05-12-2021 03:57 PM | Source: Accord Fintech
Medi Assist Healthcare Services files IPO papers with SEBI
News By Tags | #442

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Medi Assist Healthcare Services has filed preliminary papers with capital markets regulator Securities and Exchange Board of India (SEBI) to float an initial share-sale. According to the draft red herring prospectus, the initial public offer (IPO) is entirely an offer of sale of up to 28,028,168 equity shares of Medi Assist by promoters and existing shareholders.

Those selling shares in the offer for sale include Dr Vikram Jit Singh Chhatwal, Medimatter Health Management, Bessemer India Capital Holdings II, Bessemer Health Capital LLC and Investcorp Private Equity Fund I. Bengaluru-based Medi Assist is a healthtech and insurtech company focused on administering health benefits across employers, retail members and public health schemes.

As per the draft papers, the company managed Rs 7,829.5 crore of health insurance premiums for the financial year 2020. Axis Capital, Edelweiss Financial Services, IIFL Securities and SBI Capital Markets have been appointed as merchant bankers to advice the company on the IPO.