Founded in June 2002, Medi Assist Healthcare Services Limited is a health-tech and insurance-tech company that handles health benefits for employers, individuals, and public health programs, mainly serving insurance companies.
Medi Assist facilitates medical insurance and cashless hospitalization through its network of healthcare providers. It acts as a bridge between insurance companies and their members, insurance companies and healthcare providers, and the Government and beneficiaries of public health schemes. As of March 31, 2023, the company collaborated with 36 insurance companies globally.
The retail portfolio generated revenues of ₹494.68 million, ₹579.84 million, and ₹570.29 million for the financial years 2021, 2022, and 2023, respectively, contributing to a portion of the total revenue.
As of March 31, 2023, Medi Assist has a healthcare network covering over 14,000 hospitals across 967 cities and towns in 32 states and union territories in India.
In FY2023, the company successfully settled 5.27 million claims, including 2.44 million in-patient claims and 2.83 million out-patient claims.
Key Points Regarding Medi Assist Healthcare IPO
| IPO Date | January 15, 2024 to January 17, 2024 |
| Price Band | ₹397 to ₹418 per share |
| Face Value | Rs 5 per share |
| Lot Size | 35 Shares |
| Total Issue Size | 28,028,168 shares (aggregating up to ₹1,171.58 Cr) |
| Listing Date | Monday, January 22, 2024 |
| Listing At | BSE, NSE |
Medi Assist Healthcare IPO Details:
- Book Built Issue: Rs 1,171.58 crores
- Entirely Offer for Sale: 2.8 crore shares
- Subscription Dates:
- Opens: January 15, 2024
- Closes: January 17, 2024
- Allotment Date:
- Expected: Thursday, January 18, 2024
- Listing:
- BSE, NSE
- Tentative Listing Date: Monday, January 22, 2024
- Price Band:
- ₹397 to ₹418 per share
- Application Details:
- Minimum Lot Size: 35 Shares
- Retail Investors: Minimum Investment of ₹14,630
- For sNII (Non-Institutional Investors):
- Minimum Lot Size: 14 lots (490 shares)
- Minimum Investment: ₹204,820
- For bNII (Non-Institutional Investors):
- Minimum Lot Size: 69 lots (2,415 shares)
- Minimum Investment: ₹1,009,470
Medi Assist Healthcare Services Limited Financial Information (Restated Consolidated)
Medi Assist Healthcare Services Limited saw a growth of 25.95% in revenue and an increase of 18.66% in profit after tax (PAT) from the financial year ending on March 31, 2022, to March 31, 2023. (Amount in ₹ Crore)
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 802.62 | 705.72 | 602.23 | 545.30 |
| Revenue | 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 |
Contact Details
Medi Assist Healthcare Services Limited
Tower D, 4th floor, IBC Knowledge Park
4/1 Bannerghatta Road
Bengaluru 560 029
Phone: (+91 80) 6919 0000
Email: [email protected]
Website: https://mediassist.in/
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