The Medi Assist Healthcare date has been confirmed from January 15, 2024 and closes on January 17, 2024.
Medi Assist Healthcare Developers IPO is a fixed price issue of Rs 1,171.58 crores. The 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.
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Bidding Dates
January 15-17
Price Range
₹397 to ₹418 per share
Face Value
₹5 per share
GMP
₹34
Medi Assist Healthcare IPO GMP
The Medi Assist Healthcare IPO GMP is ₹34.
IPO Overview
The Medi Assist Healthcare IPO is a book-built issuance worth Rs 1,171.58 crore. The issue is essentially an offer to sell 2.8 crore shares. Medi Assist Healthcare’s initial public offering (IPO) will begin on January 15, 2024 and end on January 17, 2024. The allotment for the Medi Assist Healthcare IPO is expected to be completed on Thursday, January 18, 2024. Medi Assist Healthcare IPO will be listed on the BSE and NSE, with a preliminary listing date set for Monday, January 22, 2024.
Medi Assist Healthcare’s IPO pricing range is ₹397-418 per share. The minimum lot size for an application is 35 shares. The minimum investment for retail investors is ₹14,630. The minimum lot size investment for sNII is 14 lots (490 shares) for ₹204,820, while for bNII, it is 69 lots (2,415 shares) worth ₹1,009,470. As of March 31, 2023, the corporation had a healthcare network spanning India, with over 14,000 facilities in 967 cities and villages throughout 32 states and union territories. During FY2023, the company resolved 5.27 million claims, which included 2.44 million in-patient claims and 2.83 million out-patient claims.
Medi Assist Healthcare IPO Details
| IPO Date | January 15, 2024 to January 17, 2024 |
| Listing Date | [.] |
| 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 pre issue | 68,859,212 |
| Share holding post issue | 68,859,212 |
Medi Assist Healthcare Services Limited Financial Information
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 705.72 | 602.23 | 545.30 |
| Revenue | 518.96 | 412.02 | 345.57 |
| Profit After Tax | 74.04 | 64.22 | 26.27 |
| Net Worth | 383.67 | 339.29 | 292.55 |
| Reserves and Surplus | 353.86 | 308.63 | 295.81 |
Medi Assist Healthcare IPO Timeline
| 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 | Monday, January 22, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 17, 2024 |
Company Profile
Medi Assist Healthcare Services Limited, founded in June 2002, is a health-tech and insurance-tech firm that manages health benefits for employers, retail members, and public health schemes, principally serving insurance companies. Medi Assist, through a network of healthcare service providers, provides medical insurance and cashless hospitalisation. However, the company also serves as a go-between for (a) general and health insurance companies and their insured members, (b) insurance companies and healthcare providers (such as hospitals), and (c)
the government and public health system beneficiaries. As of March 31, 2023, Medi Assist Healthcare was working with 36 insurance companies in India and around the world. The retail portfolio generated revenue of 494.68 million, 579.84 million, and 570.29 million in fiscal years 2021, 2022, and 2023, respectively. For the same years, these amounts accounted for 15.33%, 14.72%, and 11.29% of total revenue from client contracts.
Registrar Info
| Name | Link Intime India Private Ltd |
| Phone number | +91-22-4918 6270 |
| Email ID | medi.ipo@linkintime.co.in |
| Website | linkintime.co.in |
Contact Details
| Name | Medi Assist Healthcare Services Limited |
| Phone number | (+91 80) 6919 0000 |
| Email ID | investor.relations@mediassist.in |
| Website | mediassist.in |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
