Medi Assist Healthcare Services IPO Details | GMP, Date

Medi Assist Healthcare Services IPO Details ( Medi Assist Healthcare Services Limited IPO Review )

(15 Jan 2024 – 17 Jan 2024)

Founded in June 2002, Medi Assist Healthcare Services Limited is a company that deals with health and insurance technology. Their main job is to handle health benefits for employers, individual members, and public health programs, mainly working with insurance companies.

Medi Assist provides medical insurance and cashless hospitalization through a network of healthcare providers. Beyond that, the company also plays the role of a go-between for (a) regular people and their health insurance companies, (b) insurance companies and healthcare providers like hospitals, and (c) the Government and beneficiaries of public health programs. As of March 31, 2023, Medi Assist Healthcare had teamed up with 36 insurance companies in India and around the world.

For the financial years 2021, 2022, and 2023, the retail portfolio brought in revenues of ₹494.68 million, ₹579.84 million, and ₹570.29 million, respectively. These amounts made up 15.33%, 14.72%, and 11.29% of the total revenue from customer contracts during those years.

By March 31, 2023, the company had set up a healthcare network across India, encompassing over 14,000 hospitals in 967 cities and towns across 32 states and union territories.

In the fiscal year 2023, the company processed 5.27 million claims, including 2.44 million in-patient claims and 2.83 million out-patient claims.

Medi Assist Healthcare Services Limited IPO Competitive Strength

• Well Established Third Party Administrator in India
• Scalable Technology-Enabled Infrastructure Addressing the Needs of All Constituents of the Health Insurance Ecosystem
  1. Cost Leadership
  2. Insurer Benefits
  3. Insured Member Experience
  4. Offerings for Healthcare Providers
• Longstanding Relationships with a Majority of Insurance Companies
• Diversified base of Group Accounts with Longstanding Relationships
• Attractive Contracts with a pan-India Healthcare Provider Network
• Our Ability to Integrate Acquisitions
• Experienced Management Team and Marquee Shareholders

Medi Assist Healthcare Services IPO Financials Performance ( Results )

Medi Assist Healthcare Services Limited Financial Information (Restated)

All Amount in ₹ Crores

Period Ended	Total Assets	Total Revenue	PAT	EPS (₹)	Net Worth	Reserves	Borrowing
31-Mar-21	545.30	345.57	38.01	3.88	292.55	295.81
31-Mar-22	602.23	412.02	63.47	9.25	339.29	308.63
31-Mar-23	705.72	518.96	75.31	10.65	383.67	353.86
30-Sep-23	802.62	312.03	45.26	3.07	416.64	102.03

Objective of Medi Assist Healthcare Services IPO Issue

The main goal of this offer is to enjoy the advantages of having our Equity Shares listed on the Stock Exchanges. We believe that listing these shares will make our company more visible, strengthen our brand, and make it easier for our current shareholders to sell their shares. Additionally, the listing will create a public market for our Equity Shares in India. It’s important to note that the company won’t get any money from this offer. Instead, all the funds raised will go to the Selling Shareholders, based on the proportion of Equity Shares they offer for sale in this offer.

Medi Assist Healthcare Services IPO Basic Details

IPO Date	Jan 15, 2024 to Jan 17, 2024
Listing Date	Monday, January 22, 2024
Face Value	₹5 per share
Price	₹397 to ₹418 per share
Lot Size	35 Shares
Issue Size	28,028,168 shares of ₹5 (aggregating up to ₹1,171.58 Cr)
Offer for sales (OFS) Issue	28,028,168 shares of ₹5 (aggregating up to ₹1,171.58 Cr)
Issue Type	Book Built Issue IPO
Listing At	NSE, BSE
Share holding pre issue	68,859,212
Share holding post issue	68,859,212
Company Promoters	Dr Vikram Jit Singh Chhatwal, Medimatter Health Management Private Limited and Bessemer India Capital Holding II Ltd.

Medi Assist Healthcare Services IPO Reservation

QIB Shares Offered	50% of the Net Issue
NII (HNI) Shares Offered	15% of the Net Issue
Retail Shares Offered	35% of the Net Issue
Total Shares Offered	100% of the Net Issue

Medi Assist Healthcare IPO Timetable

Medi Assist Healthcare IPO will open on January 15, 2024 and close on January 17, 2024. You can join Medi Assist IPO at 10.00 A.M. to 5.00 p.m. Upto which mandate can be applied.

Event	Date
Opening Date	15 January 2024 (Monday)
Closing Date	17 January 2024 (Wednesday)
Basis of Allotment	18 January 2024 (Thursday)
Initiation of Refunds	19 January 2024 (Friday)
Credit of Shares to Demat	19 January 2024 (Friday)
Listing Date	22 January 2024 (Monday)
Deadline for UPI mandate confirmation	5 PM on 17 January 2024

Medi Assist IPO Lot Size

For retail investors in Medi Assist IPO, 35 shares will come in 1 lot or the minimum investment will be ₹14,630. Retail-individual investors can apply for up to 455 lots or the maximum investment will be ₹190,190.

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

Medi Assist Healthcare Services IPO Promoter Holding

The company’s promoters include Dr Vikram Jit Singh Chhatwal, Medimatter Health Management Private Limited and Bessemer India Capital Holding II Ltd.

