Medi Assist Healthcare IPO: An Overview and Corporate Insight
Founded in June 2002, Medi Assist Healthcare Services Limited is a health-tech and insurance-tech business that specialises in supporting insurance companies by managing health benefits for retail members, employers, and public health initiatives.
Through a network of medical service providers, Medi Assist provides cashless hospitalisation and medical insurance. But the business also serves as a go-between for general and health insurance companies and their insured members, insurance companies and hospitals and other healthcare providers, and the government and those who benefit from public health programs. As of March 31, 2023, Medi Assist Healthcare had partnerships with 36 insurance firms both domestically and abroad.
Grey Market Premium Analysis and IPO Timelines – Medi Assist Healthcare IPO
|
Date |
GMP |
| 12 January 2024 | ₹64 |
| 11 January 2024 | ₹81 |
| 10 January 2024 | ₹81 |
Pricing Details and Lot Size – Medi Assist Healthcare IPO
The price band is ₹397 to ₹418 and bid lot size is 35 shares.
Book-Running Lead Managers and Registrar – Medi Assist Healthcare IPO
Axis Capital, IIFL Securities, Nuvama Wealth Management, and SBI Capital Markets are the book-running lead managers of the Medi Assist Healthcare IPO and Link Intime India is the registrar.
Offer for Sale and IPO Size Breakdown – Medi Assist Healthcare IPO
The offer for sale (OFS) portion of the Medi Assist Healthcare Services IPO comprises the issue of 2,80,28,168 shares (280.28 lakh shares approximately), which at the upper price band of ₹418 per share translates into OFS issue size of ₹1,171.58 crore.Since there is no fresh issue, the OFS portion will also double up as the overall issue size.
IPO Timelines at a Glance – Medi Assist Healthcare IPO
| Event | Date |
| IPO Opening Date | January 15, 2024 |
| IPO Closing Date | January 17, 2024 |
| IPO Allotment Date | January 18, 2024 |
| Initiation of Refunds | January 19, 2024 |
| Credit of Shares to Demat | January 19, 2024 |
| IPO Listing Date | January 22, 2024 |
Utilization of Fresh Issuance and Technological Advancements – Medi Assist Healthcare IPO
- The goal of the Offer is to obtain the advantages of the Equity Shares’ Stock Exchange listing. The company anticipates that by listing the equity shares, it would improve its reputation and visibility and give its current shareholders access to liquidity.
- There will be no earnings from the Offer for the corporation. In proportion to the equity shares they offered in the offer for sale, the Selling Shareholders shall receive all offer proceeds.
Conclusion
As more healthcare contracts are signed, the company—which is a unique participant in the third-party administration market inside the insurance industry—is expanding its reach. Once all of the recent acquisition settlements are in place, the company will resume its current course. After listing, this business will get the public’s interest in being the pioneer in the field. Investors can put money aside for this emerging industry’s medium- to long-term returns.
Frequently Asked Questions (FAQ) – Medi Assist Healthcare IPO
-
What does Medi Assist Healthcare specialise in?
Through its network of healthcare providers, Medi Assist Healthcare Services Ltd provides cashless hospitalisation and medical insurance. But Medi Assist Healthcare Services Ltd also serves as a go-between for health insurance providers and their clients.
-
What is the primary purpose of Medi Assist Healthcare’s IPO?
The goal of the Offer is to obtain the advantages of the Equity Shares’ Stock Exchange listing. The company anticipates that by listing the equity shares, it would improve its reputation and visibility and give its current shareholders access to liquidity.
-
Who are the lead managers for Medi Assist Healthcare’s IPO?
Axis Capital, IIFL Securities, Nuvama Wealth Management, and SBI Capital Markets are the book-running lead managers of the Medi Assist Healthcare IPO.
-
How is the IPO structured in terms of new issuance and offer for sale (OFS)?
The offer for sale (OFS) portion of the Medi Assist Healthcare Services IPO comprises the issue of 2,80,28,168 shares (280.28 lakh shares approximately).Since there is no fresh issue, the OFS portion will also double up as the overall issue size.
-
What is the lot size and minimum investment for retail investors in the Medi Assist Healthcare IPO?
The minimum bid lot size is 35 shares and maximum is 455 shares.
-
What is the price band for the Medi Assist Healthcare IPO?
The IPO price band is ₹397 to ₹418.
-
How has the Grey Market Premium (GMP) trend for Medi Assist Healthcare IPO?
The GMP has been announced today with a value of Rs.81.
-
When does the IPO open and close for subscription?
The IPO opens on January 15 2024 and closes on January 17 2024.
-
When is the allotment date for the Medi Assist HealthcareLimited IPO?
The allotment date is set for January 18 2024.
-
When is Medi Assist Healthcare expected to be listed on the stock exchanges?
The anticipated listing date for Medi Assist Healthcare IPO is January 22 2024 on the BSE and NSE mainboards.
