Medi Assist Healthcare IPO 2024

Today marks the opening of the insurance tech company’s mainboard initial public offering (IPO), which will run through January 17, 2024. Through a network of healthcare service providers, the company provides medical insurance and cashless hospitalization to insurance companies as a third-party administration (TPA) service provider. The Medi Assist IPO pricing range has been set by the insurance-tech business at ₹397 to ₹418 per equity share. It is suggested that the book construction issue be listed on the BSE and NSE

In the meantime, since the weekend, shares of Medi Assist Healthcare Limited have been traded on the black market. Observers of the stock market claim that shares of Medi Assist Healthcare are currently available in the gray market for ₹32 more than their market value.

Date of Medi Assist Healthcare IPO 2024

Bidding on the public issue began today and will continue until January 17, 2024. (Image: courtesy of the business website)

Date of Medi Assist IPO: Bidding on the public issue began today and will continue until January 17, 2024. (Image: courtesy of the business website)

Status of Medi Assist Healthcare IPO 2024 subscription

The public issue was subscribed 0.22 times by 2:08 PM on the first day of bidding, while the retail part was subscribed 0.41 times. The book build issue’s NII section was filled 0.09 times.

Key information about Medi Assist Healthcare’s IPO 2024

1.  Medi Assist IPO registrar: Link Intime India Private Limited has been appointed as the official registrar of this public offering.
2.  Listing of Medi Assist IPO: BSE and NSE are proposing to list the public offering.
3.  Medi Assist IPO listing date: On January 22, 2024, the public offering could go live.
4.  Review of Medi Assist IPO: “There are no comparable peers having business model similar to MAHSL,” the Choice Broking report states, assigning a “subscribe” flag to the book build issue. The aforementioned peers are solely taken into account for benchmarking the requested valuation according to the nature of the operations. MAHSL is requesting a P/E multiple at a higher price band of 34.8x (to its TTM EPS of Rs. 12), which is less than the peer average of 42.6x. As a result, the issue is reasonably priced. MAHSL serves the rapidly expanding
5. On whether Medi Assist IPO is good or negative for a primary market investor, Gaurav Goel, Founder & Director at Fynocrat Technologies said, “We feel this IPO can be an alternate strategy to play the long-term health insurance growth in the country. One of the top TPAs, Medi Assist is the first third-party administrator (TPA) to launch an initial public offering (IPO), which takes place on January 15. The issuance is an OFS, and the promoter ownership will drop from 77% pre-issue to 46% after the offering. With 42% of the TPA market in terms of premiums, or 21% of the total health insurance market, Medi Assist leads the business. Additionally, in terms of profitability, Medi AssiMedi Assist IPO GMP: The health tech company’s shares are currently available on the gray market for ₹32 more than their asking price.
6. Medi Assist IPO date: Bidding on the public issue began today and will continue until January 17, 2024.
7.  Medi Assist IPO price: The health technology startup’s book build issuance has a predetermined price range of ₹397 to ₹418 per equity share.
8. Med Assist IPO size: This public offering, which is a 100% offer for sale (OFS), is expected to bring in ₹1,171.58 crore for the book build issue.
9. Medi Assist IPO lot size: Bidders may submit applications in lots, with each lot consisting of 35 million company shares for the book-build issuance

 Medi Assist IPO allotment date 2024

The finalization of the share distribution is most likely scheduled for Thursday of next week, January 18, 2024.st makes about 56 cent

The Medi Assist healthcare IPPo has also received an “apply” rating from BP Equities, Canara Bank Securities, and Ventura Securities, while Swastika Investment has maintained a “neutral” stance on the book builders. The public offering has not been rated by SBICAP Securities.

Notice:

Mint does not endorse the opinions or suggestions expressed above; rather, they represent the opinions of certain analysts or broking firms. Before making any financial decisions, we suggest investors consult with qualified specialists.

The mainboard initial public offering (IPO) of Medi Assist Healthcare, an insurance-tech firm, has commenced today and is scheduled to run through January 17, 2024. As a third-party administration (TPA) services provider, the company offers medical insurance and cashless hospitalization to insurance companies through a network of healthcare service providers. The insurance-tech company has set the price range for the Medi Assist IPO at ₹397 to ₹418 per equity share. It is recommended that the BSE and NSE list the book construction issue.