Medi Assist Healthcare Services Limited | Globe Capital Market LTD.
Medi Assist Healthcare Services Limited
Price Band
Rs. 397 - 418
IPO Issue Period
Jan 15, 2024 to Jan 17, 2024
Issue Size
Rs.1,171.58 Cr
Face value
Rs. 5/-
Fresh issue
Offer for sale
Rs.1,171.58 Cr
Minimum Shares for Retail
Listing on
Issue Type
Book Building
Registrar to the Issue
Link Intime India Private Ltd
Tentative Listing Date
Jan 22, 2024

Axis Bank Limited
Iifl Securities Ltd
Nuvama Wealth Management Limited
SBI Capital Markets Limited

Medi Assist Healthcare 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.

For year/ period ended ( in Cr.)

Particulars H1FY23 FY22 FY21
Total Revenue 518.96 412.02 345.57
Profit After Tax 74.04 64.22 26.27
EPS 10.75 9.33 3.92
OPM (%) 19.96% 18.94% 17.89%
PATM (%) 14.26% 15.58% 7.60%


As per the offer document, the company has no listed peers to compare with.

For year/ period ended ( in Cr.)

Company Name Market Cap (Cr.) Price P/BV P/E Sales (Cr.)
Net Profits(Cr.)


*Market cap @upper band of Rs./-

  • The company is a well-established third party administrator in India
  • It has scalable technology-enabled infrastructure addressing the needs of all constituents of the health insurance ecosystem
  • It has longstanding relationships with a majority of insurance companies
  • It has a diversified base of group accounts with longstanding relationships
  • It has attractive contracts with a pan- India healthcare provider network
  • The company has the ability to integrate acquisitions
  • It has an experienced management team and marquee shareholders

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.

The company is a one-of-a-kind operator in the third-party administration industry in the insurance sector, and its reach is expanding as more health care contracts are signed due to increased knowledge. Once all recent purchase acquisitions are completed, the firm will be able to resume operations. Following its IPO, this firm will garner attention as the first mover in the industry. Hence, investors may subscribe for medium to long term.

Be a Part of IPO Success Stories!

Never Miss IPO Investment