Medi Assist Healthcare Services Limited
Mainboard₹14,630 / 35 Shares
Medi Assist Healthcare Services Limited IPO Details
The Medi Assist Healthcare Services Limited IPO price band is set between ₹397-418 per equity share, with a face value of ₹5 per share. The issue is managed by Link Intime India Private Ltd, and the equity shares are proposed to be listed on the Mainboard.
The IPO date for subscription opens on 15 Jan, 2024 and closes on 17 Jan, 2024. Investors can check the allotment status on 18 Jan, 2024, while the listing date is tentatively scheduled for 23 Jan, 2024.
The total issue size is OFS : 28,028,168 shares, aggregating up to ₹1171.58 Cr. Stay tuned for the latest Medi Assist Healthcare Services Limited IPO review and GMP updates.
Medi Assist Healthcare Services Limited IPO Review, Rating & Analysis
Medi Assist Healthcare Services Limited IPO Review
NO REVIEWMedi Assist Healthcare Services Limited IPO Rating
Medi Assist Healthcare Services Limited IPO Highlights
IPO Date
Jan 15, 2024 - Jan 17, 2024
Listing Date
23 Jan, 2024
Face Value
₹5 Per Equity Share
Price Band
₹397-418 per equity share
Lot Size
35 Shares
Fresh Issue
Shares
Offer for Sale
28,028,168 shares
Listing At
BSE, NSE
Medi Assist Healthcare Services Limited IPO Lot Size
The minimum market lot for Medi Assist Healthcare Services Limited IPO is 35 shares with an application amount of ₹14,630. Retail investors can apply for up to 13 lots. The table below details the minimum and maximum investment limits for Retail and HNI investors.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 35 | ₹14,630 |
| Retail (Max) | 13 | 455 | ₹1,90,190 |
| S-HNI (Min) | 14 | 490 | ₹2,04,820 |
| S-HNI (Max) | 68 | 2380 | ₹9,94,840 |
| B-HNI (Min) | 69 | 2415 | ₹10,09,470 |
Medi Assist Healthcare Services Limited IPO Timeline
Issue Price
₹397-418 per equity shareFace Value
₹5 Per Equity ShareListing at Group
BSE, NSERegistrar
Link Intime India Private LtdLead Manager
Axis Bank LimitedIifl Securities LtdNuvama Wealth Management LimitedSBI Capital Markets LimitedIssue Size
OFS : 28,028,168 shares(aggregating up to ₹1171.58 Cr)Medi Assist Healthcare Services Limited IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31 Mar 23 | 705.72 | 518.96 | 74.04 | - | - | - |
| 31 Mar 22 | 602.23 | 412.02 | 64.22 | - | - | - |
| 31 Mar 21 | 545.30 | 345.57 | 26.27 | - | - | - |
All values are in ₹ Cr.
Promoters & Share Holding
Promoter(s) Name
- Dr Vikram Jit Singh Chhatwal
- Medimatter Health Management Private Limited
- Bessemer India Capital Holding II Ltd
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| 67.55% | 45.75% |
About Company
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 IPO Subscription Details
| As on | QIB | NII bNII sNII | Retail | Total |
|---|---|---|---|---|
| Shares Offered / Reserved | 5,605,634 | 4,204,226 2,802,817 1,401,409 | 9,809,859 | 19,619,719 |
Day 1 -15-01-24 05:00 PM | 0.00 x | 0.45 0.36 x 0.62 x | 0.89 x | 0.54 x |
Day 2 -16-01-24 05:00 PM | 0.01 x | 1.60 1.55 x 1.69 x | 1.69 x | 1.19 x |
Day 3 -17-01-24 05:00 PM | 40.14 x | 14.85 17.22 x 10.11 x | 3.18 x | 16.25 x |
Frequently Asked Questions about Medi Assist Healthcare Services Limited IPO
When will Medi Assist Healthcare Services Limited IPO open for subscription?
The Medi Assist Healthcare Services Limited IPO opens on 15 Jan, 2024 and closes on 17 Jan, 2024.
What is the investors portion for Medi Assist Healthcare Services Limited IPO?
The investors' portion for QIB is 40.14 x, NII is 17.22 x, and Retail is 3.18 x.
How to apply for Medi Assist Healthcare Services Limited IPO?
You can apply for Medi Assist Healthcare Services Limited IPO via ASBA online through your bank account. You can also apply via UPI through stock brokers like Zerodha, Upstox, or Paytm Money.
What is the issue size of Medi Assist Healthcare Services Limited IPO?
The issue size of Medi Assist Healthcare Services Limited IPO is approx ₹OFS : 28,028,168 shares(aggregating up to ₹1171.58 Cr) crores.
What is the price band of Medi Assist Healthcare Services Limited IPO?
The price band for Medi Assist Healthcare Services Limited IPO is ₹397 to ₹418 per equity share.
What is the lot size of Medi Assist Healthcare Services Limited IPO?
The minimum bid (lot size) for Medi Assist Healthcare Services Limited IPO is N/A shares with an investment of approx ₹14,630 .
What is the allotment date of Medi Assist Healthcare Services Limited IPO?
The allotment date for Medi Assist Healthcare Services Limited IPO is 18 Jan, 2024.
What is the listing date of Medi Assist Healthcare Services Limited IPO?
The listing date for Medi Assist Healthcare Services Limited IPO is expected to be 23 Jan, 2024.
What is the GMP of Medi Assist Healthcare Services Limited IPO?
The latest Grey Market Premium (GMP) for Medi Assist Healthcare Services Limited IPO is being updated regularly on IPOROCK.
Parth D.
Founder & Lead Analyst
Parth D. is a software engineer and financial analyst who brings a quantitative edge to IPO tracking. With deep expertise in algorithmic trading and financial tool development, he builds the technology that powers IPORock's real-time data engines. He has been tracking the Indian market since 2018.