Medi Assist Healthcare Services Limited IPO : Key Dates

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 :

1. Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
2. Click the Medi Assist Healthcare Services Limited IPO button and press the BID button.
3. Entering the details asked for like UPI ID, Quantity and price.
4. Submit the application form for the IPO.
5. 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.