Medi Assist Healthcare Services Ltd IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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Medi Assist Ser.

CMP

583.05

-2.70 (-0.46%)

  • DRHP
₹418

Offer Price

₹ 1,171.58 Cr

Issue Size

₹ 14,630

Min Investment

16.25x

Times Subscribed

35

Lot size

Time Line

  • 15
    Jan 2024
    Open
  • 17
    Jan 2024
    Close
  • 18
    Jan 2024
    Finalisation of Basis of Allotment
  • 19
    Jan 2024
    Initiation of Refunds
  • 19
    Jan 2024
    Transfer of Shares to Demat Account
  • 23
    Jan 2024
    Listing Date

Shares Offered

Number of Times Subscribed

Objects of the Offer

  • Maintain its Leadership Position among Group Accounts.

  • Continue Pursuing Inorganic Growth Opportunities.

  • Continue to Enhance its Technology Platforms.

  • To Increase its Share in the Retail Segment.

Products & Services

  • The Company processes health insurance claims for insurance companies and provides services such as policy administration, customer service and network management, among others.

Strengths

  • Well Established Third Party Administrator in India.

  • Scalable technology-enabled infrastructure addressing the needs of all constituents of the health insurance ecosystem.

  • Longstanding relationships with Indian insurance companies.

  • Diversified base of Group Accounts with strong relationships.

  • Attractive contracts with a pan-India healthcare provider network to provide discounted rates and/or preferential packages to its customers.

Risks

  • The company`s inability to effectively manage and expand its network of healthcare providers may have an adverse effect on its business, results of operations and financial condition.

  • The company derives a significant portion of its revenues from a limited number of clients and the loss of one or more such clients could adversely affect its business and prospects.

  • The report of the previous statutory auditors of the Company and one of its Subsidiaries, Medi Assist TPA, contains certain disclaimers of opinion, and the reports of the current statutory auditors of the Company and one of the Subsidiaries, Medi Assist TPA, contain other matter and emphasis of matter paragraphs, as applicable.

  • The company`s business is significantly dependent on group accounts in certain industries, and any adverse developments affecting such industries may adversely affect its business and results of operations. In addition, any termination or adverse change in the company relationship or arrangements with insurance companies or corporates could adversely affect its business, results of operations and financial condition.

  • The company has acquired certain entities in the recent past, including outside of India, and may continue to do so in the future. Any failure to realize the anticipated benefits of its acquisitions may have an adverse effect on the company business, results of operations, financial condition and cash flows.

Company Promoters

Promoters Holding

Issue For IPO
21.80%
Pre Holding

67.55%

Post Holding

45.75%

Top Promoters Holding

Financials

All values in Cr

Mar-2021 Mar-2022 Mar-2023 3-Yr trend
Revenue 325.65 (-) 393.81 (20.90%) 504.93 (28.20%)
Gross Profit 325.65 (-) 393.81 (20.90%) 504.93 (28.20%)
Net Income 325.65 (-) 393.81 (20.90%) 504.93 (28.20%)
Assets 325.65 (-) 393.81 (20.90%) 504.93 (28.20%)
Liabilities 325.65 (-) 393.81 (20.90%) 504.93 (28.20%)

Book Running Managers

  • Axis Capital Ltd
  • IIFL Securities Ltd
  • SBI Capital Markets Ltd
  • Nuvama Wealth Management Ltd

Registrar & Transfer Agent

Link Intime India Pvt Ltd

C-101 247 Park,
L B S Marg,
Vikhroli West - Mumbai-400083
Phone : 91-22-49186000 Fax: 91-22-49186060

Company Contact Information

Tower D4th Floor IBC Knowledge,
Park,4/1 Bannerghatta Road,
Bengaluru - 560029
Phone : +91 80 6919 0000 Email : investor.relations@mediassist.in www.mediassist.in

Offer Related Information

Initial public offering of 28,028,168* equity shares of face value of Rs. 5 each (the "Equity Shares") of Medi Assist Healthcare Services Limited ("The Company" or "The Company" or "The Issuer") for cash at a price of Rs. 418 per equity share (the "Offer Price") aggregating to Rs. 1171.58 crores (the "Offer") comprising an offer for sale of 2,539,092* equity shares aggregating to Rs. 106.13 crores by Vikram Jit Singh Chhatwal, 12,468,592** equity shares* aggregating to Rs. 521.19 crores by... More

News

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