrar here –
Link Intime India Private Limited
C-101, 247 Park
LBS MargVikhroli (West)
Mumbai 400 083 Maharashtra, India
Tel: (+ 91)810811 4949
E-mail: medi.ipo@linkintime.co.in
Website: www.linkintime.co.in
Investor grievance E-mail:medi.ipo@linkintime.co.in
Contact person: Shanti Gopalkrishnan
SEBI Registration No.: INR000004058
Medi Assist Healthcare IPO – Other Details
- Statutory Auditor – MSKA & Associates, Chartered Accountants
- Legal Counsel to the Company – Shardul Amarchand Mangaldas & Co
- Bankers to the Company – RBL Bank Limited
Medi Assist Healthcare IPO Verdict by Stock Brokers
Investing in the Medi Assist Healthcare Services IPO merits careful consideration. As a key player in India’s healthcare insurance sector, the company plays a pivotal role in addressing the nation’s healthcare challenges.
India’s rising healthcare expenditure and the need for insurance coverage underscore the sector’s importance. Additionally, favourable regulatory changes and government initiatives bode well for healthcare insurance providers.
However, potential investors should closely monitor the IPO’s details, including pricing, subscription levels, and financial performance.
The success of the IPO will depend on investor sentiment and market conditions. Investing in the IPO may align with India’s evolving healthcare landscape. However prudent decision-making and thorough research are essential before participating.
Medi Assist Healthcare IPO – Conclusion
In conclusion, the upcoming Medi Assist Healthcare Services IPO presents a significant opportunity for investors. This is to participate in India’s dynamic healthcare insurance sector.
With the company’s strong presence and commitment to leveraging technology and data-driven solutions, it is poised to address critical healthcare challenges. Also, contribute to the nation’s healthcare transformation.
However, whether to invest in this IPO should be a well-considered decision based on various factors. It includes the IPO’s pricing, subscription levels, and the overall market conditions at the time of its launch. The success of the IPO will be closely tied to investor sentiment and market dynamics.
To Subscribe to Medi Assist Healthcare IPO – Open Demat Account Now!
Medi Assist Healthcare IPO Review FAQs
Check out the FAQs on Medi Assist Healthcare IPO –
What is the Issue Size of Medi Assist Healthcare IPO?
The Company is making an initial public offer of 28,028,168 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Medi Assist Healthcare IPO?
The price band for this particular IPO ranges between Rs 397 to Rs 418. As far as the face value of the share is concerned, it is Rs.5 per share.
What is the Medi Assist Healthcare IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on January 15, 2024, while the closing date is set at January 17, 2024.
What is the Medi Assist Healthcare IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on January 18, 2024, refund initiation is on January 19, 2024, credit of shares is on January 19, 2024, and share listing date is on January 22, 2024.
What is the Medi Assist Healthcare IPO Listing Date?
Shares of this company shall be listed in the exchanges on January 22, 2024. The date, when the listing would be done, is stagnant on January 22, 2024.
Who is the Registrar of Medi Assist Healthcare IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Medi Assist Healthcare IPO?
Here are the promoters of this IPO – DR. VIKRAM JIT SINGH CHHATWAL, MEDIMATTER HEALTH MANAGEMENT PRIVATE LIMITED AND BESSEMER INDIA CAPITAL HOLDINGS II LTD. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Medi Assist Healthcare IPO?
They have obtained the GMP of this IPO and it is Rs. 65. Further insights into the Kostak rate and subject to sauda or SS are also included in this report.
Is Medi Assist Healthcare IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Medi Assist Healthcare Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Million is 740.42, 2022 is 642.18, 2021 is 262.74.
Featured Topics