Medi Assist Healthcare Services Limited

Medi Assist Healthcare Services Limited is a health-tech and insurance-tech company based in Bengaluru that provides third-party administration services to health insurance companies in India. Through its subsidiaries, the company processes health insurance claims and provides policy administration, customer service and network management on behalf of insurers, acting as an intermediary between insurance companies, healthcare providers and policyholders. The company has been India's largest health benefits administrator by revenue for three consecutive fiscal years through FY2023, holding close to a quarter of industry revenue share. It works with a large number of insurance company partners and maintains a network spanning thousands of hospitals across India, managing a substantial and growing pool of health insurance premiums for corporate, retail and public health scheme members. The company operates a proprietary, technology led platform for claims adjudication and policy administration, which underpins its scale advantage in a business built on processing volumes and service reliability. The initial public offering was structured entirely as an offer for sale, so the listing itself raised no fresh capital for the company and instead provided an exit route and liquidity for existing shareholders, including its private equity investor.

Ahead of the issue, the company raised approximately Rs 351.47 crore from anchor investors at Rs 418 per share, with participation from marquee names including Nomura, Goldman Sachs, HSBC, HDFC Mutual Fund, Kotak Mahindra Trustee, Aditya Birla Sun Life Trustee, SBI Life Insurance, Mirae Asset, Tata Mutual Fund and Sundaram Mutual Fund, among others.