Medi Assist IPO consists of an offer for sale of 2.80 crores of existing equity shares. The company will not receive any proceeds from the offer but intends to provide liquidity to the existing shareholders as well as help build the brand image.
Medi Assist IPO – Important Details
| Medi Assist IPO Date | January 15, 2024 to January 17, 2024 |
| Medi Assist IPO Listing Date | January 22, 2024 |
| Medi Assist IPO Price | INR 397 to 418 per share |
| Medi Assist IPO Lot Size | 35 Shares |
| Medi Assist IPO Total Issue Size | 1,171.58 Cr |
| Medi Assist IPO Basis of Allotment | January 18, 2024 |
| Medi Assist IPO Initiation of Refunds | January 19, 2024 |
| Medi Assist IPO Credit of Shares to Demat | January 19, 2024 |
| Medi Assist IPO Issue Type | Book Built Issue IPO |
| Medi Assist IPO Listing At | BSE,NSE |
Medi Assist IPO – Company Profile
The company is India’s largest health benefits administrator in terms of premium under management for retail and group schemes. The company has served over 9,500 group accounts across sectors to help administer the insurance requirements of their employees. The primary clients are insurance companies; however, the company also serve as an intermediary between
(a) general and health insurance companies and the insured members,
(b) insurance companies and healthcare providers (such as hospitals), and
(c) the Government and beneficiaries of public health schemes.
Over the years, the company has developed a pan-India healthcare provider network, which comprises 14,301 hospitals across 967 cities and towns and 32 states.
The company is committed to utilizing operational expertise and technology to drive value and deliver high-quality health insurance administration services to its clients and stakeholders. The well-established operational processes and the technology infrastructure enable us to seamlessly integrate acquired entities into the operations.
Medi Assist IPO Fundamental Analysis
Medi Assist IPO demonstrates robust revenue growth, improving profitability, and prudent financial management, albeit rising expenses, signaling expansion and funding needs.
Revenue Growth:
There is a consistent increase in revenue from ₹3,227.42 million in 2021 to ₹5,049.34 million in 2023, indicating a healthy growth trend.
Equity and Liabilities:
Equity has risen steadily from ₹2,925.45 million in 2021 to ₹3,836.72 million in 2023. Simultaneously, total liabilities have also increased, indicating expansion and possible funding requirements.
Expenses:
While revenue has been increasing, expenses have grown substantially from ₹2,845.32 million in 2021 to ₹4,153.46 million in 2023, which might impact profit margins.
Profitability:
There is consistent growth in Profit After Tax (PAT) from ₹262.74 million in 2021 to ₹740.42 million in 2023. This indicates improving profitability, although the growth rate has slowed in recent years.
Return on Net Worth (RoNW):
RoNW has consistently grown from 8.89% in 2021 to 19.30% in 2023, reflecting improved efficiency in utilizing shareholder funds.
Earnings Per Share (EPS) and NAV:
The Diluted EPS has increased significantly from ₹3.88 in 2021 to ₹10.65 in 2023. Similarly, the Net Asset Value (NAV) per Equity Share has steadily increased over the years.
Debt to Equity Ratio:
The company has maintained a low Debt to Equity Ratio, decreasing from 0.04 times in 2022, indicating a relatively healthy financial position.
Medi Assist IPO Financial Information
| Particular | As at 31 March 2021 | As at 31 March 2022 | As at 31 March 2023 |
| Revenue(₹in millions) | 3,22742 | 3,938.10 | 5,049.34 |
| Equity(₹ in millions) | 2,925.45 | 3,392.86 | 3,836.72 |
| Expenses (₹in millions) | 2,845.32 | 3,339.47 | 4,153.46 |
| Profit and Loss After Tax (₹ in millions) | 262.74 | 642.18 | 740.42 |
| RoNW (%) | 8.89% | 18.93% | 19.30% |
| Diluted EPS only (₹) | 3.88 | 9.25 | 10.65 |
| NAV per Equity Share (₹) | 42.48 | 49.27 | 55.72 |
| Total Assets (in millions) | 3,697.64 | 4,248.17 | 4,421.35 |
| Total Liabilities (in millions) | 2,527.50 | 2,629.44 | 3,220.44 |
| Debt to Equity Ratio | NA | 0.04 times | NA |
Medi Assist IPO Peer Comparison
No listed companies in India engage in a business similar to that of the Company and its subsidiaries. Accordingly, it is impossible to provide an industry comparison concerning the Company.
Medi Assist IPO Objective
Medi Assist’s IPO offer consists of an offer for sale, and the company will not receive any funds from the proceeds of the offer. The company aims to achieve the benefits of listing, enhance the visibility and brand image.
Medi Assist IPO Risks And Challenges
The Medi Assist IPO heavily depends on a few clients for 77% of its revenue, posing a risk. Group accounts in the IT/ITES and BFSI sectors contribute 45% and 20%, respectively. Adverse industry developments may impact service demand. The previous auditor disclaimed an opinion on consolidated financial statements.
- The company derives 77% of its revenue from limited customers, and the loss of one or more such clients could adversely affect the business and its prospects.
- Group accounts in the IT/ITES sector contributed 45% of the revenue, and group accounts in the BFSI sector contributed 20%. Any adverse developments in such industries may affect the demand for the services and the business and results of operations.
- The previous statutory auditor has given disclaimer of opinion with respect to the consolidated financial statement.
