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Medi Assist Healthcare Services Limited IPO (Medi Assist Healthcare IPO) Detail

January 15, 2024 - January 17, 2024

Medi Assist Healthcare IPO is a book built issue of Rs 1,171.58 crores. The issue is entirely an offer for sale of 2.8 crore shares.

Medi Assist Healthcare IPO bidding started from January 15, 2024 and ended on January 17, 2024. The allotment for Medi Assist Healthcare IPO was finalized on Thursday, January 18, 2024. The shares got listed on BSE, NSE on January 23, 2024.

Medi Assist Healthcare IPO 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.

Axis Bank Limited, Iifl Securities Ltd, Nuvama Wealth Management Limited and SBI Capital Markets Limited are the book running lead managers of the Medi Assist Healthcare IPO, while Link Intime India Private Ltd is the registrar for the issue.

Refer to Medi Assist Healthcare IPO DRHP for detailed information.

Medi Assist Healthcare IPO Details

IPO Date January 15, 2024 to January 17, 2024
Listing Date January 23, 2024
Face Value ₹5 per share
Price Band ₹397 to ₹418 per share
Lot Size 35 Shares
Total Issue Size28,028,168 shares
(aggregating up to ₹1,171.58 Cr)
Offer for Sale28,028,168 shares of ₹5
(aggregating up to ₹1,171.58 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE
Share holding post issue68,859,212

Medi Assist Healthcare IPO Reservation

Medi Assist Healthcare IPO offers 28,028,168 shares. 5,605,634 (20.00%) to QIB, 4,204,226 (15.00%) to NII, 9,809,859 (35.00%) to RII and 8,408,449 (30.00%) to Anchor investors. 280,281 RIIs will receive minimum 35 shares and 2,860 (sNII) and 5,720 (bNII) will receive minimum 490 shares. (in case of oversubscription)

Investor Category Shares OfferedMaximum Allottees
Anchor Investor Shares Offered8,408,449 (30.00%)NA
QIB Shares Offered5,605,634 (20.00%)NA
NII (HNI) Shares Offered4,204,226 (15.00%)
  bNII > ₹10L2,802,817 (10.00%)5,720
  sNII < ₹10L1,401,409 (5.00%)2,860
Retail Shares Offered9,809,859 (35.00%)280,281
Total Shares Offered28,028,168 (100%)

Medi Assist Healthcare IPO Anchor Investors Details

Medi Assist Healthcare IPO raises Rs 351.47 crore from anchor investors. Medi Assist Healthcare IPO Anchor bid date is January 12, 2024. Medi Assist Healthcare IPO Anchor Investors list

Bid Date January 12, 2024
Shares Offered 8,408,449
Anchor Portion Size (In Cr.) 351.47
Anchor lock-in period end date for 50% shares (30 Days) February 17, 2024
Anchor lock-in period end date for remaining shares (90 Days) April 17, 2024

Medi Assist Healthcare IPO Timeline (Tentative Schedule)

Medi Assist Healthcare IPO opens on January 15, 2024, and closes on January 17, 2024.

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 Tuesday, January 23, 2024
Cut-off time for UPI mandate confirmation 5 PM on January 17, 2024

Medi Assist Healthcare IPO Lot Size

Investors can bid for a minimum of 35 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 35 ₹14,630
Retail (Max) 13 455 ₹190,190
S-HNI (Min) 14 490 ₹204,820
S-HNI (Max) 68 2,380 ₹994,840
B-HNI (Min) 69 2,415 ₹1,009,470
Lot Size Calculator

Medi Assist Healthcare IPO Promoter Holding

The promoters of the Company are Dr Vikram Jit Singh Chhatwal, Medimatter Health Management Private Limited and Bessemer India Capital Holding II Ltd.

