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Incorporated in June 2002, Medi Assist Healthcare Services Limited is a health-tech and insurance-tech company that manages health benefits for employers, retail members, and public health schemes, primarily serving insurance companies.
Medi Assist offers medical insurance and cashless hospitalization through a network of healthcare service providers. However, the company also acts as a mediator between (a) general and health insurance companies and their insured members, (b) insurance companies and healthcare providers (such as hospitals), and (c) the Government and beneficiaries of public health schemes. Medi Assist Healthcare collaborated with 36 insurance companies in India and worldwide as of March 31, 2023.
The revenue generated by the retail portfolio for the financial years 2021, 2022, and 2023 was ₹494.68 million, ₹579.84 million, and ₹570.29 million, respectively. These amounts constituted 15.33%, 14.72%, and 11.29% of the total revenue from customer contracts for the same years.
As of March 31, 2023, the company has established a healthcare network across India, with over 14,000 hospitals in 967 cities and towns in 32 states and union territories.
During FY2023, the company settled 5.27 million claims, comprising 2.44 million in-patient claims and 2.83 million out-patient claims.
Medi Assist Healthcare IPO Details
| IPO Date | to |
| Listing Date | [.] |
| Face Value | ₹5 per share |
| Price | [.] to [.] per share |
| Lot Size | |
| Total Issue Size | 28,028,168 shares (aggregating up to ₹[.] Cr) |
| Offer for Sale | 28,028,168 shares of ₹5 (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 68,859,212 |
| Share holding post issue | 68,859,212 |
Medi Assist Healthcare IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Medi Assist Healthcare IPO Promoter Holding
The promoters of the Company are Dr Vikram Jit Singh Chhatwal, Medimatter Health Management Private Limited and Bessemer India Capital Holding II Ltd.
| Share Holding Pre Issue | 77.14% |
| Share Holding Post Issue |
Medi Assist Healthcare Services Limited Financial Information
Medi Assist Healthcare Services Limited’s revenue increased by 25.95% and profit after tax (PAT) rose by 15.3% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 705.72 | 602.23 | 545.30 |
| Revenue | 518.96 | 412.02 | 345.57 |
| Profit After Tax | 74.04 | 64.22 | 26.27 |
| Net Worth | 383.67 | 339.29 | 292.55 |
| Reserves and Surplus | 353.86 | 308.63 | 295.81 |
| Total Borrowing | |||
| Amount in ₹ Crore | |||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROCE | 24.95% |
| EPS (Rs) | 10.65 |
| RoNW | 19.63 |
Objects of the Issue (Medi Assist Healthcare IPO Objectives)
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.
