January 11, 2024
This is to inform you that Medi Assist Healthcare Services Limited is coming out with a public issue to raise Rs.1172 crore from the market.
The issue opens on January 15 and closes on January 17, 2024.
Details of the Medi Assist Healthcare Services Limited IPO
| Company Details | : |
Medi Assist Healthcare Services Limited (“Medi Assist”) was incorporated on June 7, 2000. Medi Assist is the holding company and conducts its business of providing third-party administration (“TPA”) services to insurance companies through its wholly owned subsidiaries, Medi Assist TPA, Medvantage TPA and Raksha TPA. As a third-party administrator, it acts as a facilitator between (a) insurance companies and their policy holders, (b) insurance companies and healthcare providers (such as hospitals), and (c) the Government and beneficiaries of public health schemes. As a third-party administrator, Medi-Assist act as a facilitator between: Insurance companies and their policy holders, Insurance companies and healthcare providers (such as hospitals), The Government and beneficiaries of public health schemes. Company’s subsidiaries, Medi Assist TPA and Medvantage TPA, contributed to 96.32% of their revenue from contracts with customers in the FY2023 and 92.98% of the revenue from contracts with customers in the 6 months ended September 30, 2023. The company managed ₹14,574.65 crore of health insurance premiums (group and retail) as at the end of FY2023 growing at a CAGR of 35.67% from ₹7,918.49 crore as at the end of FY2021. As of September 30, 2023, they work with 35 insurance companies in India and globally. The company also facilitate other healthcare and ancillary services such as hospitalization services, call centre services, customer relations and contract management services, billing services and claims processing services through their company and their other Subsidiaries. Medi-Assist serviced over 9,500 group accounts across sectors to help administer the insurance requirements of their employees. As of March 31, 2023, Medi Assist TPA and Medvantage TPA managed around ₹12,818 crore of group health insurance premiums, representing 27.61% of India’s overall group health insurance market. The company also service individual insurance policyholders, and for the Financial Year 2023, they managed ₹1,757 crore of premiums for the retail health insurance market, representing 5.06% of the overall retail health insurance market in India. |
| Issue Period | : | Issue opens on: Monday, January 15, 2024 Issue closes on: Wednesday, January 17, 2024 |
| Price Band | : | Rs.397 to Rs.418 per equity share |
| Bid Lot | : | 35 equity shares and in multiple thereafter. |
| Issue Size | : | Rs.1172.00 crore |
| Issue break-up | : | QIB - 50% of the offer – Rs.585.79 crore NIB - 15% of the offer - Rs.175.74 crore RET - 35% of the offer - Rs.410.05 crore |
| Listing | : | NSE and BSE |
| Registrar | : | Link Intime India Private Limited |
| UPI | : | All Retail & NII Bidders (bids up to ₹ 5,00,000) Applications through brokers are compulsorily in UPI Mode |
| Note | : |
|
Watch these 4 videos to know how to apply for the Medi Assist Healthcare Services Limited IPO online easily.
Step 1: Create an UPI ID 
|
||
Step 2: Apply for IPO online using mobile app or website 
|
||
Step 3: Authorise UPI mandate to block payment 
|
Remember these points while applying for IPOs
- With Sharekhan, you can now fill and submit your IPO application online at your convenience anytime before an issue closes. This can be done through the Sharekhan app or website.
- You will need a mobile phone with a SIM linked to your bank account offering the UPI facility and a debit card to create your UPI ID.
- Currently, UPI works on the following mobile applications:
Name of App (Supported Platforms) VPA Handle BHIM Baroda Pay (only Android) @BARODAMPAY BHIM Oriental Pay (Only Android) @obc BHIM RBL Pay (Android & iOS) @rbl BHIM (android & iOS) @upi BHIM ALLBANK UPI (only Android) @allbank BHIM Axis Pay (only android) @axisbank BHIM IndusPay (only Android) @indus BHIM Lotza UPI (only Android) @federal BHIM SBIPay (only android) @sbi Citi Mobile (android & iOS) @citi & @citigold Google Pay (android & iOS) @okhdfcbank | @okaxis | @oksbi | @okicici HSBC Simply Pay (android & iOS) @hsbc iMobile by ICICI Bank (android users) @icici Kotak Mobile Banking App (Android) @kotak Phone-Pe (android & iOS) @ybl SIB Mirror+ (only Android) @sib BHIM YES PAY (only Android) @yesbank DigiBank - DBS (Android & iOS @dbs Paytm (Andriod & iOS) @paytm BHIM AUPay (Android & iOS) @aubank Freecharge (Android & iOS) @freecharge BHIM BANDHAN UPI (Android & iOS) @bandhan BHIM KBL UPI (Android) @kbl Phone-Pe (Android & iOS) @ybl, @axl, @ibl - To avoid rejection, download the latest version of the app.
- Remember to select UPI as the payment option in the IPO application form by providing your UPI ID.
- As soon as you submit your application through the mobile app or website, you will receive an SMS from National Payments Corporation of India (NPCI) informing you that your UPI mandate has been generated.
- The app passcode and the UPI PIN can be different; remember to enter only the UPI PIN while authorising the UPI mandate. Note that you should not share your UPI PIN with anyone.
- If you forget the UPI PIN, simply reset it instead of entering a wrong one.
- If the transaction gets through, you will receive a “Transaction is successful” message on your mobile.
- There are two possible scenarios post-allotment: On full allotment, funds will be debited from your account. If there is no allotment of shares, the blocked funds will be released after the end date or expiry date of the UPI mandate.
| Published by Team Internal Communications |  |
| This newsletter is for internal circulation only. It may not be published, reproduced or quoted in part or in whole, nor may it be published on social media without prior consent. The content is strictly copyright and reproduction of the whole or part of it in any form is prohibited without written permission from the Internal Communications department of Sharekhan. | |
| Join us on |  |
 |
 |
 |
 |
 |