Medi Assist Healthcare Services is scheduled to hit the market on January 15, 2024 and close on January 17, 2024. Medi Assist Healthcare Services plans to raise around ₹1,171.58 Cr through an IPO with a sale of up to 28,028,168 equity shares of ₹5 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.
Established in June 2002, Medi Assist Healthcare Services Limited operates at the intersection of health technology and insurance technology. The firm specializes in orchestrating health benefits for employers, individual consumers, and public health initiatives, primarily catering to insurance firms.
Medi Assist facilitates medical insurance and streamlines cashless hospitalization by leveraging its extensive network of healthcare providers. Beyond this, the company plays a pivotal role as an intermediary, bridging the gap between insurance entities and their policyholders, forging connections between insurance firms and healthcare establishments like hospitals, and facilitating collaborations between governmental bodies and beneficiaries of public health initiatives. As of March 31, 2023, Medi Assist Healthcare has cultivated partnerships with 36 insurance companies, both domestically and internationally.
Medi Assist Healthcare Services IPO Details
Medi Assist Healthcare Services IPO opens on Jan 15, 2024, and closes on Jan 17, 2024. The Listing date for Medi Assist Healthcare Services IPO is on Jan 22, 2024. The price band for IPO is ₹397 to ₹418 per share and lot size of 35 Shares.
| IPO Date | Jan 15, 2024 to Jan 17, 2024 |
| Listing Date | Jan 22, 2024 |
| Price | ₹397 to ₹418 per share |
| Lot Size | 35 Shares |
| Issue Size | ₹1,171.58 Cr |
| Face Value | ₹5 per share |
Medi Assist Healthcare Services IPO Tentative Timetable
Medi Assist Healthcare Services opening date is January 15, 2024 and close date is January 17, 2024. The IPO allotment date is January 18, 2024. The refund initiation of IPO is on January 19, 2024. The credit of shares in demat account is on January 19, 2024. The listing date is on January 22, 2024.
| Event | Date |
|---|---|
| IPO Opening | Jan 15, 2024 |
| IPO Closing | Jan 17, 2024 |
| IPO Allotment Date | Jan 18, 2024 |
| Refund Initiation | Jan 19, 2024 |
| Shares Credit to Demat | Jan 19, 2024 |
| Lisiting Date | Jan 22, 2024 |
Medi Assist Healthcare Services IPO Lot Size
Lot Size of this IPO is 35 shares. A retail-individual investor can apply for up to 13 lots (455 shares or ₹190,190).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 35 | ₹14,630 |
| Retail(Maximum) | 13 | 455 | ₹190,190 |
| S-HNI (Minimum) | 14 | 490 | ₹204,820 |
| B-HNI (Minimum) | 69 | 2415 | ₹1,009,470 |
Medi Assist Healthcare Services IPO Promoter Holding
| Pre Issue Share Holding | 67.55% |
| Post Issue Share Holding | 45.75% |
Medi Assist Healthcare Services IPO Review
Medi Assist Healthcare Services Limited has positioned itself as a pivotal entity within India's healthcare services landscape. By March 31, 2023, the company had meticulously constructed an extensive healthcare network, boasting ties with over 14,000 hospitals across 967 cities and towns spanning 32 states and union territories. This vast network underscores the company's commitment to providing widespread healthcare accessibility. Moreover, the company's operational prowess is evident from its significant claims settlement in FY2023, where they managed 5.27 million claims, balancing both in-patient and out-patient categories adeptly.
From a financial perspective, Medi Assist Healthcare Services Limited has exhibited robust growth trajectories. The fiscal year 2023 witnessed a substantial 25.95% uptick in revenue, coupled with a commendable 15.3% rise in profit after tax compared to the preceding fiscal year. Such financial stability and growth indicators underscore the company's operational efficiency and strategic positioning within the market.
Delving into the specifics of the IPO, the primary objective for Medi Assist Healthcare is to leverage the benefits of being listed on the Stock Exchanges. The anticipated listing aims to bolster the company's visibility, enhance brand recognition, and furnish liquidity to its existing shareholders. However, it's noteworthy that all proceeds from this IPO will be directed to the Selling Shareholders, allowing them to capitalize on the market's potential while offering interested investors a stake in this growing healthcare entity.
Medi Assist Healthcare Services IPO Subscription Status (Bidding Details)
Table not foundMedi Assist Healthcare Services IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Medi Assist Healthcare Services IPO FAQs
What is Medi Assist Healthcare Services IPO?
Medi Assist Healthcare Services is issuing 28,028,168 equity shares with a face value of ₹5 each, totaling up to ₹1,171.58 Cr. The shares are being offered at a price of ₹397 to ₹418 each, with a minimum order quantity of 35 shares.
Link Intime India Private Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Medi Assist Healthcare Services IPO will open?
Medi Assist Healthcare Services will open on January 15, 2024 for QIB, NII, and Retail Investors.
When Medi Assist Healthcare Services IPO will end?
Medi Assist Healthcare Services will end on January 17, 2024.
What is Medi Assist Healthcare Services IPO Size?
Medi Assist Healthcare Services IPO size is ₹1,171.58 Cr.
What is Medi Assist Healthcare Services IPO Price Band?
Medi Assist Healthcare Services price band is ₹397 to ₹418 per share.
What is the Medi Assist Healthcare Services IPO Allotment Date?
Medi Assist Healthcare Services allotment date is January 18, 2024.
What is the Medi Assist Healthcare Services IPO Listing Date?
Medi Assist Healthcare Services listing date is January 22, 2024. The IPO is to be listed on BSE and NSE.
How to Medi Assist Healthcare Services IPO through Zerodha?
To apply for the IPO “Medi Assist Healthcare Services” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Medi Assist Healthcare Services IPO through Upstox?
To apply for the IPO “Medi Assist Healthcare Services” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Medi Assist Healthcare Services IPO Allotment Status?
For Medi Assist Healthcare Services IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Medi Assist Healthcare Services IPO GMP?
You can check out here: Medi Assist Healthcare Services IPO GMP