Bookbuilding IPO | ₹1,172 Cr | Listed at BSE, NSE | Mon, Jan 15, 2024 - Wed, Jan 17, 2024
Medi Assist Healthcare IPO is a book build issue of ₹1,171.58 crores. The issue is entirely an offer for sale of 2.80 crore shares of ₹1,171.58 crore.
Medi Assist Healthcare IPO bidding started from Jan 15, 2024 and ended on Jan 17, 2024. The allotment for Medi Assist Healthcare IPO was finalized on Jan 18, 2024. The shares got listed on BSE, NSE on Jan 23, 2024.
Medi Assist Healthcare IPO price band is set at ₹418 per share. The lot size for an application is 35. The minimum amount of investment required by an retail is ₹14,630 (35 shares) (based on upper price). The lot size investment for sNII is 14 lots (490 shares), amounting to ₹2,04,820, and for bNII, it is 69 lots (2,415 shares), amounting to ₹10,09,470.
Axis Bank Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Medi Assist Healthcare IPO RHP for detailed Information.
IPO Open
Mon, Jan 15, 2024
IPO Close
Wed, Jan 17, 2024
Issue Price
₹418 per share
Market Cap (Pre-IPO)
₹2,878.32 Cr
| IPO Date | 15 to 17 Jan, 2024 |
| Listed on | Tue, Jan 23, 2024 |
| Face Value | ₹5 per share |
| Price Band | ₹397 to ₹418 |
| Issue Price | ₹418 per share |
| Lot Size | 35 Shares |
| Sale Type | OFS only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 2,80,28,168 shares (agg. up to ₹1,172 Cr) |
| Offer for Sale | 2,80,28,168 shares of ₹5 (agg. up to ₹1,172 Cr) |
| Share Holding Post Issue | 6,88,59,212 shares |
| BSE Script Code / NSE Symbol | 544088 / MEDIASSIST |
| ISIN | INE456Z01021 |
Medi Assist Healthcare IPO offers total 2,80,28,168 shares. Out of which 1,40,14,083 (50.00%) allocated to QIB, 56,05,634 (20.00%) allocated to QIB (Ex- Anchor), 42,04,226 (15.00%) allocated to NII 98,09,859 (35.00%) allocated to RII and 84,08,449 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Max Allottees |
|---|---|---|
| QIB Shares Offered | 1,40,14,083 (50.00%) | NA |
| − Anchor Investor Shares Offered | 84,08,449 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 56,05,634 (20.00%) | NA |
| NII (HNI) Shares Offered | 42,04,226 (15.00%) | NA |
| − bNII > ₹10L | 28,02,817 (10.00%) | 5,720 |
| − sNII < ₹10L | 14,01,409 (5.00%) | 2,860 |
| Retail Shares Offered | 98,09,859 (35.00%) | 2,80,281 |
| Total Shares Offered | 2,80,28,168 (100.00%) |
Investors can bid for a minimum of 35 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 35 | ₹14,630 |
| Retail (Max) | 13 | 455 | ₹1,90,190 |
| S-HNI (Min) | 14 | 490 | ₹2,04,820 |
| S-HNI (Max) | 68 | 2,380 | ₹9,94,840 |
| B-HNI (Min) | 69 | 2,415 | ₹10,09,470 |
Medi Assist Healthcare IPO raises ₹351.47 crore from anchor investors. Medi Assist Healthcare IPO Anchor bid date is January 12, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Jan 12, 2024 |
| Shares Offered | 84,08,449 |
| Anchor Portion (₹ Cr.) | 351.47 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Feb 17, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Apr 17, 2024 |
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.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 802.62 | 705.72 | 602.23 | 545.30 |
| Total Income | 312.03 | 518.96 | 412.02 | 345.57 |
| Profit After Tax | 45.26 | 75.31 | 63.47 | 38.01 |
| NET Worth | 416.64 | 383.67 | 339.29 | 292.55 |
| Reserves and Surplus | 102.03 | 353.86 | 308.63 | 295.81 |
| Amount in ₹ Crore | ||||
| KPI | |
|---|---|
| ROCE | 24.95% |
| RoNW | 19.63 |
| PAT Margin | 14.51% |
| Price to Book Value | 0.00 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 10.94 | 13.15 |
| P/E (x) | 38.22 | 31.8 |
| Promoter Holding | 67.55% | 45.75% |
| Market Cap | ₹2,878.32 Cr. |
The Medi Assist Healthcare IPO is subscribed 16.25 times on January 17, 2024 5:08:00 PM (Day 3). 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)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 40.14 | 56,05,634 | 22,49,93,755 |
| NII | 14.85 | 42,04,226 | 6,24,42,800 |
| bNII (bids above ₹10L) | 17.22 | 28,02,817 | 4,82,56,740 |
| sNII (bids below ₹10L) | 10.12 | 14,01,409 | 1,41,86,060 |
| Retail | 3.19 | 98,09,859 | 3,13,36,130 |
| Total | 16.25 | 1,96,19,719 | 31,87,72,685 |
Total Application : 7,45,684
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs | 31.60 |
| 2 | Advertising and marketing expenses | 5.91 |
| 3 | Fees payable to the Registrar to the Offer | 0.13 |
| 4 | Commission/processing fee for SCSBs, Sponsor Banks and Banker to the Offer. Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 3.56 |
| 5 | Printing and distribution of issue stationery | 1.96 |
| 6 | Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees | 5.25 |
| 7 | Fees payable to legal counsels | 8.26 |
| 8 | Miscellaneous | 8.84 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹418.00 | ₹418.00 |
| Open | ₹465.00 | ₹460.00 |
| Low | ₹446.00 | ₹445.00 |
| High | ₹509.60 | ₹518.00 |
| Last Trade | ₹464.25 | ₹464.10 |
Medi Assist Healthcare IPO is a main-board IPO of 2,80,28,168 equity shares of the face value of ₹5 aggregating up to ₹1,172 Crores. The issue is priced at ₹418 per share. The minimum order quantity is 35.
The IPO opens on Mon, Jan 15, 2024, and closes on Wed, Jan 17, 2024.
MUFG Intime India Pvt.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
Visit Zerodha IPO Application Process Review for more detail.
The Medi Assist Healthcare IPO opens on Mon, Jan 15, 2024 and closes on Wed, Jan 17, 2024.
Medi Assist Healthcare IPO lot size is 35, and the minimum amount required for application is ₹14,630.
You can apply in Medi Assist Healthcare IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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 Fri, Jan 19, 2024. Check the Medi Assist Healthcare IPO allotment status.
The Medi Assist Healthcare IPO listing date is on Tue, Jan 23, 2024.
