MEDIASSIST

Feb 5 (Reuters) - Medi Assist Healthcare Services Ltd MEDA.NS:

• MEDI ASSIST HEALTHCARE SERVICES LTD - APPROVES FUND RAISING OF UP TO 3.50 BILLION RUPEES

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** Shares of Medi Assist Healthcare Services MEDA.NS rise as much as 11.2% to a record high of 624.90 rupees

** Stock last up 8.6%, set for best day on record

** Co acquires Paramount Health Services & Insurance TPA for enterprise value of 3.12 bln rupees ($37.2 mln) and equity valuation "expected to exceed" 4 bln rupees

** Says market share to increase ~6% in Group segment and by ~4% in health insurance industry

** Investec says 4 bln rupee valuation of Paramount implies 2.5X FY24 sales

** Says the deal is at a higher multiple than MEDA's acquisitions of Raksha (1.7x sales) and Medvantage (1x sales) but this is justified given Paramount's profitability is larger than Raksha and Medvantage

** Adds says the acquisition suggests 12%-15% upgrade to its FY26 PAT estimate for MEDA, but will revise estimates after conference call on Aug. 27

** Stock was listed on Jan. 23; up ~46% from IPO price

($1 = 83.9300 Indian rupees)

(Reporting by Varun Vyas in Bengaluru)

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Aug 26 (Reuters) - Medi Assist Healthcare Services Ltd MEDA.NS:

• UNIT TO ACQUIRE 100% EQUITY STAKE IN PARAMOUNT TPA

• COST OF ACQUISITION AT ENTERPRISE VALUE OF 3.12 BILLION RUPEES

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May 15 (Reuters) - Medi Assist Healthcare Services Ltd MEDA.NS:

• MEDI ASSIST HEALTHCARE SERVICES MARCH-QUARTER CONSOL NET PROFIT 251 MILLION RUPEES VERSUS PROFIT 158.6 MILLION RUPEES

• MEDI ASSIST HEALTHCARE SERVICES MARCH-QUARTER CONSOL TOTAL INCOME 1.71 BILLION RUPEES VERSUS 1.39 BILLION RUPEES

• MEDI ASSIST HEALTHCARE SERVICES LTD - DIVIDEND 4 RUPEES PER SHARE

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** Shares of Medi Assist Healthcare Services MEDA.NS jump ~24% in debut trade vs initial public offer (IPO) price of 418 rupees

** Stock opened at 460 rupees and climbed to 518 rupees, valuing the health tech provider at 35.67 bln rupees ($429.3 mln)

** Stock currently up ~12% and has stayed above IPO price so far; volume at ~15 mln shares

** IPO had offer for sale of shares worth up to 11.72 bln rupees from stakeholders; offering oversubscribed 16.25x - exchange data

($1 = 83.0858 Indian rupees)

(Reporting by Rama Venkat in Bengaluru)

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** Initial public offering (IPO) of Medi Assist Healthcare Services oversubscribed 7.61 times so far on final day of bids, attracting bids worth 62.39 bln rupees ($751 mln)

** Investors bid for more than 149.2 mln shares as of 2:30 p.m. IST vs 19.6 mln shares on offer - exchange data

** Health tech provider's IPO had offer for sale of shares worth up to 11.72 bln rupees from stakeholders; price band set at 397-418 rupees per share

** Co valued at 28.78 bln rupees at upper end of price band

** Co posted 15.3% rise in consolidated net profit for year ended March 31, revenue climbed 28.2%

** Axis Capital, SBI Capital Markets among bookrunning lead managers

** Medi Assist Healthcare set to list on exchanges on Monday

($1 = 83.0760 Indian rupees)

(Reporting by Rama Venkat)

(([email protected]; https://twitter.com/ramavenkat0607;))

NEW DELHI, Aug 26 (Reuters) - Medi Assist Healthcare Services has filed draft papers with the capital markets regulator Securities and Exchange Board of India for an initial public offering (IPO).

The move by Medi Assist, its second attempt at a public listing, comes as investors are increasingly bullish on the medical insurance sector with sales of products on the rise since the COVID-19 pandemic.

The company is offering to sell up to 28 million equity shares held by investors, including its founder Vikram Jit Singh Chhatwal and Bessemer Health Capital, in the open market, which will give some of its investors an exit.

The company, which does not plan to raise fresh funds through the IPO, said it will decide the price of shares for sale after consulting with banks, according to the draft papers filed with the market regulator on Saturday.

Axis Capital and IIFL Securities are among the book running lead managers for the IPO, which also comes as investors are increasingly getting bullish on India's hospital space.

Medi Assist is an intermediary between health insurers and individuals as well as healthcare providers.

(Reporting by Sethuraman N R in Bengaluru and Aditi Shah in New Delhi; Editing by Mike Harrison)

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