Medi Assist Healthcare Services Limited

About Medi Assist Healthcare Services Limited  Incorporated in 2000, Medi Assist Healthcare Services Limited provides third-party administration services to insurance companies through its wholly owned Subsidiaries, Medi Assist TPA (Third Party Administrator), Medvantage TPA and Raksha TPA. A third-party administrator is an organization that processes health insurance claims for insurance companies and provides services such as policy administration, customer service and network management. Its primary clients are insurance companies wherein the company acts as a facilitator between insurance companies and policy holders, insurance companies and healthcare providers (such as hospitals), and the Government and beneficiaries of public health schemes.  As of 30 September 2023, it works with 35 insurance companies, in India and globally, and has managed ₹14,574 crore of health insurance premiums by FY23. It has serviced over 9,500 group accounts across sectors to help administer the insurance requirements of its employees.Its pan-India healthcare provider network consists of 18,754 hospitals across 1,069 cities and towns and 31 states (including union territories) in India and network across 141 countries globally, as on 30 September, 2023. It has also acquired multiple companies such as Dedicated Healthcare Services TPA (India), IHMS, Mayfair India, Mayfair UK, Mayfair Group Holding, Mayfair Philippines, Mayfair Singapore, Medvantage TPA, and Raksha Health Insurance TPA.  Between FY21 and FY23, it saw a CAGR rise of 16% in its revenue from operations and 41% in its profit. Moreover, the health insurance segment has outpaced the growth of non-health segments comprising motor, property, liability, etc., witnessing a CAGR of 6.38% in the last six years, which could benefit the company.And now, Medi Assist Healthcare Services Limited is coming out with its initial public offer (IPO). The entire IPO will be an offer for sale, and all proceeds from the offer will go to the selling shareholders. Its shares will be listed on the NSE and the BSE.  Here are key details about the Medi Assist Healthcare Services Limited IPO:     Company Name  Medi Assist Healthcare Services Limited   Company Type  Private    Company Established On  2000   Medi Assist Healthcare Services Limited IPO Opening Date  January 15, 2024    Medi Assist Healthcare Services Limited IPO Closing Date  January 17, 2024   Medi Assist Healthcare Services Limited IPO Allotment Status  January 18, 2024    Credit of Shares to the Demat Account  January 19, 2024   Medi Assist Healthcare Services Limited IPO Listing Date  January 23, 2024    Medi Assist Healthcare Services Limited IPO Face Value  ₹5 per share   Medi Assist Healthcare Services Limited IPO Lot Size  35 Shares    Medi Assist Healthcare Services Limited IPO Issue Size  ₹1,171.58 Cr   Medi Assist Healthcare Services Limited IPO to be Listed on  BSE, NSE    Medi Assist Healthcare Services Limited IPO Price band  ₹397 to ₹418 per share        Financial snapshot     Particulars  FY21  FY22  FY23    Revenue  ₹ 322 crore  ₹ 393 crore  ₹ 504 crore    Net Profit  ₹ 26.2 crore  ₹ 64.2 crore  ₹ 74.0 crore               Here’s a quick look at Medi Assist Healthcare Services Limited IPO’s strengths, weakness, opportunities and risks (SWOT analysis)  Strengths and opportunities   Well established third-party administrator in India.  Technology-enabled infrastructure addresses the needs of all constituents through cost leadership, insurer benefits, insured member experience and offerings for healthcare providers.  Long standing relationships with a majority of insurance companies with an average term of relationship of 20 years for four PSU (Public Sector Undertaking) companies and 9 years for 23 non-PSU companies as of 30 September 2023. This ensures stable revenue flow for the company in the long run.  Diversified base of group accounts as it served 78% of the Nifty 50 companies and 35% of the BSE 500 companies as of 30 September 2023.  Attractive contracts with a pan-India healthcare provider network comprising 18,754 hospitals as of 30 September 2023.  Ability to integrate acquisitions.   Risks and threats   Derives a significant portion of its revenues from a limited number of clients, as its five largest clients contributed to 77% of its total revenue from operations in FY23.  Income is largely generated as a percentage of its premium under management, which may decline and affect revenue and profitability.  Business depends on the continued demand for benefits administration services by insurance companies, corporates and the Central and State Governments.  Service government-sponsored insurance schemes and are exposed to risks associated with program funding, enrollments and delayed payments.  Experienced negative cash flows from investing and financing activities consecutively in the last three fiscals.  Operates in a competitive industry.  Subject to various laws and regulations.            Medi Assist Healthcare Services Limited IPO details  |Medi Assist Healthcare Services Limited IPO date  According to the offer document filed by the company with the SEBI, the Medi Assist Healthcare Services Ltd IPO’s opening date – in other words, the Medi Assist Healthcare Services Ltd IPO launch date – is 15 January 2024. The Medi Assist Healthcare Services Ltd IPO closing date is 17 January 2024. The allotment status date is 18 January 2024.  