₹14,630 / 35 shares
Medi Assist Healthcare Services IPO Details
Issue Date
15 Jan - 17 Jan'24
Price Range
₹397 - ₹418
Lot Size
35
IPO Size
₹1171.58 Cr
Medi Assist Healthcare Services IPO Listing Details
Listing On
22 Jan'24
Issue Price
₹418
Listed Price
₹ 460
Retail Gain/Listing Gain
▲10.05%
Schedule of Medi Assist Healthcare Services IPO
Start date
15/01/2024
End date
17/01/2024
Allotment of bids
Refund Initiation
19/01/2024
Listing on exchange
22/01/2024
Medi Assist Healthcare Services IPO Review | Insurance Sector | Issue details, strategies and more
Kotak Neo
•3m 30s
Medi Assist Healthcare Company Background
Medi Assist Healthcare Services Limited provides third-party administration services to insurance companies through their wholly-owned subsidiaries.
The company essentially processes health insurance claims for insurance companies and provides services such as policy administration, customer service and network management, among others. As a third party administrator, it acts as a facilitator between insurance companies and their policy holders, insurance companies and healthcare providers (such as hospitals), and the Government and beneficiaries of public health schemes.
Let's take a look at the competitive strengths and risk factors for Medi Assist Healthcare Services Limited:
Competitive Strengths
Well established third party administrator in India
The company’s market-leading position as a third party administrator in India enhances its ability to benefit from the prospects of the health insurance industry, enhances its profitability and strengthens its value proposition due to increasing economies of scale, ability to invest in cutting edge technology and better scale for negotiating with healthcare provider networks.
Attractive contracts with a pan-India healthcare provider network
The company has developed a pan-India healthcare provider network, which, as of September 30, 2023, comprises 18,754 hospitals across 1,069 cities and towns and 31 states (including union territories) in India.
Diversified base of group accounts with longstanding relationships
The company has a diversified base of corporates whose health insurance requirements they service, and have established longstanding relationships with them. The company serviced over 9,500 group accounts with premium under management of Rs. 128,178.66 million for FY23. Premium managed for group accounts has grown at a CAGR of 37.08% between FY21 and FY23.
Risk Factors
- The company is dependent on five large clients for majority revenue.
- The business is significantly dependent on group accounts in certain industries.
- A significant portion of the revenue from contracts with customers are from subsidiaries.
Key Strategies
- Maintain a leadership position among group accounts.
- Continue pursuing inorganic growth opportunities.
- Increase their share in the retail segment.
Medi Assist Healthcare Key financials
Here are the key financials for Medi Assist Healthcare Services Limited:
How to apply for IPO through ASBA
Kotak Neo
•00m 59 s
How To Apply for Medi Assist Healthcare Services Ltd IPO?
Here are the steps to apply for Jyoti CNC Automation Ltd:
Step 1: Log in to your Kotak Neo Demat account Log in to your Demat account to access IPO investments. Next, select the current IPO section.
Step 2: Specify IPO details Enter the number of lots and the price you wish to apply for.
Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.
Step 4: Mandate Notification Your UPI app will receive a mandate notification to block funds.
Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.
Medi Assist Healthcare Services IPO FAQs
The Medi Assist Healthcare Services IPO opens for subscription from 15-01-2024 to 17-01-2024, with a total issue size of ₹1171.58 Cr. The IPO price band is ₹397 to ₹418 per share with a lot size of 35. The company aims to list the shares on BSE & NSE on 22-01-2024.
The Medi Assist Healthcare Services IPO will open for subscription on 15-01-2024 and will close on 17-01-2024 for investors.
The minimum lot size for the Medi Assist Healthcare Services IPO is 35 equity shares, requiring a minimum investment of ₹14630 for retail investors applying in the IPO.
The price band of the Medi Assist Healthcare Services IPO has been fixed at ₹397 to ₹418 per equity share.
You can apply for the Medi Assist Healthcare Services IPO online through the Kotak Neo Website or the Kotak Neo App using UPI or ASBA during the IPO subscription period.
Medi Assist Healthcare Services IPO allotment will take place on [-].
You can check the Medi Assist Healthcare Services IPO allotment status online on the registrar’s website or on the NSE and BSE IPO allotment pages using your application number, PAN, or demat account details.
Medi Assist Healthcare Services shares will list on the stock exchanges on 22-01-2024.
You can find detailed information about the Medi Assist Healthcare Services IPO, including its business operations, financial performance, risk factors, and IPO objectives, in the Draft or Red Herring Prospectus (RHP).
The Medi Assist Healthcare Services Limited IPO has an issue size of Rs. 1,171.58 crores. The IPO opens for subscription on 15th January 2024 and closes on 17th January 2024.
Link Intime India Private Limited is the registrar for this IPO.
You may read more about Medi Assist Healthcare Services Limited and its IPO from the company’s red herring prospectus (RHP) here:
Opening of account will not guarantee allotment of shares in IPO. Investors are requested to do their own due diligence before investing in any IPO.
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