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To apply for the IPO, please click on the link below :
https://upstox.com/ipo-initial-public-offering/medi-assist-healthcare-services-ipo
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.
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