Insurtech Company Medi Assist To File Initial Papers With Sebi For IPO


Medi Assist Healthcare Services, a health-tech and insurtech company, has filed preliminary papers with Sebi to raise funds through an initial public offering (IPO).

The company is offering up to 2.8 crore equity shares through an offer for sale (OFS). The shares will be listed on the BSE and NSE. This is the company’s second attempt to go public.

In May 2021, it had filed draft papers with Sebi for an IPO, but deferred the plan due to the pandemic.The company is selling shares in the OFS to raise funds for general corporate purposes. The proceeds will not go to the company, but to the selling shareholders, which include Vikram Jit Singh Chhatwal, Medimatter Health Management, Bessemer India Capital Holdings II Ltd, Bessemer Health Capital, and Investcorp Private Equity Fund I.

Medi Assist is a leading health benefits administrator in India. It provides a range of services to employers, retail members, and public health schemes. The company has a strong track record of growth and profitability.

The IPO is expected to be launched in the coming weeks. The company has appointed Axis Capital, Nuvama Wealth Management, IIFL Securities, and SBI Capital Markets as merchant bankers to the issue.

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