Incorporated in 2000, Medi Assist Healthcare Services Limited is a health-tech and insurance-tech company which manages health benefits for employers, retail members, and public health schemes, primarily serving insurance companies. It provides third-party administration services to insurance companies via its wholly owned subsidiaries, Medi Assist TPA, Medvantage TPA and Raksha TPA.
As a third-party administrator, the company operates as a facilitator between insurance companies and their policyholders, insurance companies and healthcare providers, and the Government and beneficiaries of public health schemes.
India's health insurance sector is playing a critical role in reducing s Out-of-pocket (OOP) and total incurred expenditures while meeting healthcare needs on the back of the maturing health insurance market and increasing insurance penetration as a solution for health financing.
Medi Assist Healthcare Services Limited IPO Details
Medi Assist Healthcare Services Limited IPO Date
Medi Assist Healthcare Services Limited IPO is a 100% offer for sale by which the company is planning to raise up to ₹1,171.58 crore. Medi Assist Healthcare Services Limited’s IPO will open on January 15, 2024. It is a book-built issue IPO.
Medi Assist Healthcare Services Limited IPO Price Band
The price range of the IPO has not been fixed yet.
Medi Assist Healthcare Services Limited IPO Lot Size
The lot size of the IPO has not been fixed yet.
Medi Assist Healthcare Services Limited IPO Objectives
The company will not receive any proceeding from the offer. All proceeds from the offer will go to the selling shareholders.
Peer Details
As per RHP, the company has no listed peers.
How To Check the Allotment Status of the Medi Assist Healthcare Services Limited IPO?
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Contact Details of Medi Assist Healthcare Services Limited
Registered office: Tower D, 4th floor, IBC Knowledge Park, 4/1 Bannerghatta
Road, Bengaluru 560 029, Karnataka, India
Phone: (+91 80) 6919 0000
E-mail:investor.relations@mediassist.in
Company Financials
| Particulars | Period Ending on September 30, 2023 | Year Ending on March 31, 2023 | Year ending on March 31, 2022 |
|---|---|---|---|
| Total Income | 3,120.29 | 5,189.55 | 4,120.23 |
| Profit After Tax (PAT) | 224.86 | 740.42 | 642.18 |
| Assets | 8,026.19 | 7,057.16 | 6,022.30 |
| Total Borrowings | 0.77 | 0.77 | 0.00 |
Know before investing
Strengths
2The company’s subsidiaries, Medi Assist TPA, Medvantage TPA and Raksha TPA, are well-established third-party administrators in India. This helped the company in increasing retail and group premiums by 31.91% compared to the prior year.
The company have developed a diversified base of corporates, whereby it serves health insurance requirements. In addition, it has established longstanding relationships with them.
Risks
2The company is exposed to risks arising from a decline in insurance companies outsourcing claims processing and other related activities to third-party administrators. This could impact its business, results of operations and financial condition.
The company is subject to various statutory obligations, non-compliance of which could result in penalties, legal actions, or financial liabilities.
