Medi Assist Healthcare Services IPO
Medi Assist Healthcare Services IPO — date, price band, lot size & details 2024
Medi Assist Healthcare Services listed on 23 Jan 2024 at ₹460, 10% above the ₹418 issue price.
Medi Assist Healthcare Services is a health-tech and insur-tech company that manages health benefits for insurers, employers, retail members and public health schemes. Its total income was Rs 518.96 crore in FY2023.
Stock price
Medi Assist Healthcare Services is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 15 Jan 2024
- Close 17 Jan 2024
- Allotment 18 Jan 2024
- Refund/credit 19 Jan 2024
- Listing 23 Jan 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 15 to 17 Jan, 2024 |
|---|---|
| Price Band | ₹397 – ₹418 |
| Face Value | ₹5 |
| Lot Size | 35 Shares |
| Issue Size | ₹1171.58 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,630 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 35 shares at the ₹418 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 35 | ₹14,630 |
| Retail (max) | 13 | 455 | ₹1,90,190 |
| S-HNI (min) | 14 | 490 | ₹2,04,820 |
| S-HNI (max) | 68 | 2,380 | ₹9,94,840 |
| B-HNI (min) | 69 | 2,415 | ₹10,09,470 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 345.57 crore in FY2021 to Rs 518.96 crore in FY2023.
- 02Profit from continuing operations rose from Rs 38.01 crore in FY2021 to Rs 75.31 crore in FY2023.
- 03The source puts the PAT margin at 14.51%.
- 04It worked with 36 insurance companies as of 31 March 2023.
- 05Net worth grew from Rs 292.55 crore on 31 March 2021 to Rs 416.64 crore on 30 September 2023.
Risks · 5
- 01The whole Rs 1,171.58 crore issue was offer for sale, so no money went to the company.
- 02The pre-issue P/E was 38.22 at the upper band of Rs 418, based on EPS of Rs 10.94.
- 03Profit from continuing operations fell to Rs 24.26 crore in the six months to 30 September 2023.
- 04It depends on its 36 insurer clients renewing their contracts, and insurance rules can change fees.
- 05Promoters and the promoter group held 77.14% before the issue and 45.75% after it, as per the RHP share counts.
Three years of numbers
All figures in ₹ crore, as reported in the Medi Assist Healthcare Services offer document.
| Metric | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 802.62 | 705.72 | 602.23 | 545.30 |
| Total Income | 312.03 | 518.96 | 412.02 | 345.57 |
| Profit After Tax | 24.26 | 75.31 | 63.47 | 38.01 |
| NET Worth | 416.64 | 383.67 | 339.29 | 292.55 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Medi Assist Healthcare Services RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Medi Assist Healthcare Services IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹10.94 | ₹13.15 |
| P/E Ratio (x) | 38.22 | 31.80 |
| Market Cap at Offer Price (₹ Cr) | ₹926.94 | ₹771.15 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹418 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the Medi Assist Healthcare Services IPO will be updated shortly.
About the company
It acts as a link between general and health insurers and their insured members, between insurers and hospitals, and between the government and beneficiaries of public health schemes. It handles cashless hospitalisation through a network of healthcare providers.
It worked with 36 insurance companies in India and abroad as of 31 March 2023.
The IPO was Rs 1,171.58 crore and was entirely an offer for sale by the promoters, a promoter group entity, Investcorp and other shareholders, so the company received none of the money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Medi Assist Healthcare Services IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Nuvama Wealth Management Ltd.
42 issues handledBest listing: Gandhar Oil Refinery (India) (+76.3%). Weakest: ACME Solar Holdings (-13.1%).
SBI Capital Markets Ltd.
70 issues handledBest listing: Bajaj Housing Finance (+114.3%). Weakest: Kalyan Jewellers India (-15.0%).
Axis Capital
126 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
IIFL Capital Services Limited
116 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: Rategain Travel Technologies (-15.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Medi Assist Healthcare Services?
The current Grey Market Premium is ₹35, or 8% over the issue price.
What is the Medi Assist Healthcare Services IPO price band?
₹397 to ₹418, on a face value of ₹5.
When is the allotment?
The basis of allotment is 18 January 2024, with listing on 23 January 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