Share Holding Pre Issue 67.55%
Share Holding Post Issue 45.75%

About Medi Assist Healthcare Services Limited

Incorporated in June 2002, 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 Financial Information (Restated Consolidated)

Medi Assist Healthcare Services Limited's revenue increased by 25.95% and profit after tax (PAT) rose by 18.66% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended30 Sep 202331 Mar 202331 Mar 202231 Mar 2021
Assets802.62705.72602.23545.30
Revenue312.03518.96412.02345.57
Profit After Tax45.2675.3163.4738.01
Net Worth416.64383.67339.29292.55
Reserves and Surplus102.03353.86308.63295.81
Amount in ₹ Crore

Key Performance Indicator

The market capitalization of Medi Assist Healthcare IPO is Rs 2878.32 Cr.

KPI Values
ROCE24.95%
RoNW19.63
P/BV0
Pre IPO Post IPO
EPS (Rs) 10.9413.15
P/E (x) 38.2231.8
Note:
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2023 that is available in RHP.

Objects of the Issue (Medi Assist Healthcare IPO Objectives)

The object of the Offer is to achieve the benefits of listing the Equity Shares on the Stock Exchanges. The company expects that listing the Equity Shares will enhance its visibility and brand and provide liquidity to its existing Shareholders. The listing will also provide a public market for the Equity Shares in India. The company will not receive any proceeds from the Offer. All proceeds from the Offer will go to the Selling Shareholders, in proportion to the Equity Shares offered by them in the Offer for Sale.

Medi Assist Healthcare IPO Review (Apply)

[Dilip Davda]  The company is a unique player in third party administration business in the insurance segment and its scope is widening with more health care business is being inked with rising awareness. The company will be back on track once all recent acquisition settlements are in place. Post listing, this company will attract fancy as the first mover in the segment. Investors may park funds for the medium to long term rewards in this sunrise industry. Read detail review...


Medi Assist Healthcare IPO Subscription Status (Bidding Detail)

The Medi Assist Healthcare IPO is subscribed 16.25 times on January 17, 2024 5:08:00 PM. The public issue subscribed 3.19 times in the retail category, 40.14 times in the QIB category, and 14.85 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB40.14
NII14.85
    bNII (bids above ₹10L)17.22
    sNII (bids below ₹10L)10.12
Retail3.19
Total16.25

Total Application : 745,684 (2.66 times)

Medi Assist Healthcare IPO Prospectus

Medi Assist Healthcare IPO Rating

26
4.3
Rating:Rated 4.3 stars
Vote Here ...

Medi Assist Healthcare IPO Listing Details

Listing Date January 23, 2024
BSE Script Code 544088
NSE Symbol MEDIASSIST
ISIN INE456Z01021
Final Issue Price ₹418 per share

Pre-Open Session - NSE Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade
BSE
₹418.00
₹465.00
₹446.00
₹509.60
₹464.25
NSE
₹418.00
₹460.00
₹445.00
₹518.00
₹464.10

Check IPO Performance…

Medi Assist Healthcare Services Limited Contact Details

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 IPO Registrar

Link Intime India Private Ltd

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

Medi Assist Healthcare IPO - Buy or Not

Medi Assist Healthcare IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 5 2 0
Members 0 0 1

Read All Reviews Post Your Review Manage Reviews

Medi Assist Healthcare IPO FAQs

Medi Assist Healthcare IPO is a main-board IPO of 28,028,168 equity shares of the face value of ₹5 aggregating up to ₹1,171.58 Crores. The issue is priced at ₹397 to ₹418 per share. The minimum order quantity is 35 Shares.

The IPO opens on January 15, 2024, and closes on January 17, 2024.

Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Zerodha customers can apply online in Medi Assist Healthcare IPO using UPI as a payment gateway. Zerodha customers can apply in Medi Assist Healthcare IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Medi Assist Healthcare IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Medi Assist Healthcare IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Medi Assist Healthcare IPO opens on January 15, 2024 and closes on January 17, 2024.

Medi Assist Healthcare IPO lot size is 35 Shares, and the minimum amount required is ₹14,630.