Pre Issue Share Holding	67.55%
Post Issue Share Holding	45.75%

Medi Assist Healthcare Services Ltd IPO Key Performance Indicator ( Valuation )

In the table given below, all the figures have been told according to the latest financial year.

KPI	Values
Market Cap (₹ Cr.)	2878.32
Earning Per Share (EPS)	₹13.15 per Equity Share
Net Asset Value (NAV)	₹55.72 per Equity Share
P/E Ratio (P/E) (x)	38.22
Post P/E Ratio (P/E) (x)	31.8
Return on Net Worth (RoNW) (%)	19.63
Return on equity (ROE) (%)	24.95
Return on Capital Employed (ROCE) (%)	24.95

Medi Assist Healthcare Services Ltd Peer Comparison

There are no listed companies in India that are comparable in all aspects of business and services that the Company provides. Hence, it is not possible to provide an industry comparison in relation to the Company.

Medi Assist Healthcare Services IPO GMP Live Update, Kostak Rate day by day

Date	GMP	Kostak	Subject to
Today	₹33	–	–
15 January 2024	₹33	–	–
14 January 2024	₹33	–	–
13 January 2024	₹50	–	–
12 January 2024	₹50	–	–
11 January 2024	₹50	–	–

Medi Assist Healthcare Services IPO Detail Video:

Medi Assist Healthcare Services IPO Subscription Status (Bidding Detail)

The Medi Assist Healthcare Services IPO on January 17, 2024 at 7:30:00 PM was subscribed 16.25 times, with the retail category being subscribed 3.19 times, the NII (Non-Institutional Investor) category being subscribed 14.85 times, QIB (Qualified-Institutional Buyers) category being subscribed 40.14 times.

Category	Subscription
QIB	40.14x
NII	14.85x
Retail	3.19x
Total	16.25x

Medi Assist Healthcare Services IPO Prospectus

Medi Assist Healthcare Services IPO DRHP	Download
Medi Assist Healthcare Services IPO RHP	Download
Medi Assist Healthcare Services IPO Anchor Investors Details PDF	Download

Medi Assist Healthcare Services IPO Rating

Our Rating

2.5/5.0

Medi Assist Healthcare Services Company Contact Information

Medi Assist Healthcare Services Limited

Corporate Identity Number: U74900KA2000PLC027229
Registered and Corporate Office: Tower D, 4th floor, IBC Knowledge Park, 4/1 Bannerghatta Road, Bengaluru 560029, Karnataka, India
Tel: +91 80 6919 0000
Contact Person: Simmi Singh Bisht, Chief Compliance Officer and Company Secretary
E-mail: investor.relations@mediassist.in
Website: www.mediassist.in
Our Promoters: Dr. Vikram Jit Singh Chhatwal, Medimatter Health Management Private Limited and Bessemer India Capital Holdings Ii Ltd.

Medi Assist Healthcare Services IPO Registrar

Link Intime India Private Limited

Registered Office: C-101, 247 Park LBS Marg Vikhroli (West), Mumbai 400 083, Maharashtra, India
Tel: (+ 91) 810 811 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 Services IPO Lead Manager

Axis Capital Limited

Registered Office: 1st Floor, Axis House, C-2, Wadia International Centre, P.B. Marg, Worli, Mumbai 400 025, Maharashtra, India
Tel: + 91 22 4325 2183
E-mail: mhsl@axiscap.in
Website: www.axiscapital.co.in
Investor grievance E-mail: complaints@axiscap.in
Contact person: Pavan Naik/Jigar Jain
SEBI Registration No.: INM000012029

IIFL Securities Limited

Registered Office: 24th Floor, One Lodha Place, Senapati Bapat Marg Lower Parel (West), Mumbai 400 013, Maharashtra, India
Tel: + 91 22 4646 4728
E-mail: mediassist.ipo@iiflcap.com
Website: www.iiflcap.com
Investor grievance E-mail: ig.ib@iiflcap.com
Contact person: Pawan Kumar Jain/ Yogesh Malpani
SEBI Registration No.: INM000010940

Nuvama Wealth Management Limited

(formerly known as Edelweiss Securities Limited)

Registered Office: 801 – 804 Wing A Building No 3, Inspire BKC G Block, Bandra Kurla Complex
Bandra East, Mumbai 400 051, Maharashtra, India
Tel: + 91 22 4009 4400
E-mail: mediassist@nuvama.com
Website: www.nuvama.com
Investor grievance E-mail: customerservice.mb@nuvama.com
Contact person: Lokesh Shah
SEBI Registration No.: INM000013004

SBI Capital Markets Limited

Registered Office: 1501, 15th Floor, A & B Wing, Parinee Crescenzo, G Block, Bandra Kurla Complex,
Bandra East, Mumbai 400 051, Maharashtra, India
Tel: +91 22 4006 9807
E-mail: mediassist.ipo@sbicaps.com
Website: www.sbicaps.com
Investor grievance E-mail: investor.relations@sbicaps.com
Contact person: Janardhan Wagle/ Krithika Shetty
SEBI Registration No.: INM000003531

Medi Assist Healthcare Services IPO FAQs