Medi Assist Healthcare Services: The IPO of Bengaluru based third party administration service provider to insurance company Medi Assist Healthcare Services is going to open next week on Monday, January 15. The size of the IPO is Rs 1172 crore. The company has fixed the price band for the IPO at Rs 397-418 per share. This IPO is only an Offer for Sale (OFS), under which 2.8 crore shares will be sold by the existing shareholders and promoters. This IPO can be subscribed till January 17. This issue will open for anchor investors only on January 12.
This IPO is completely OFS. Under this, promoters Dr. Vikramjit Singh Chatwal (2,539,092 equity shares), Medimatter Health Management (12,468,592 equity shares), Bessemer Health Capital LLC (6,606,084 equity shares), and Investor Investcorp Private Equity Fund I (6,275,706 equity shares) are mainly involved in selling shares. Are the shareholders. Dr. Vikramjit Singh Chatwal and Bessara Health Capital LLC will exit the company by selling their entire shares through OFS.
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You will have to invest at least Rs 14630
Talking about the floor price, it is 79.40 times the face value and 83.60 times the cap price. The price to earnings ratio at the floor price is 36.66 times, while the cap price is 38.60 times. Medi Assist IPO lot size is 35 equity shares and thereafter investment can be made in multiples of 35 equity shares. It will be necessary to invest at least Rs 14630 for 1 lot in this IPO.
how much reserve for whom
In the Medi Assist IPO, 50 per cent of the public issue is reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional institutional investors (NIIs) and 35 per cent for retail investors. Share allotment will take place on January 18, while the company's shares will be listed in the market on January 22.
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about the company
Medi Assist Healthcare Services Limited provides third party administration services to insurance companies through its wholly owned subsidiaries, MedVantage TPA, Raksha TPA and Medi Assist TPA. An organization that handles health insurance claims on behalf of insurance companies and provides services such as network management, policy administration and customer service is known as Third Party Administration. With the help of its subsidiaries, IHMS, Mayfair India, Mayfair UK, Mayfair Group Holding, Mayfair Philippines and Mayfair Singapore, the company also provides additional health care and support services, such as hospitalization, call centre, customer relations, contract management , billing, and claims processing services. By September 30, 2023, the company has established a pan-India healthcare provider network consisting of 18,754 hospitals spread across 1069 cities and towns, 31 states (including Union Territories) and 141 countries across the world.
gray market premium
There is movement in the gray market regarding the IPO of Medi Assist. The unlisted stock of the company is at a premium of Rs 80 in the gray market. While the upper price band is Rs 418; In this respect the premium is around 19 percent.