The Medi Assist Healthcare Services IPO started on January 15, 2024, and ended on January 17, 2024. Shares were allocated on January 18, 2024, and refund processes began on January 19, 2024. On January 19, 2024, the shares were credited to investors demat accounts. Medi Assist Healthcare Services was officially listed on the stock exchange on January 20, 2024.
During the IPO, Medi Assist Healthcare Services offered shares at a price range of ₹397 to ₹418 per share, and the lot size was 35 shares. The total issue size was ₹1,171.58 crores, with ₹1,171.58 crores from shares for sale. The IPO was listed on both the NSE and BSE.
Regarding share reservations, 50% of the shares were allocated to Qualified Institutional Buyers (QIB), 15% were reserved for Non-Institutional Investors (NII), and 35% were set aside for retail investors.
Medi Assist Healthcare Services IPO Subscription Update Video
Medi Assist Healthcare Services IPO Subscription Status
The Medi Assist Healthcare Services IPO on January 17, 2023 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, the 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 Basic Details
| Company Name | Medi Assist Healthcare Services Limited |
| Domain of Company | Health-tech and Insurance-tech |
| Medi Assist Healthcare Services IPO Open Date | January 15, 2024 |
| Medi Assist Healthcare Services IPO Close Date | January 17, 2024 |
| Medi Assist Healthcare Services IPO Allotment Date | January 18, 2024 |
| Medi Assist Healthcare Services IPO Listing Date | January 20, 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 Sale | 28,028,168 shares of ₹5 (aggregating up to ₹1,171.58 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE, BSE |
| Company Promoters | Dr Vikram Jit Singh Chhatwal, Medimatter Health Management Private Limited and Bessemer India Capital Holding II Ltd. |
About Medi Assist Healthcare Services Limited
Medi Assist Healthcare Services Limited started in June 2002. It’s a company in the health-tech and insurance-tech field. Their main job is handling health benefits for employers, regular folks, and public health plans. They mostly work with insurance companies.
Medi Assist helps with medical insurance and making hospital visits cashless. They have a bunch of healthcare providers in their network. But, they also act as a go-between for (a) regular and health insurance companies and their members, (b) insurance companies and healthcare providers like hospitals, and (c) the Government and people in public health plans. As of March 31, 2023, they teamed up with 36 insurance companies in India and around the world.
From the retail side, they made ₹494.68 million, ₹579.84 million, and ₹570.29 million in the financial years 2021, 2022, and 2023. That’s 15.33%, 14.72%, and 11.29% of the total revenue from customer contracts during those years.
By March 31, 2023, the company has a healthcare network all over India. They’ve got connections with over 14,000 hospitals in 967 cities and towns across 32 states and union territories.
In the 2023 financial year, the company dealt with 5.27 million claims. This included 2.44 million claims for people staying in the hospital and 2.83 million claims for people getting outpatient services.
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Medi Assist Healthcare Services IPO FAQs
What is the start and end date of Medi Assist Healthcare Services IPO Subscription?
The Medi Assist Healthcare Services IPO started on January 15, 2024 and ended on January 17, 2024.
When does Medi Assist Healthcare Services IPO Subscription open?
The Medi Assist Healthcare Services IPO open on January 15, 2024.
When does Medi Assist Healthcare Services IPO Subscription close?
The Medi Assist Healthcare Services IPO Close on January 17, 2024.
What is the allotment date of Medi Assist Healthcare Services IPO?
The allotment date for Medi Assist Healthcare Services IPO is January 18, 2024.
When is the initial refund date of Medi Assist Healthcare Services IPO?
The initial Refund date for Medi Assist Healthcare Services IPO is January 19, 2024.
When were the shares credited to investors demat accounts for the Medi Assist Healthcare Services IPO?
The shares for the Medi Assist Healthcare Services IPO were credited to investors demat accounts on January 19, 2024.
When will Medi Assist Healthcare Services IPO be listed on the stock market?
Medi Assist Healthcare Services IPO stock market will be listed on January 22, 2024 at 10 am.
What was the price range of the Medi Assist Healthcare Services IPO shares?
The Medi Assist Healthcare Services IPO shares were offered at a price range of ₹397 to ₹418 per share.
What was the lot size for the Medi Assist Healthcare Services IPO shares?
The lot size for the Medi Assist Healthcare Services IPO shares was 35 shares.
What was the total issue size of the Medi Assist Healthcare Services IPO?
The total issue size of the Medi Assist Healthcare Services IPO was ₹1,171.58 crores.
How were the shares allocated among different types of investors for the Medi Assist Healthcare Services IPO?
50% of the shares were allocated to Qualified Institutional Buyers (QIB), 15% were reserved for Non-Institutional Investors (NII), and 35% were set aside for retail investors.
On which stock exchanges was the Medi Assist Healthcare Services IPO listed?
The Medi Assist Healthcare Services IPO was listed on the BSE, NSE.
What is the Medi Assist Healthcare Services IPO Subscription Status?
Medi Assist Healthcare Services IPO is subscribed 16.25 Times.
