Medi Assist Healthcare IPO: Key Details, Analysis, and Recommendations

. Introduction: Medi Assist Healthcare Limited, an insurance-tech company specializing in third-party administration (TPA) services, has launched its initial public offering (IPO) on the mainboard. The subscription period extends from the opening date, January 15, 2024, to January 17, 2024.

2. IPO Price and Size: The IPO price band is set between ₹397 to ₹418 per equity share. The company aims to generate ₹1,171.58 crore through this 100% offer for sale (OFS).

3. Grey Market Premium (GMP): Shares of Medi Assist are trading at a premium of ₹32 in the grey market, indicating positive market sentiment.

4. Subscription Status: By 2:08 PM on the first day of bidding, the IPO was subscribed 0.22 times overall, with the retail portion at 0.41 times and the NII portion at 0.09 times.

5. Lot Size: Investors can apply in lots, with each lot comprising 35 million company shares.

6. Allotment Date: The finalization of share allocation is expected on January 18, 2024.

7. Registrar: Link Intime India Private Limited is the official registrar for this public issue.

8. Listing: The IPO is proposed for listing on both BSE and NSE, with the potential listing date set for January 22, 2024.

9. IPO Review and Recommendations: Several financial analysts have provided their perspectives on the Medi Assist IPO.

• Choice Broking Report: The report gives a 'subscribe' rating, highlighting that the company's unique business model, attractive pricing, dominant position in the TPA market, consistent financial performance, healthy cash flow generation, and dividend payout make it an appealing investment.
• Gaurav Goel, Founder & Director at Fynocrat Technologies: Recommends subscribing to the IPO, seeing it as an alternative way to participate in the long-term growth of the health insurance sector. The report emphasizes the company's leadership in the TPA market and strong growth prospects.
• BP Equities, Canara Bank Securities, and Ventura Securities: Recommend applying for the IPO.
• Swastika Investmart: Maintains a 'neutral' stance on the book build issue.
• SBICAP Securities: No rating provided.

10. Conclusion: Investors are advised to consider these analyses, recommendations, and market conditions before making any investment decisions. The IPO is seen as an opportunity to tap into the growing health insurance sector, with positive indicators such as a discounted P/E multiple compared to peers and a significant market share in the TPA industry. However, individual preferences and risk tolerance should be carefully evaluated before deciding to subscribe. It is always prudent to seek advice from certified financial experts before making any investment decisions.