Medi Assist Healthcare Services Limited

Initial Public Offering


January 2024


Banking, Financial Service and Insurance


INR 17,065 MN

Deal Value

Medi Assist Healthcare Services Limited

Deal Details

  • First IPO of Third Party Administrator in India as well as Asia
  • Medi Assist successfully completed Secondary Pre-IPO placement of ~INR 535 crs at the IPO Price taking care of any immediate liquidity event
  • Deal saw strong participation across investor categories garnering more than INR 13,000 crs
    • QIB – ~42x, HNI – ~15x, Retail – ~3x*
  • 100% anchor book was allocated to LO investors
  • Company saw stellar IPO Listing with equity shares opening at 11.2%# premium showcasing investor confidence in Company’s business and management team

Nuvama Contribution

  • Adding to our strong track record of bringing several 1st business stories to the Indian capital markets, Nuvama played a key role in the IPO by bringing key marquee LO investors driving the momentum of the issue and setting pricing benchmark
  • Nuvama led the Secondary Pre-IPO placement – Procured Largest bid of ~INR 175 Crs from a marquee LO FII investor
  • Nuvama garnered anchor participation from a diverse investor set including ‘Long Only’ FIIs, Mutual Fund and Insurance Company – testimony to having customers investing in the Company itself
  • Pushed the story aggressively through our distribution channel to garner strong interest in HNI & Retail category resulting in 7 lakh+ applications