Medi Assist IPO – Industry & Market Potential
Health has the largest share and is the fastest-growing insurance segment in the general/ non-life category, with a high headroom for future growth largely driven by group policies and private insurance sector growth.
Insurance penetration and density in India for health insurance have increased in recent years. This increase in health insurance penetration and density can be attributed to several factors, including rising healthcare costs, increasing awareness about the need for health insurance, and the introduction of government-sponsored health insurance schemes such as Ayushman Bharat, which provides health insurance coverage to economically vulnerable families.
The retail sector accounted for nearly 10% of lives covered in FY 2022; however, growing at a CAGR of 8.82% between FY 2022 and FY 2028, the segment is expected to lose its share to government and group schemes as the employed population seeks group coverage and the economically vulnerable get covered by government schemes.
Medi Assist Healthcare Services IPO – Type of Offer
Medi Assist is coming up with an offer to sell 2.80 crore existing shares. Along with other shareholders, the below are the details of the promoters selling their existing shares :
| Name of the promoter selling shareholder | Maximum number of offered shares for sale |
| Dr. Vikram Jit Singh Chhatwal | 2,539,092 |
| Medi matter Health Management Private Limited | 12,468,592 |
| Bessemer Health Capital LLC | 6,606,084 |
Medi Assist IPO Offer Size
Medi Assist Limited’s IPO offer entails the sale of 2.80 crores of equity shares by current shareholders. The company won’t directly benefit from this, but it aims to provide liquidity to existing shareholders and enhance its brand image.
Medi Assist Healthcare Services Ltd IPO Allotment Structure
Medi Assist’s IPO allocation designates 50% to Qualified Institutional Buyers (banks, mutual funds, insurance), 15% to Non-Institutional Investors (corporates, high-value individuals), and 35% to Retail Individual Investors (individuals with smaller investments), which complies with SEBI regulations.
·Qualified Institutional Buyers (QIB): As per SEBI regulations, 50% of the shares offered through the IPO will be reserved for Qualified Institutional Buyers. These include entities such as banks, mutual funds, and insurance companies.
·Non-Institutional Investors (NII): 15% of the shares will be reserved for Non-Institutional Investors. These typically include corporate bodies or individuals investing more than Rs.2 lakhs.
·Retail Individual Investors (RII): The remaining 35% of the shares will be allotted to Retail Individual Investors. These individual investors apply for shares with a total value of less than Rs.2 lakhs.
How to apply for a Medi Assist IPO?
To apply for the Medi Assist IPO through Alice Blue, you would typically follow these steps:
1. Open a Demat and Trading Account: If you don’t have one already, you would need to open a Demat and trading account with Alice Blue.
2. Check for IPO Details: Once your account is active, you can check for the Medi Assist IPO details in the IPO section of the Alice Blue platform.
3.Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
4.Submit the Application: Confirm all your details and submit your application.
You can apply for the Medi Assist’s IPO at Alice Blue [M1] in just a few clicks!
Check Allotment Status: Post the allotment process; you can check the allotment status to see if you have received any shares.
Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.
How to Check Medi Assist IPO Allotment Status on Alice Blue?
Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:
1. Log in to your Alice Blue Account: You can do this through the Alice Blue website or their trading app.
2. Navigate to the Portfolio or IPO Section: This might differ based on the layout of Alice Blue’s platform, but generally, you can find the status of your IPO application under the ‘Portfolio’ or ‘IPO’ section.
3. Find the IPO Allotment Status: Look for a sub-section called ‘IPO Allotment Status’ or something similar. This is where you can see the status of the IPOs you have applied for.
4. Select the Medi Assist IPO: If you have applied for multiple IPOs, there might be a dropdown menu or lists where you can select the IPO you are interested in. Select the Medi Assist IPO.
5. Check the Status: The status of your application should be displayed here. If the shares have been allocated to you, it would be mentioned here.
If you face any issues, it’s recommended to contact Alice Blue’s customer support for detailed assistance.
Apart from Alice Blue, there are other ways to check the allotment status of the Medi Assist IPO:
Registrar’s Website: Visit the website of Link In time India Private Limited, the registrar of the Medi Assist IPO. On the homepage, look for the ‘IPO Allotment Status’ option. You must enter your PAN and application number or Demat account number to check your allotment status. Click on the ‘Submit’ button to view your IPO allotment status.
NSE and BSE: You can also check the allotment status on the official websites of the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). You would need your application number and PAN to check the status.
Please note that the allotment status will only be available after completing the allotment process, a few days after the IPO window closes.
Medi Assist IPO Offer Registrar
The registrar for the Medi Assist IPO is Link In time India Private Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.
Link In time India Private Limited
C-101, 247 Park
LBS Marg
Vikhroli-(West)
Mumbai 400 083
Maharashtra, India
Tel: (+ 91)810811 4949
E-mail: [email protected]
Website: www.linkintime.co.in
Medi Assist IPO FAQs
1. What is the allotment date of the Medi Assist IPO?
The allotment date of Medi Assist IPO is January 18, 2024.
2. What is the price band of the Medi Assist IPO?
The price band of the Medi Assist IPO shares issued by the company is INR 397 to 418 per share.
3. What is the size of the Medi Assist IPO?
Medi Assist is launching an IPO consisting of sale of 2.80 crores shares by existing shareholders.
4. What is the listing date of the Medi Assist IPO?
The listing date of Medi Assist IPO is January 22, 2024.
