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IPO Status: Listed [15th Jan 2024 to 17th Jan 2024]
Medi Assist Healthcare IPO, a Mainline IPO of ₹1171.58 Cr was launced on 15-01-2024 to 17-01-2024 and the shares got listed on BSE, NSE on 23-01-2024.
The public issue of Medi Assist Healthcare IPO (MEDIASSIST,544088) was offered at ₹418.00 per share and the ipo was listed at ₹460. It has delivered listing gain of 10.05%.
As the minimum lot size was 35 shares, the IPO has offered Rs 1470 per lot return on listing.
| IPO Issue Opening Date: | 15th Jan 2024 |
| IPO Issue Closing Date: | 17th Jan 2024 |
| IPO Issue Price: | ₹397.00-418.00 Per Share |
| DRHP: | Download DRHP |
| RHP: | Download RHP |
| Anchor List: | Download Anchor List |
| IPO Listing At: | BSE, NSE |
| Retail Quota: | Not less than 35% of the Net Issue |
| IPO Issue Type: | Book Build Issue |
| IPO Issue Size: | ₹1171.58 Cr |
| Offer for Sale: | ₹1171.58 Cr |
| Face Value: | ₹5 Per Equity Share |
| IPO Discount: | TBD |
| Promoter Holding Pre IPO: | 67.55% |
| Promoter Holding Post IPO: | 45.75% |
| Allotment Status: | Allotment Status |
| BSE Code: | 544088 |
| NSE Code: | MEDIASSIST |
Get important updates regarding Medi Assist Healthcare IPO tentative timeline covering IPO opening, closing, allotment, and listing dates. Dates are updated as they are announced.
| IPO Activity | Date |
|---|---|
| Basis of Allotment Date* | 18th Jan 2024 |
| Refunds Initiation* | 19th Jan 2024 |
| Credit of Shares to Demat* | 19th Jan 2024 |
| IPO Listing Date* | 23rd Jan 2024 |
* - Tentative Dates
| IPO Activity | Date |
|---|---|
| Issue Price | ₹397.00-418.00 |
| Market Lot: | 35 Shares |
| 1 Lot Amount: | ₹14630 |
| Min Small HNI Lots(2-10 Lakh): | 490 shares (14 lots) |
| Min Big HNI Lots(10+ Lakh): | 2415 shares (69 lots) |
| GMP Date | IPO Price | GMP | Sub2 Sauda Rate | Expected Listing Gain | Last Updated |
|---|---|---|---|---|---|
| 23-01-2024 | 418.00 | 34 | 900/12600 | ₹452 (8.13%) | 23-Jan-2024 9:24 |
Zerodha Trade@20
**The GMP prices shown here are only news related to the grey market. We do not trade/deal in grey market or subject to rates (sub2), nor do we recommend trading in grey market.
Incorporated in 2000, Medi Assist Healthcare Services Limited operates as an intermediary between three key groups, namely: (a) general and health insurance companies and their respective insured members, (b) insurance companies and healthcare providers, including reputable hospitals, and (c) the government and beneficiaries of public health schemes.
This organization stands as the largest health benefits administrator in India, managing premiums for both retail and group policies. Specifically, it boasts a market share of 14.83% in the retail health insurance market, and an impressive 41.71% in the group health insurance market. Moreover, Medi Assist currently has a combined retail and group segment share of 33.67%, which is expertly serviced by health benefits administrators.
Medi Assist is renowned for its technology-driven infrastructure and services, which are custom-built to assist various stakeholders. These stakeholders include insurance companies, hospitals, insurance brokers, as well as insurance agents in their day-to-day operations. Their services are scalable, comprehensive, easy to use, and secure. This enables them to provide a highly comprehensive healthcare solution to their customers. Such solutions encompass an extensive in-patient and out-patient network, on-demand health services, robust management of fraud, waste, and abuse, as well as effective medical inflation control.
| Incorporation | Sector | IPO Issue Size | Website |
| 2000 | Health Insurance | ₹1171.58 Cr | https://mediassist.in/ |
The object of the Offer is to achieve the benefits of listing the Equity Shares on the Stock Exchanges. The company expects that listing the Equity Shares will enhance its visibility and brand and provide liquidity to its existing Shareholders. The listing will also provide a public market for the Equity Shares in India. The company will not receive any proceeds from the Offer. All proceeds from the Offer will go to the Selling Shareholders, in proportion to the Equity Shares offered by them in the Offer for Sale.