You can apply in Medi Assist Healthcare IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Medi Assist Healthcare IPO will be done on Thursday, January 18, 2024, and the allotted shares will be credited to your demat account by Friday, January 19, 2024. Check the Medi Assist Healthcare IPO allotment status.

The Medi Assist Healthcare IPO listing date is on January 23, 2024.
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Medi Assist Healthcare IPO Message Board

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1504 Comments

560. Ashoka |   Link |  Bookmark |February 13, 2024 4:36:38 PM
2.Medi Assist Q3 Results :

Rev : 125 ➡️166 cr
EBITDA : 31 ➡️34 cr
Margin : 24.8 ➡️20.4%
PAT : 21.5 ➡️21.2 cr
559. SMEARV |   Link |  Bookmark |February 8, 2024 11:19:57 PM (400+ Posts)
Result of 3rd quarter is on 13 Feb 2024
558. Vnrao |   Link |  Bookmark |February 5, 2024 7:18:33 PM
Top Contributor Top Contributor (500+ Posts, 100+ Likes)
A First mover and Market leader with Zero. Having lowest PE among peers. Will show real strength after absorbing Anchor lock-in period end date(17.02.24) 50% share sale.
557. TIPSY |   Link |  Bookmark |February 5, 2024 3:59:26 PM
Holding 1 HNI, if it creates a good base between 490-540 will take another big position.
556. whiteFox |   Link |  Bookmark |February 5, 2024 1:27:57 PM
IPO Mentor IPO Mentor (600+ Posts, 200+ Likes)
Good rally today
555. Goonj |   Link |  Bookmark |February 5, 2024 12:16:12 PM
I am still holding the shares of Medi Assist. Any suggestions on the holding period/target price?
555.1. CA Dhiraj Ramchandani |   Link |  Bookmark |February 5, 2024 12:23:23 PM
IPO Guru IPO Guru (1200+ Posts, 700+ Likes)
That depends on your holding feasibility. This stock will rally to 600 in short period, if you can hold, please hold. If you need funds for another IPO or there's another financial requirements, you can exit, as this has now given decent returns already.
555.2. GunjanN |   Link |  Bookmark |February 5, 2024 12:53:22 PM
554. sagar dasa |   Link |  Bookmark |February 5, 2024 10:20:07 AM
Rally just started
553. whiteFox |   Link |  Bookmark |February 2, 2024 5:22:08 AM
IPO Mentor IPO Mentor (600+ Posts, 200+ Likes)
Moved little bit....good thing
552. kalki |   Link |  Bookmark |January 27, 2024 8:49:39 AM (200+ Posts)
Cashless facility at all hospital. Will it impact TPA business??
https://www.businesstoday.in/personal-finance/insurance/story/network-restrictions-lifted-with-cashless-everywhere-now-access-any-hospital-for-seamless-treatment-under-your-health-insurance-policy-414781-2024-01-24

551. Unknown Man |   Link |  Bookmark |January 25, 2024 2:49:06 PM
I bought another lot today around 444... Let's see.

Will now wait for the results or any announcement.
550. Kaybee |   Link |  Bookmark |January 25, 2024 9:05:06 AM
What are the near term prospects of this share?
550.1. Unknown Man |   Link |  Bookmark |January 25, 2024 2:47:58 PM
Short term may not give much... Wait for atleast two quarter results
549. sagar dasa |   Link |  Bookmark |January 25, 2024 1:50:15 PM
Hi Guys
Don’t loose hopes.. Wait patiently for the target of 700
548. Anshujii |   Link |  Bookmark |January 24, 2024 10:23:04 PM
Top Contributor Top Contributor (700+ Posts, 100+ Likes)
Medi assist - meeting with DIi’s on Jan 24 and 25 ✅

