Medi Assist IPO: Health-Tech Company Set to Launch Initial Public Offering

New Delhi, January 9: Medi Assist Healthcare Services, a leading provider of third-party administration services to insurance companies, is poised to launch its Initial Public Offering (IPO) on January 15, 2023. The maiden public issue will conclude on January 17, and the bidding for anchor investors will open for a day on January 12, as per the Red Herring Prospectus (RHP).

Representative image

Offer for Sale

The issue comprises entirely an offer for sale of up to 2.8 crore equity shares of Medi Assist by promoters and existing shareholders. Prominent sellers in the offer for sale include Vikram Jit Singh Chhatwal, Medimatter Health Management, Bessemer India Capital Holdings II Ltd, Bessemer Health Capital LLC, and Investcorp Private Equity Fund I. Since the issue is solely an Offer For Sale (OFS), the company will not receive any proceeds, and all funds will be distributed to the selling shareholders.

About Medi Assist

Headquartered in Bengaluru, Medi Assist is a health-tech and insurtech company specializing in administering health benefits across employers, retail members, and public health schemes. While its primary clients are insurance companies, Medi Assist also acts as an intermediary between general and health insurance companies, insured members, insurance companies, healthcare providers such as hospitals, and the government and beneficiaries of public health schemes.

Merchant Bankers

Axis Capital, Nuvama Wealth Management, IIFL Securities, and SBI Capital Markets have been appointed as merchant bankers to advise Medi Assist Healthcare Services on the IPO. The equity shares of the company will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

The upcoming IPO of Medi Assist Healthcare Services presents an exciting opportunity for investors to participate in the growth of a leading player in the health-tech and insurtech sector. With its strong track record, diverse client base, and experienced management team, Medi Assist is well-positioned to capitalize on the growing demand for healthcare services in India.