The initial public offering (IPO) of Medi Assist Healthcare will open for subscription on January 15. The issue closes on January 17. The company’s shares are expected to get listed on both the exchanges. Here are 10 things to know about the offer.
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What is the business overview of Medi Assist Healthcare?Medi Assist Healthcare provides third party administration services to insurance companies through its wholly owned subsidiaries. A third party administrator is an organization that processes health insurance claims for insurance companies and provides services such as policy administration, customer service and network management, among others.
What is the industry overview of Medi Assist Healthcare?As of September 2023, 16 third party administrators operate in India, providing services to public and private health insurance companies. Their services help improve efficiency and reduce costs for insurance companies while providing valuable support and assistance to policyholders.
What is the size of Medi Assist Healthcare IPO?The issue is completely an offer for sale of 2.8 crore shares.
What is the price band for Medi Assist Healthcare IPO?Medi Assist Healthcare has fixed a price band of Rs 397-418 per share for its IPO. Investors can bid for 35 shares in 1 lot and in multiples thereafter.
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What is the structure of Medi Assist Healthcare IPO?About 50% of the offer is reserved for qualified institutional buyers (QIBs), 35% for retail investors and 15% for non-institutional investors.
How is the financial performance of Medi Assist Healthcare?For the six months ended September 2023, the company’s total income rose 26% year-on-year to Rs 312 crore, while net profit fell 39% to Rs 22.5 crore.
What are the objects of Medi Assist Healthcare IPO?The company will not receive any funds from the IPO since it is completely an OFS and the entire proceeds will go to the selling shareholders.
What is the current GMP of Medi Assist Healthcare?According to market analysts, the current GMP of Medi Assist Healthcare is Rs 64 in the unlisted market.
Who are the book running lead managers for Medi Assist Healthcare IPO?Axis Capital, IIFL Securities, Nuvama Wealth Management, and SBI Capital Markets are the book running lead managers to the issue.
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When is the share allotment and listing date of Medi Assist Healthcare IPO?The share allotment for the IPO will be finalised on January 18 and the listing date is fixed as January 22.
