Medi Asssist Healthcare mobilises ₹351 crore from anchor investors ahead of IPO

The company allocated 84,08,449 equity shares to anchor investors at ₹418 per share, as per the regulatory filing.

Also read: Medi Assist Healthcare IPO: Investcorp, Bessemer sell shares worth ₹536 crore ahead of IPO opening

“Of the total allocation of 84,08,449 equity shares to anchor investors, 40,70,768 equity shares were allocated to 11 domestic mutual funds through a total of 18 schemes,” the company said in its filing to exchanges.

The anchor investors list included Nomura Trust, Goldman Sachs, Ashoka Whiteoak, Pinebridge Global Funds, Troo Capital, and HSBC.

HDFC Mutual Fund, Kotak Mahindra Trustee, Aditya Birla Sun Life Trustee, SBI Life Insurance Company, Mirae Asset, Canara Robeco Mutual Fund, Tata Mutual Fund, Sundaram Mutual Fund, Bandhan Mutual Fund, Edelweiss Trusteeship, Bajaj Allianz Life Insurance Company, Max Life Insurance Company and SBI General Insurance Company also participated in the anchor book.

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Medi Assist is looking to raise over ₹1,171.6 crore in an upcoming initial public offering (IPO) by issuing 2.8 crore equity shares. The price range for the offering has been set at ₹397-418 per share.

It’s important to note that the fundraising strategy exclusively involves an offer for sale (OFS) by existing shareholders, with no provision for a fresh issue. As a result, the proceeds from the IPO, excluding expenses, will be directed to the selling shareholders.

Vikram Jit Singh Chhatwal and his wife Savitri Choudhury, owners of Medimatter Health Management, are set to divest 1,24,68,592 equity shares. Simultaneously, the remaining 62,75,706 shares belonging to the investor Investcorp Private Equity Fund I, a division of the Bahrain-based Investcorp Group, will also be included in the Offer for Sale (OFS).

Also read: IPO fund raising likely to surpass ₹4.15 lakh crore this year: Kotak Investment Banking

On January 10th, Investcorp offloaded 86,34,746 equity shares, while Bessemer India Capital Holdings II, the promoter entity, sold 41,86,500 equity shares of Medi Assist in anticipation of the IPO launch. As a result, their current ownership stakes in the company now stand at 9.11 percent and 29.84 percent, respectively.

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Published: 12 Jan 2024, 10:41 PM IST