547. IPO Learning |   Link |  Bookmark |January 24, 2024 11:05:41 AM
SBI life took 6 % stake . Big news

547.2. Sunny adlakha |   Link |  Bookmark |January 24, 2024 3:57:56 PM
Arre bhai anchor invester h ye
547.3. UjwalG |   Link |  Bookmark |January 24, 2024 5:33:13 PM
IPO Guru IPO Guru (1300+ Posts, 600+ Likes)
Buddy @Sunny adlakha They were anchor investors for ~5lk shares. Shareholding pattern shows 30lk shares that too 4.4% of total shares. And the exchange notice shows 6% stake so they scooped up more during qib/open market
546. Mrt |   Link |  Bookmark |January 23, 2024 11:14:19 PM
@newgen consultancy Sir what is your post listing strategy for this ipo...I am holding 3 lot
545. Unknown Man |   Link |  Bookmark |January 23, 2024 3:41:34 PM
Was allotted one lot, bought 1 more today... Let's see.
545.1. Unknown Man |   Link |  Bookmark |January 23, 2024 9:55:23 PM
Good to see so many bulk deals from good names. This should perform better.. but given the broad based market correction.. we may still get good bargains over next few days.
544. Dr balu |   Link |  Bookmark |January 23, 2024 8:33:23 PM
Thank you
543. Earthking |   Link |  Bookmark |January 23, 2024 6:05:03 PM
IPO Guru IPO Guru (1300+ Posts, 500+ Likes)
BULK      23-JAN-2024      CANARA ROBECO MUTUAL FUND      BUY      20,01,000      489.02      -
BULK      23-JAN-2024      WHITEOAK CAPITAL MUTUAL FUND      BUY      4,53,103      462.15      -
BULK      23-JAN-2024      TNTBC AS THE TRUSTEE OF NOMURA INDIA STOCK MOTHER FUND      BUY      5,00,000      465.56      -
BULK      23-JAN-2024      BNP PARIBAS ARBITRAGE      BUY      3,65,126      462.28      -
BULK      23-JAN-2024      NK SECURITIES RESEARCH PRIVATE LIMITED      BUY      3,61,595      471.07      -
BULK      23-JAN-2024      GOLDMAN SACHS FUNDS - GOLDMAN SACHS INDIA EQUITY PORTFOLIO      BUY      15,34,472      468.65      -
BULK      23-JAN-2024      NK SECURITIES RESEARCH PRIVATE LIMITED      SELL      3,61,595      471.36      -
BULK      23-JAN-2024      RAJASTHAN GLOBAL SECURITIES PVT LTD      SELL      3,94,999      460.00      -

So many MFs entered ... also delivery volume is too good ... as @Lokesh Chiru  mentioned all weak hands exited ... share cornered by strong hands ... may go long way ...
543.2. UjwalG |   Link |  Bookmark |January 23, 2024 6:14:51 PM
IPO Guru IPO Guru (1300+ Posts, 600+ Likes)
Almost 45 lk buy volume !! Ofcourse some QIBs sold.
But if i assume that any QIBs didnt, then this volume is half of total retail volume available (98lk shares).
Just comparing for better visualization.
543.3. ValueSeeker |   Link |  Bookmark |January 23, 2024 7:28:53 PM
IPO Guru IPO Guru (1500+ Posts, 600+ Likes)
To add to it, 70% delivery volume!
It's rare on listing day, specially when it wasn't frozen in circuit.
This spells good times for those who didn't completely exit today, in my opinion.
542. Dr balu |   Link |  Bookmark |January 23, 2024 12:50:17 PM
How to find OFS allotment in NHPC
542.1. Ankur Goel |   Link |  Bookmark |January 23, 2024 7:17:04 PM
IPO Guru IPO Guru (1300+ Posts, 600+ Likes)
If you got allotment, it must be available in your holding.
541. Param Patel |   Link |  Bookmark |January 23, 2024 6:00:36 PM
IPO Mentor IPO Mentor (700+ Posts, 400+ Likes)
Intersting names 👍🏻