Medi Assist Healthcare Services IPO Details
Issue Date
15 Jan - 17 Jan'24
Price Range
₹397 - ₹418
Lot Size
35
IPO Size
₹1171.58 Cr
Medi Assist Healthcare Services IPO Listing Details
Listing On
22 Jan'24
Issue Price
₹418
Listed Price
₹ 460
Retail Gain/Listing Gain
▲10.05%
Schedule of Medi Assist Healthcare Services IPO
Start date
15/01/2024
End date
17/01/2024
Allotment of bids
Refund Initiation
19/01/2024
Listing on exchange
22/01/2024
Medi Assist Healthcare Services IPO Review | Insurance Sector | Issue details, strategies and more
Kotak Securities
•3m 30s
Medi Assist Healthcare Company Background
Medi Assist Healthcare Services Limited provides third-party administration services to insurance companies through their wholly-owned subsidiaries.
The company essentially processes health insurance claims for insurance companies and provides services such as policy administration, customer service and network management, among others. As a third party administrator, it acts as a facilitator between insurance companies and their policy holders, insurance companies and healthcare providers (such as hospitals), and the Government and beneficiaries of public health schemes.
Let's take a look at the competitive strengths and risk factors for Medi Assist Healthcare Services Limited:
Competitive Strengths
Well established third party administrator in India
The company’s market-leading position as a third party administrator in India enhances its ability to benefit from the prospects of the health insurance industry, enhances its profitability and strengthens its value proposition due to increasing economies of scale, ability to invest in cutting edge technology and better scale for negotiating with healthcare provider networks.
Attractive contracts with a pan-India healthcare provider network
The company has developed a pan-India healthcare provider network, which, as of September 30, 2023, comprises 18,754 hospitals across 1,069 cities and towns and 31 states (including union territories) in India.
Diversified base of group accounts with longstanding relationships
The company has a diversified base of corporates whose health insurance requirements they service, and have established longstanding relationships with them. The company serviced over 9,500 group accounts with premium under management of Rs. 128,178.66 million for FY23. Premium managed for group accounts has grown at a CAGR of 37.08% between FY21 and FY23.
Risk Factors
- The company is dependent on five large clients for majority revenue.
- The business is significantly dependent on group accounts in certain industries.
- A significant portion of the revenue from contracts with customers are from subsidiaries.
Key Strategies
- Maintain a leadership position among group accounts.
- Continue pursuing inorganic growth opportunities.
- Increase their share in the retail segment.
Medi Assist Healthcare Key financials
Here are the key financials for Medi Assist Healthcare Services Limited:
How to apply for IPO through ASBA
Kotak Securities
•00m 59 s
How To Apply for Medi Assist Healthcare Services Ltd IPO?
Here are the steps to apply for Jyoti CNC Automation Ltd:
Step 1: Log in to your Kotak Securities Demat account Log in to your Demat account to access IPO investments. Next, select the current IPO section.
Step 2: Specify IPO details Enter the number of lots and the price you wish to apply for.
Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.
Step 4: Mandate Notification Your UPI app will receive a mandate notification to block funds.
Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.
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