Medi Assist Healthcare Services Limited IPO is set to launch on 15 January, 2024. The company initiated its business operations in the year 2002. It is a health tech and insurance tech company. The company’s work is to manage health benefits for retail members, employers, public health schemes etc. It does all its work through a network of healthcare services providers. The company acts as a mediator between insurance companies and healthcare providers, insurance companies and their insured members, government and beneficiaries for a public health scheme. Its work has been running through a collaboration with 36 companies as of now. The network of the firm is spread across 14000 hospitals in 32 states and union territories. It settled 5.27 million claims in 2023.
Medi Assist Healthcare Services Limited IPO DETAILS
Medi Assist Healthcare Services Limited IPO is set to launch on 15 January, 2024. The subscription timeline extends till 17 January, 2024. The size for the IPO is 1171.58 Crore Rs. No shares are issued through fresh issue mode. Shares issued through offer for sale mode are worth Rs 1171.58 Crore. The lot size is 35 shares and the price is 397 Rs to 418 Rs per share. The company is going to get listed at both NSE and BSE. The face value per share is Rs. 5 and this is a Book Built issue. The registrar for the company is Link Intime India Private Limited.
Tabular Description of Medi Assist Healthcare Services Limited IPO
| IPO OPENING DATE | 15 January, 2024 |
| CLOSING DATE FOR IPO | 17 January, 2024 |
| ISSUE TYPE | Book Built Issue |
| Face Value per share | 5 Rs. per share |
| IPO price band | 397 Rs. to 418 Rs. per share |
| LOT SIZE | 35 shares |
| MINIMUM ORDER QUANTITY | 35 shares |
| ISSUE SIZE | 1171.58 Crore Rs. |
| OFFER FOR SALE | 1171.58 Crore Rs. |
| FRESH ISSUE | No shares are issued through fresh issue mode |
| LISTING AT | NSE, BSE |
| LISTING DATE | 22 January, 2024 |
Medi Assist Healthcare Services Limited IPO : IMPORTANT DATES
| IPO OPENING DATE | 15 January, 2024 |
| CLOSING DATE FOR IPO | 17 January, 2024 |
| IPO ALLOTMENT DATE | 18 January, 2024 |
| REFUNDS | 19 January, 2024 |
| DEMAT A/C CREDITED ON | 19 January, 2024 |
| IPO LISTING DATE | 22 January, 2024 |
Medi Assist Healthcare Services Limited IPO begins for subscription from 15 January, 2024. The IPO subscription would continue till 17 January, 2024. The allotment status for the shareholders who applied would come on 18 January, 2024. The refunds for the ones who did not get allotment would be initiated on 19 January, 2024. The DEMAT accounts of shareholders would be credited on 19 January, 2024. The listing of the company would be completed on 22 January, 2024.
Medi Assist Healthcare Services Limited IPO : Lead Managers
The lead managers are :
- IIFL Securities Limited
- Axis Bank Limited
- SBI Capital Markets Limited
- Nuvama Wealth Management Limited
The minimum lot size for the company is decided at 35 shares. This holding accounts to 14630 Rs.. The maximum lot size is decided at 455 shares. This amounts to 190190 Rs.. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | 35 shares | 14630 Rs. |
| Maximum | 455 shares | 190190 Rs. |
OBJECTIVES FOR THE IPO
- IPO proceeds would be used for general corporate purposes.
- The company will use the IPO money for further working capital requirements.
- With the IPO money the company might pay its outstanding loans.
COMPANY FINANCIALS
| Particularly (in Crore Rs.) | 2020-21 | 2021-22 | 2022-23 |
| ASSETS | 545 | 602 | 705 |
| Revenue | 345 | 412 | 518 |
| PAT | 38 | 63 | 75 |
Medi Assist Healthcare Services Limited had an asset base of 545 Crore Rs in 2021 which increased to 602 Crore Rs in 2022. The asset base of the company was 705 Crore Rs in 2023. The revenue of the firm was 345 Crore Rs in 2021 which increased to 412 Crore rs in 2021 and 518 Crore Rs in 2023. The profit of the firm was 38 Crore Rs in 2021 which increased to 63 Crore Rs in 2022 and 75 Crore Rs in 2023.
PROS
- The company’s work is to manage health benefits for retail members, employers, public health schemes etc.
- It does all its work through a network of healthcare services providers.
- The company acts as a mediator between insurance companies and healthcare providers, insurance companies and their insured members, government and beneficiaries for a public health scheme.
- Its work has been running through a collaboration with 36 companies as of now.
- The network of the firm is spread across 14000 hospitals in 32 states and union territories.
- It settled 5.27 million claims in 2023.
Medi Assist Healthcare Services Limited IPO Application Process with Zerodha
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the Medi Assist Healthcare Services Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