The table below is live update of IPO bidding details from NSE and BSE.
| Day | QIB | NII | RII | Total | |
|---|---|---|---|---|---|
| # of Shares Offered | 5,605,634 (28.57%) | 4,204,226 (21.43%) | 9,809,859 (50%) | 19,619,719 | |
| 1 | 15th Jan 2024 19:04 | 0.00x | 0.45x | 0.91x | 0.55x |
| 2 | 16th Jan 2024 19:04 | 0.01x | 1.61x | 1.72x | 1.21x |
| 3 | 17th Jan 2024 17:10 | 40.14x | 14.85x | 3.19x | 16.25x |
Medi Assist Healthcare Services Limited's revenue increased by 25.95% and profit after tax (PAT) rose by 18.66% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 802.62 | 705.72 | 602.23 | 545.30 |
| Revenue | 312.03 | 518.96 | 412.02 | 345.57 |
| Profit After Tax | 45.26 | 75.31 | 63.47 | 38.01 |
| Net Worth | 416.64 | 383.67 | 339.29 | 292.55 |
| Reserves and Surplus | 102.03 | 353.86 | 308.63 | 295.81 |
| Amount in ₹ Crore | ||||
The table below show peer comparison from DRHP/RHP.
| Company | EPS Basic | EPS Diluted | NAV | P/E(x) | RoNW | Financial statements |
|---|---|---|---|---|---|---|
| Medi Assist Healthcare Services Limited | 10.94 | 10.94 | 55.72 | 38.22 | 19.63 | Consolidated |
Last Updated on 27-Jan-2024 06:02:43
Zerodha allows to apply online in IPOs via their back office software "console". UPI payment mode is to be used to apply online through Zerodha. To purchase Medi Assist Healthcare IPO with Zerodha, you must be Zerodha customer and have UPI payment setup. For more details please visit detailed article Step by Step Guide to apply Medi Assist Healthcare IPO with Zerodha.
Alternate approch to apply in Medi Assist Healthcare IPO is ASBA. You can use Zerodha DP information and apply online via ASBA with your prefered net banking user id.
Medi Assist Healthcare IPO Review and Important Updates
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To subscribe or apply in Medi Assist Healthcare IPO, you can use the following methods:
| Medi Assist Healthcare IPO Applying Mode | ||
| Online Application | 3-in-1 Trading Account | If your broker is 3-in-1 service provider, you can apply in Medi Assist Healthcare IPO directly with your brokers website. Example HDFC Sky, ICICI Direct, AxisDirect are 3-in-1 brokers provide you direct IPO investment. |
| Online Application | 2-in-1 Trading Account | Brokers like Zerodha, TradeSmart Online provides access to applying in Medi Assist Healthcare IPO with their in-house developed platform. You need to apply in IPO via UPI payment method. You must have access of your UPI mandate to apply in IPO online. |
| Online Application | ASBA | This is one of the most popular mode of applying in Medi Assist Healthcare IPO. Most of the Syndicate Banks provide access to apply in Medi Assist Healthcare IPO via ASBA process. You must have your net banking access, DP ID information to apply in Medi Assist Healthcare IPO via ASBA. Bank like Axis, SBI allows you to apply maximum 5 application from one bank account. However, ICICI, HDFC bank have limit of one IPO ASBA application per account. |
| Offline Application | Physical Form | You can apply in Medi Assist Healthcare IPO via physical form, but not with ASBA. Physical Forms need to be filled using UPI mode of payment and need to approve the mandate of UPI with your registered phone number with your UPI provider. You can use BHIM app or banks mobile app who support UPI process like SBI, HSBC, Axis, ICICI, HDFC, Yes Bank, Citi Bank mobile app. |
Medi Assist Healthcare IPO Review and Important Updates
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Applying in Medi Assist Healthcare IPO is very easy and quick process via ASBA. You can use your net banking user id and password to apply in IPO. In case you want to submit physical application, you can download Medi Assist Healthcare IPO application online and submit to the nearest bank or to your broker. With new mandate from SEBI, all physical application need to use UPI mode of payment. In such case you have to setup UPI and provide your UPI information in physical application. Once your bank receives your application they will use UPI ID to block your money. You will get UPI mandate and need to approve the same to submit your application.
For more details on how to use UPI payment method to apply Medi Assist Healthcare IPO, please refer article >> Link
Medi Assist Healthcare IPO Review and Important Updates
Steps to download the online application form for Medi Assist Healthcare IPO
Or
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Medi Assist Healthcare IPO is going to be list on 23-01-2024. NSE Code for Medi Assist Healthcare is MEDIASSIST. BSE Code for Medi Assist Healthcare is 544088.
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Medi Assist Healthcare IPO Allotment Date is 18-01-2024.
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