Introduction (Medi Assist IPO):
Medi Assist Health Services Ltd, a leading health-tech and insurtech company, is set to launch its Initial Public Offering (IPO) on January 15, 2024. The IPO, which will close on January 17, 2024, is entirely an offer for sale (OFS) by existing shareholders, with no fresh issue component. The company has appointed Axis Capital, Nuvama WealthManagement, IIFL Securities, and SBI Capital Markets as trader investors to exhort on the Initial public offering.
Medi Assist IPO Healthcare Services, a leading provider of third-party administration services insurance companies, is to launch its Initial Public Offering (O) on January 15, 2024. The IPO, with a price band of Rs 397-418 per share, will see the unloading of shares worth Rs 536 crore by existing investors, including Bessemer India and Investcorp, in the anchor book and public issue.
The anchor book, which is a part of the qualified institutional buyers (QIB) portion, will open on January 12, 2024, for one day. The IPO comprises an offer-for-sale (OFS) of 2.8 crore equity shares by selling shareholders, with no fresh issue component.
Medi Assist Healthcare Services Ltd offers third-party administration (TPA) services to insurance companies through its three wholly owned subsidiaries, Medi Assist TPA, Medvantage TPA, and Raksha TPA.The organization is a facilitator between insurance agency and their policyholders, insurance agencies and medical services suppliers, and the government and beneficiaries of general well-being plans. Medi Assist TPA had a market share of 14.83 percent of the retail health insurance market and 41.71 percent of the group health insurance market in FY23.
The IPO price band has been fixed at Rs 397-418 per equity share, with a face value of Rs 5. The company has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. The lot size is 35 equity shares, and the basis of allotment of shares will be finalized on January 18, 2024. The company’s shares will be listed on the BSE and NSE on January 22, 2024.
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The Medi Assist IPO consists of an OFS by investors and promoters, who plan to sell 2.8 crore shares of the company. The selling shareholders include Dr. Vikram Jit Singh Chhatwal, Medimatter Health Management Private Limited, Bessemer India Capital Holding II Ltd, Bessemer Health Capital LLC, and Investcorp Private Equity Fund I. The book running lead managers of the Medi Assist IPO are Axis Bank Limited, IIFL Securities Limited, Nuvama Wealth Management Limited, and SBI Capital Markets Limited. The registrar of the offering is Link Intime India Private Ltd.
As of September 30, 2023, the company has established a pan-India healthcare provider network that includes 18,754 hospitals spread across 1,069 cities and towns, 31 states (including union territories), and 141 countries worldwide. Medi Assist IPO Healthcare Services Limited offers insurance companies third-party administration services through its wholly owned subsidiaries, Medvantage TPA, Raksha TPA, and Medi Assist IPO. The association gives additional medical care and subordinate organizations, for example, hospitalization, call center, customer relations, contract management, billing, and claims processing administrations.
In conclusion,
The Medi Assist IPO is a huge occasion in the Indian medical services and protection areas. The organization’s strong money-related Execution, expansive clinical benefits provider association, and focus on development-driven plans make it a charming endeavor and an astounding entryway. Investors hoping to take part in the Initial public offering ought to painstakingly consider the organization’s financials, development possibilities, and valuation before pursuing an Investment choice
Disclaimer: We advise investors to check with certified experts before making any investment decision.
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