Medi Assist Healthcare IPO opens on 15 Jan Monday: On January 15, Medi Assist Healthcare’s initial public offering (IPO) will be available for subscription. By January 17, the issue will close. It is anticipated that both markets would list the company’s shares. All the information on the offer is provided here.
Medi Assist Healthcare’s IPO size:
The IPO, which is an offer to sell 2.8 crore shares, has a price range of Rs 397–418 per share set by the business. Medi Assist is set to become the inaugural insurance third-party administrator (TPA) in India upon IPO. There is an assumed market cap of around Rs 2878 crore after the transaction.
The Medi Assist Healthcare IPO’s structure:
Retail investors will receive 35% of the offer, qualified institutional buyers (QIBs) would receive 50%, and non-institutional investors will receive 15%.
An outline of Medi Assist Healthcare’s Business:
Medi Assist Healthcare uses its fully owned businesses to offer insurance companies third party administration services. An organization that handles health insurance claims on behalf of insurance companies is known as a third party administrator. They also offer additional services like network management, policy administration, and customer service.
Overview of the Medi Assist Healthcare industry
In the year September 2023: 16 third party administrators are in operation in India, offering services to both public and private health insurance companies. They assist in lowering costs and increasing efficiency for insurance companies, all the while giving policyholders important support and assistance.
Medi Assist Healthcare’s fiscal performance
The company’s overall income for the six months ending in September 2023 increased 26% year over year to Rs 312 crore, while its net profit decreased 39% to Rs 22.5 crore.
Purposes of the Medi Assist Healthcare IPO:
Since the IPO is entirely an OFS and the selling shareholders will receive the full proceeds, the firm will not receive any funds from it.
Present GMP of Medi Assist Healthcare:
In the unlisted market, market analysts estimate that Medi Assist Healthcare’s current GMP is Rs 64.
Medi Assist Healthcare IPO listing date and share allotment
The IPO’s share allotment will be completed on January 18, and January 22 is the set date for listing.
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