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MEDI ASSIST HEALTHCARE SERVICES LIMITED INITIAL PUBLIC OFFERING OPENS ON MONDAY, JANUARY 15, 2024

Mumbai, January 10, 2024: MEDI ASSIST HEALTHCARE SERVICES LIMITED (the “Company”), shall open its initial public offering of Equity Shares on Monday, January 15, 2024.

The Anchor Investor Bidding Date is Friday, January 12, 2024.  The Offer will open on Monday, January 15, 2024 for subscription and will close on Wednesday, January 17, 2024.

The Price Band of the Offer has been fixed at ₹ 397 to ₹ 418 per Equity Share. Bids can be made for a minimum of 35 Equity Shares and in multiples of 35 Equity Shares thereafter.

The Offer comprises of up to 2,539,092 Equity Shares by Dr. Vikram Jit Singh Chhatwal; Up to12,468,592 Equity Shares by Medimatter Health Management Private Limited (and collectively with Dr. Vikram Jit Singh Chhatwal, the “Promoter Selling Shareholders”); Up to 6,606,084 Equity Shares by Bessemer Health Capital LLC (the“Promoter Group Selling Shareholder”); Up to 6,275,706 Equity Shares by Investcorp Private Equity Fund I (the “Investor Selling Shareholder”); Up to 26,382 Equity Shares by Vivek Pandit, up to 22,613 Equity Shares by Rahul M Khanna, up to 17,337 Equity Shares by Shankar Rao Palepu (jointly with Palepu Neena Rao), up to 17,337 Equity Shares by Pramod Manohar Ahuja (jointly with Jyoti Ahuja), up to 17,337 Equity Shares by Keshav Sanghi (jointly with Vinita Keshav Sanghi), up to 13,568 Equity Shares by Amitkumar Gajendrakumar Patni (jointly with Ruchi Amitkumar Patni), up to 13,568 Equity Shares by Arihant Patni, up to 5,276 Equity Shares by Jyoti Ahuja (jointly with Pramod Manohar Ahuja) and up to 5,276 Equity Shares by Ranjan Surajprakash Sanghi (jointly with Jayashree Sanghi) (Collectively, the Other Selling Shareholders”)

 

The Equity Shares each offered through the Red Herring Prospectus dated January 9, 2024 (the “RHP”) are proposed to be listed on the stock exchanges being BSE Limited (the “BSE”) and National Stock Exchange of India Limited (the “NSE”, and together with the BSE, the “Stock Exchanges”). For the purposes of the Offer, BSE is the Designated Stock Exchange.

The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended, (the “SCRR”) read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process, in compliance with Regulation 6(1) of the SEBI ICDR Regulations, where not more than 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (the “QIB Category”), provided that the Company, Promoter Selling Shareholders and Promoter Group Selling Shareholder in consultation with the BRLMs, may allocate up to 60% of the QIB Category to Anchor Investors, on a discretionary basis (the “Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the price at which Equity Shares are allocated to Anchor Investors (the “Anchor Investor Allocation Price”). In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Category (other than Anchor Investor Portion) (“Net QIB Category”).

Further, 5% of the Net QIB Category shall be available for allocation on a proportionate basis to Mutual Funds only and the remainder of the Net QIB Category shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Offer Price.

Further, not less than 15% of the Offer shall be available for allocation to Non-Institutional Investors (“NIIs”) (the “Non-Institutional Category”) of which one-third of the Non- Institutional Category shall be available for allocation to Bidders with a Bid size of more than ₹ 200,000 and up to ₹ 1,000,000 and two-thirds of the Non-Institutional Category shall be available for allocation to Bidders with a Bid size of more than ₹ 1,000,000 provided that under-subscription in either of these two sub-categories of the Non-Institutional Category may be allocated to Bidders in the other sub-category of the Non-Institutional Category in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. Further, not less than 35% of the Offer shall be available for allocation to Retail Individual Investors (“RIIs”) (the “Retail Category”), in accordance with the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price.

All Bidders (other than Anchor Investors) shall mandatorily participate in this Offer through the Application Supported by Block Amount (“ASBA”) process, and shall provide details of their respective bank account, including UPI ID (defined hereinafter) for UPI Investors (defined hereinafter) in which the Bid Amount will be blocked by the SCSBs or the Sponsor Banks, as the case may be. Anchor Investors are not permitted to participate in the Offer through the ASBA process. For details, specific attention is invited to (“Offer Procedure”) on page 389 of the RHP.

Axis Capital Limited, IIFL Securities Limited, Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited), SBI Capital Markets Limited are the book running lead managers to the Offer.

 

All capitalized terms referred to in this press release that have not been defined shall have the same meaning as prescribed in the RHP.

 

Disclaimer:

Medi Assist Healthcare Services Limited is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its Equity Shares and has filed the RHP with RoC on January 09, 2024. The RHP shall be available on the website of SEBI at www.sebi.gov.in, websites of the Stock Exchanges i.e. BSE and NSE at www.bseindia.com and www.nseindia.com, respectively, the website of the Company at www.mediassist.in and the websites of the BRLMs, i.e. Axis Capital Limited, IIFL Securities Limited, Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) and SBI Capital Markets Limited at www.axiscapital.co.in,www.iiflcap.com, www.nuvama.com andwww.sbicaps.com, respectively. Bidders should note that investment in equity shares involves a high degree of risk and for details refer to the Red Herring Prospectus, including the section titled “Risk Factors” of the Red Herring Prospectus when available. Potential Bidders should not rely on the DRHP filed with SEBI for making any investment decision.

The Equity Shares offered in the Offer have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or any state securities laws in the United States, and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act, and applicable state securities laws in the United States. Accordingly, the Equity Shares are being offered and sold (i) within the United States solely to persons who are reasonably believed to be “qualified institutional buyers” (as defined in Rule 144A under the Securities Act) pursuant to Section 4(a) of the Securities Act, or (ii) outside the United States in “offshore transactions” as defined in and in compliance with Regulation S under the Securities Act and the applicable laws of the jurisdiction where those offers and sales occur. There will be no public offering of the Equity Shares in the United States.

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