Investcorp and Bessemer Sell ₹536 Crore Worth of Medi Assist Healthcare Shares Ahead of IPO

Investcorp Private Equity Fund I and Bessemer India Capital Holdings II have sold shares worth ₹536 crore in Medi Assist Healthcare Services ahead of the company’s IPO opening. The allocation to anchor investors for the IPO is set to take place on January 12. This article will provide an overview of the Medi Assist Healthcare IPO, the share sale by Investcorp and Bessemer, and the current grey market premium for the company’s shares.

DETAILS:

1. Details of the Medi Assist Healthcare Services IPO:
   • The price band for the IPO has been set at ₹397 to ₹418 per equity share.
   • The IPO subscription will be open from January 15 to January 17.
   • The allocation to anchor investors is scheduled for January 12.
   • Medi Assist Healthcare Services provides third-party administration services to insurance companies through its subsidiaries.
2. Share sale by Investcorp and Bessemer:
   • Bessemer India Capital Holdings II, one of the promoters of Medi Assist, sold 6.08% of the company’s equity shares to Novo Holdings A/S for ₹175 crore.
   • Bessemer India Capital’s shareholding in Medi Assist has reduced from 35.92% to 29.84%.
   • Investcorp Private Equity Fund I sold 12.54% of the company’s equity shares to six investors for ₹360.93 crore.
   • Investcorp’s shareholding in Medi Assist has decreased from 21.65% to 9.11%.
3. Current grey market premium for Medi Assist Healthcare shares:
   • The grey market premium for Medi Assist shares is currently +64, down from +80 on January 9.
   • This indicates that the shares were trading at a premium of ₹64 in the grey market.
   • Based on the IPO price band and the current premium, the estimated listing price of Medi Assist Healthcare shares is ₹482, which is 15.31% higher than the IPO price.

FAQs:

1. What is the price band for the Medi Assist Healthcare Services IPO?

   • The price band for the IPO is ₹397 to ₹418 per equity share.

2. When is the IPO subscription for Medi Assist Healthcare Services scheduled?

   • The IPO subscription will be open from January 15 to January 17.

3. Who are the book running lead managers for the IPO?

   • The book running lead managers for the IPO are Axis Bank, IIFL Securities, Nuvama Wealth Management, and SBI Capital Markets.

4. What services does Medi Assist Healthcare Services provide?

   • Medi Assist Healthcare Services offers third-party administration services to insurance companies, including network management and policy administration.

5. What is the current grey market premium for Medi Assist Healthcare shares?

The current grey market premium for Medi Assist shares is +64, indicating a premium of ₹64 in the grey market.