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Medi Assist Healthcare Services IPO

Closed RHP

Listing Details

  • Listing Exchange BSE, NSE
  • Listing Date 23-Jan-24
  • IPO Price Range ₹397
  • Listing Price ₹465
  • Listing Change 11.2 %
  • Last Traded Price ₹495.15
  • Current Change 18.5 %

Medi Assist IPO Details

  • Open Date 15-Jan-24
  • Close Date 17-Jan-24
  • Lot Size 35
  • IPO Size ₹ 1171.58 Cr
  • IPO Price Range ₹ 397 to ₹ 418
  • Min Investment ₹ 13895
  • Listing Exchange BSE, NSE
  • Basis of Allotment 18-Jan-24
  • Refunds 19-Jan-24
  • Credit to Demat Account 19-Jan-24
  • Listing Date 22-Jan-24

Medi Assist Healthcare Services IPO Subscription Status

Date QIB NII Retail TOTAL
15-Jan-24 0.00 0.45 0.91 0.55
16-Jan-24 0.01 1.61 1.71 1.20
17-Jan-24 40.14 14.85 3.19 16.25

Medi Assist IPO Synopsis

Medi Assist Healthcare Services Limited IPO will open in 2024. The company is recognised as the largest health benefits administrator in India. The IPO includes an Offer-for-Sale (OFS) of 28,028,168 equity shares with a face value of ₹5 each. The share allotment date and listing date are yet to be announced. The price band and the lot size are yet to be declared.    

Axis Capital Limited, IIFL Securities Limited, Nuvama Wealth Management Limited, and SBI Capital Markets Limited are the book-running lead managers for this IPO, while Link Intime India Private Limited is the registrar. 

Objectives of Medi Assist Healthcare IPO:

Being an OFS IPO, the proceeds will not be received by the company. 
 

Medi Assist Healthcare IPO Video:

 

About Medi Assist Healthcare Services

Established in 2002, Medi Assist Healthcare Services Limited is recognised as the largest health benefits administrator in India. It operates as a tech-enabled healthcare and insurance platform also known as health-tech and ensure-tech platforms. As of March 2023, the company has partnerships with 36 Indian and global insurance companies. 

The company mainly works with insurance providers along with being an intermediary for:

i) General and health insurance companies and the insured members
ii) Insurance companies and healthcare providers (such as hospitals)
iii) The Government and beneficiaries of public health schemes.

As of FY22, Medi Assist Healthcare was India’s largest health benefits administrator in terms of premium collected for group and retail policies with a market share of 41.71% and 14.83%, respectively. At the end of FY23, the company had ₹145,746.49 million of health 134 insurance premiums (group and retail) under management.  

Medi Assist Healthcare has a PAN-India presence including a network of 14,301 hospitals in 967 cities and towns and 32 states and union territories as of FY2023. For the same period, the company has also settled 5.27 million claims. 

Peer Comparison
No listed peers. 
 

For More Information:
Webstory on Medi Assist Healthcare IPO

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY22 FY21
Revenue from operations 504.93 393.81 322.74
EBITDA 133.36 112.04 98.42
PAT 75.31 63.47 38.00
Particulars (in Rs. Crores) FY23 FY22 FY21
Total Assets 705.71 602.20 545.29
Share Capital 34.43 34.43 0.037
Total Borrowings 322.04 262.94 252.75
Particulars (in Rs. Crores) FY23 FY22 FY21
Net cash generated from / (used in) operating activities 81.07 64.47 140.40
Net cash from / (used in) investing activities -10.49 -82.89 -60.80
Net cash flow from / (used in) financing activities -31.52 -30.37 -10.76
Net increase (decrease) in cash and cash equivalents 39.06 -48.79 68.84


Medi Assist IPO Key Points

  • Strengths

    1.    The company is the Largest Health Benefits Administrator in India. 
    2.    It has Scalable Technology-Enabled Infrastructure that looks after the Needs of All Constituents of the Health Insurance Ecosystem.
    3.    The company is cost-efficient. 
    4.    Offers a comprehensive experience for claim settlement to insurance companies as well as insured individuals. 
    5.    The company enjoys a long-standing relationship with insurance providers.
    6.    It also has a Diversified base of Group Accounts with Longstanding Relationships.
    7.    PAN-India presence is also a big plus. 
    8.    The company has a demonstrated history of integrating acquisitions with its business and consolidating its position in the health insurance industry.  
    9.    Experienced Management Team.
     

  • Risks

    1.    The company is significantly dependent on group accounts in certain industries. 
    2.    It is also dependent on a few major clients for revenue.
    3.    The revenues and profitability are based on premiums under management, which may decline. 
    4.    The business relies on the continued demand for benefits administration services by insurance companies, corporates and the Central and State Governments.
    5.    It also provides services under government-sponsored insurance schemes and thus is exposed to risks associated with program funding, enrollments and delayed payments.
    6.    Reported negative cash flows in the past. 
    7.    The company faces intense competition. 

How to apply for IPO?

  • Login to your 5paisa account and select the issue in the current IPO section

  • Enter the number of lots and price at which you wish to apply for

  • Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange

  • You will receive a mandate notification to block funds in your UPI app

  • Approve the mandate request on your UPI and funds will be blocked

Medi Assist IPO FAQs

How to apply for the Medi Assist Healthcare Services IPO?

To apply for Medi Assist Healthcare IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the Medi Assist Healthcare Services IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    
You will receive a mandate notification to block funds in your UPI app.

What is the GMP of the Medi Assist Healthcare Services IPO?

The GMP value of every IPO changes daily. To view today's GMP of Medi Assist Healthcare Services IPO visit https://www.5paisa.com/ipo/ipo-gmp 
 

What is the price band of Medi Assist Healthcare IPO?

The price band is yet to be announced. 
 

Who are the book runners for the Medi Assist Healthcare Services IPO?

Axis Capital Limited, IIFL Securities Limited, Nuvama Wealth Management Limited, and SBI Capital Markets Limited are the book-running lead managers for Medi Assist Healthcare IPO.

What is the objective of the Medi Assist Healthcare IPO?

Medi Assist Healthcare Services Limited will not receive any proceeds from the IPO.
 

Contact Details of Medi Assist Healthcare Services IPO

Contact Information

Medi Assist Healthcare Services Limited

Tower D, 4th floor, IBC Knowledge Park
4/1 Bannerghatta Road
Bengaluru 560 029
Phone: (+91 80) 6919 0000
Email: investor.relations@mediassist.in
Website: https://mediassist.in/

Medi Assist Healthcare Services IPO Register

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: medi.ipo@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html

Medi Assist Healthcare Services IPO Lead Manager

IIFL Securities Ltd
SBI Capital Markets Limited
Axis Bank Limited 
Nuvama Wealth Management Limited 

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