Medi Assist Healthcare Services Ltd Share Price – NSE  /  BSE

Insurance, Small Cap

Net profit of Medi Assist Healthcare Services declined 4.74% to Rs 20.51 crore in the quarter ended December 2023 as against Rs 21.53 crore during the previous quarter ended December 2022. Sales rose 32.29% to Rs 165.98 crore in the quarter ended December 2023 as against Rs 125.47 crore during the previous quarter ended December 2022.

Powered by Capital Market - Live News

Medi Assist Healthcare Services will hold a meeting of the Board of Directors of the Company on 13 February 2024.

Powered by Capital Market - Live News

The scrip was listed at Rs 465, exhibiting a premium of 11.24% to the issue price.

So far, the stock has hit a high of 509.60 and a low of 495.65. On the BSE, over 5.42 lakh shares of the company were traded in the counter so far.

The initial public offer (IPO) of Medi Assist Healthcare Services was subscribed 16.25 times. The issue opened for bidding on 15 January 2024 and it closed on 17 Thursday 2024. The price band of the IPO was fixed at Rs 397-418 per share.

The issue was complete offer for sale of 28,028,168 shares aggregating up to Rs 1171.58 crore by existing shareholders.

The company will not directly receive any proceeds from the offer, and all the offer proceeds will be received by the selling shareholders, in proportion to the offered shares sold by them.

Medi Assist Healthcare Services provides third party administration (TPA) services to insurance companies through its wholly owned Subsidiaries, Medi Assist TPA, 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, among others.

The company also acts as a facilitator between insurance companies and their policy holders, insurance companies and healthcare providers (such as hospitals), and the Government and beneficiaries of public health schemes.

The firm reported a net profit of Rs 24.26 crore and sales of Rs 301.96 crore for the six months ended on 30 September 2023.

Powered by Capital Market - Live News

The equity shares of Medi Assist Healthcare Services (Scrip Code: 544088) are listed effective 23 January 2024 and admitted to dealings on the Exchange in the list of ''B'' Group Securities.

Powered by Capital Market - Live News