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Medi Assist submits draft papers for an IPO once again, this time offering just an OFS

<p>The capital markets regulator Sebi has received preliminary paperwork from Medi Assist Healthcare Services in order to raise money via an initial public offering (IPO). The business is making its second effort to go public.</p>
<p>Prior to delaying the plan due to difficult market circumstances brought on by the pandemic, Medi Assist had submitted draft papers to the Securities and Exchange Board of India (Sebi) in May 2021 for the purpose of issuing an IPO.<img decoding=”async” class=”alignnone wp-image-149048″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/08/theindiaprint.com-largest-police-force-in-the-uk-on-high-alert-following-major-data-breach-download-2023-08-27t181242.979.jpg” alt=”theindiaprint.com largest police force in the uk on high alert following major data breach download 2023 08 27t181242.979″ width=”1257″ height=”704″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/08/theindiaprint.com-largest-police-force-in-the-uk-on-high-alert-following-major-data-breach-download-2023-08-27t181242.979.jpg 300w, https://www.theindiaprint.com/wp-content/uploads/2023/08/theindiaprint.com-largest-police-force-in-the-uk-on-high-alert-following-major-data-breach-download-2023-08-27t181242.979-150×84.jpg 150w” sizes=”(max-width: 1257px) 100vw, 1257px” title=”Medi Assist submits draft papers for an IPO once again, this time offering just an OFS 3″></p>
<p>The first public offering is fully an offer-for-sale (OFS) of up to 2.8 crore shares of Medi Assist by the promoters and current shareholders, according to the new draft red herring prospectus (DRHP) submitted on Friday.</p>
<p>Vikram Jit Singh Chhatwal, Medimatter Health Management, Bessemer India Capital Holdings II Ltd, Bessemer Health Capital LLC, and Investcorp Private Equity Fund I are among the parties selling shares in the OFS.</p>
<p>The corporation won’t get any revenues since the issuance is entirely an OFS; instead, all of the money will go to the selling shareholders.</p>
<p>The firm gave a justification for becoming public, stating that it wanted to reap the benefits of listing equity shares on stock markets and conducting OFS for the selling shareholders.</p>
<p>Medi Assist is a health-tech and insurtech business with headquarters in Bengaluru that specializes in managing health benefits for companies, retail members, and public health programs.</p>
<p>As of March 31, 2023, it collaborated with 36 insurance firms worldwide and in India.</p>
<p>The business has hired Axis Capital, Nuvama Wealth Management, IIFL Securities, and SBI Capital Markets as merchant bankers to provide IPO advice. The company’s equity shares will be listed on the BSE and NSE.</p>

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