Investors, who have been allotted shares, can expect them to be credited to their demat account on 19 January 2024. The Medi Assist Healthcare Services Ltd IPO listing date is 22 January 2024. The listing date is the date on which the shares of a company get listed on the bourses – NSE and BSE.  |Medi Assist Healthcare Services Limited IPO Price Band  The IPO is an offer for sale. The Medi Assist Healthcare Services Ltd IPO price band is ₹397 - ₹418 per share. Interested investors can choose a price within this band to apply for the IPO.  The Medi Assist Healthcare Services Ltd IPO listing price will be determined on 22 January 2024. The listing price is the price at which a company’s shares debut on the stock exchanges.  |Medi Assist Healthcare Services Limited IPO Lot size  The Medi Assist Healthcare Services Ltd IPO details are not declared yet. The Medi Assist Healthcare Services Ltd IPO lot size is 35 shares and an investor can apply for a minimum of 1 lot. Meanwhile, the Medi Assist Healthcare Services Ltd IPO issue size is approx. ₹1,172 crore.           How to pre-apply for the Medi Assist Healthcare Services Limited IPO?  You can pre-apply for the Medi Assist Healthcare Services Limited IPO on Upstox. The pre-application for this IPO, which means pre-apply open date, usually begins a day before the IPO opens for subscription.  Follow these steps to pre-apply for the IPO:   Login to your Upstox account, using your six-digit PIN  After successfully logging in, click on ‘Discover’  On the Discover tab, you will find the ‘Invest in IPO’ section  Under the Invest in IPO section, look for the ‘Medi Assist Healthcare Services Limited IPO’ tab and click on it  Now fill in all the required information, like ‘bid price’ and ‘lot size’  Confirm and click on ‘Pre-Apply’  Accept the mandate on your UPI app            How to apply for the Medi Assist Healthcare Services Limited IPO?  If you are interested in this investment opportunity but unsure how to apply for the Medi Assist Healthcare Services Limited IPO, here we are listing out the steps for you.  When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for the Medi Assist Healthcare Services Limited IPO on Upstox:   Login to your Upstox account, using your six-digit PIN  After successfully logging in, click on ‘Discover’  On the Discover tab, you will find the ‘Invest in IPO’ section  Under the Invest in IPO section, look for the ‘Medi Assist Healthcare Services Limited IPO’ tab and click on it  Now fill in all the required information, like ‘bid price’ and ‘lot size’  Confirm and click on ‘Apply’  Accept the mandate on your UPI app            How to check the Medi Assist Healthcare Services LimitedIPO allotment status?  When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally done around five to six days after an IPO closes.  Here’s a step-by-step guide on how to check the Medi Assist Healthcare Services Limited IPO allotment status:   Login to your Upstox account, using your six-digit PIN  After successfully logging in, click on ‘Discover’  On the Discover page, you will find the ‘Invest in IPO’ section  Under the Invest in IPO section, you will find the ‘View all’ option  Once you click on ‘View all’, you will be directed to the ‘IPO’ tab  In the ‘IPO’ tab, click on ‘My applications’  In ‘My applications’, under the History section, your Medi Assist Healthcare Services Limited IPO allotment status will be mentioned    Check Allotment Status           Open a demat account with Upstox to apply for the Medi Assist Healthcare Services Limited IPO  To apply for the Medi Assist Healthcare Services Limited IPO, you need to mandatorily have a demat account. A demat account helps you hold the shares you buy in a dematerialised format. If you don’t have a demat account yet, you can open one with Upstox by visiting our website or by downloading the app.  Here is a step-by-step guide on how to open a demat account with Upstox:   Click here to visit the demat account opening page on the Upstox website.  Enter your phone number and other essential details to begin opening a demat account.  Upload the scanned copies of your PAN, Aadhaar card, a cancelled cheque, and your bank statement as needed.  Complete the e-verification using the OTP sent to your registered mobile number.   This is all it takes to open a demat account with Upstox. Easy and quick, right?   Open Demat Account           Upstox – trading app to apply for the Medi Assist Healthcare Services Limited IPO  Applying for IPOs with Upstox is extremely easy. The user-friendly interface and top-notch security make Upstox one of the leading trading apps in India.  You can apply for the Medi Assist Healthcare Services Limited IPO on Upstox, provided you have a demat account. As mentioned in the previous section, you can simply follow the steps to open a demat account with Upstox. The biggest advantage is that when you apply for an IPO using your Upstox account, the brokerage charges are zero.  In fact, courtesy of its robust features and minimal charges, Upstox is among the most preferred trading apps. Lakhs of Indians trust Upstox as it is a reliable trading platform that makes IPO applications easy.