Medi Assist Healthcare Services Limited
IPO Details
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Lot Distribution
Reservation
Company Fin.
₹34(8.13%)
Premium (ELP)
Following its successful public offering, Medi Assist Healthcare Services Limited's made its market debut on Jan 23, 2024 and is now actively traded on the NSE, BSEplatform. The IPO mobilized 2,80,28,168 Shares in total capital, including TBD in primary equity infusion and ₹1171.58 Cr in secondary share sales.
The offering was structured with a price band of ₹397 to ₹418 and minimum investment lots of 35 shares. Investor participation during the subscription window from Jan 15, 2024 to Jan 17, 2024 demonstrated market confidence in the company's prospects.
The allotment process concluded on Jan 18, 2024, allocating shares to successful bidders. The listing represents the culmination of the IPO process, transitioning the company to publicly traded status with enhanced transparency and governance standards.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Incorporated in June 2002, Medi Assist Healthcare Services Limited is a health-tech and insurance-tech company specializing in managing health benefits for employers, retail members, and public health schemes, primarily serving insurance companies. The company facilitates medical insurance and cashless hospitalization through a vast network of healthcare service providers while acting as a mediator between insurance companies, insured members, healthcare providers, and government health schemes. As of March 31, 2023, Medi Assist collaborated with 36 insurance companies in India and globally, maintaining a healthcare network of over 14,000 hospitals across 967 cities and towns in 32 states and union territories. The company generated ₹494.68 million, ₹579.84 million, and ₹570.29 million in revenue from its retail portfolio in FY 2021, 2022, and 2023, respectively, accounting for 15.33%, 14.72%, and 11.29% of total customer contract revenue. In FY 2023, the company processed 5.27 million claims, including 2.44 million in-patient and 2.83 million out-patient claims.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
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