About Company’s Business:
The business operations are executed via Medi Assist Healthcare Services Limited, our holding company set to be listed post the Offer, along with nine subsidiaries—four direct and five indirect. Through wholly-owned subsidiaries, namely Medi Assist TPA, Medvantage TPA (effective February 13, 2023), and Raksha TPA (effective August 25, 2023), we offer third-party administration services to insurance companies. Serving as intermediaries, we facilitate interactions between insurance companies and policyholders, insurance companies and healthcare providers, and the Government and public health scheme beneficiaries. In the Financial Year 2023, Medi Assist TPA and Medvantage TPA contributed 96.32% to our revenue, while, in the six months ending September 30, 2023, contributions from Medi Assist TPA, Medvantage TPA, and Raksha TPA constituted 92.98%. Our scope also extends to various healthcare and ancillary services, including hospitalization, call center, customer relations, contract management, billing, and claims processing, provided through our Company and subsidiaries—IHMS, Mayfair India, Mayfair UK, Mayfair Group Holding, Mayfair Philippines, and Mayfair Singapore. We have established a widespread healthcare provider network spanning 18,754 hospitals in 1,069 cities and towns across 31 states (including union territories) in India, and extending globally to 141 countries as of September 30, 2023.
About the Industry:
A third party administrator is an organization that processes health insurance claims on behalf of insurance companies. Third party administrators were envisaged as a link between the insurer, healthcare service provider, and the policy holder. The insurers are expected to take risks, set the premium rates, and undertake the marketing and enrolment, while third party administrators are expected to take over the claims processing function. As of September 2023, 16 third party administrators operate in India, providing services to public and private health insurance companies. Their services help improve efficiency and reduce costs for insurance companies while providing valuable support and assistance to policyholders.
Key Financial Information (â‚ą in crores):
| Particulars | As of March 31, 2023 | As of March 31, 2022 | As of March 31, 2021 |
|---|---|---|---|
| Total Assets | 705.72 | 602.23 | 545.30 |
| Total Revenue | 518.96 | 412.02 | 345.57 |
| Profit After Taxes | 75.31 | 63.47 | 38.01 |
| EBITDA | 119.35 | 91.22 | 75.60 |
| Net Worth | 383.67 | 339.29 | 292.55 |
| Reserves and Surplus | 353.86 | 308.63 | 295.81 |
Objective of the Issue:
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To execute the Offer for Sale of a maximum of 28,028,168 Equity Shares by the Selling Shareholders
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To realize the advantages associated with listing the Equity Shares on the Stock Exchanges. It is important to note that our Company will not be the beneficiary of any proceeds generated from the Offer; instead, all such proceeds will be directed to the Selling Shareholders.
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General corporate purposes.
For more detailed information, you can refer to the IPO Prospectus (RHP) filed by the company.
| Important information regarding the IPO | |
|---|---|
| Open Date | Monday, January 15, 2024 |
| Close Date | Wednesday, January 17, 2024 |
| Issue Size | â‚ą1,171.58 Cr |
| Price | â‚ą397 to â‚ą418 per share |
| Lot Size | 35 Shares |
| Basis of Allotment | Thursday, January 18, 2024 |
| Initiation of Refunds | Friday, January 19, 2024 |
| Credit of Shares to Demat | Friday, January 19, 2024 |
| Listing Date | Monday, January 22, 2024 |
How to apply for this IPO?
You can locate the redirection link to the IPO on the home screen of the Dhan App. Alternatively, you can access it by navigating to the “Money” Section at the bottom right and swiping right to reach the “IPO” Tab.
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