MUMBAI : Bengaluru-based Medi Assist Healthcare Services Ltd on Tuesday filed a draft red herring prospectus (DRHP) for its initial public offering (IPO) with the Securities and Exchange Board of India (Sebi). Medi Assist Healthcare Services, which manages claims related to health insurance, claims to be the largest health benefits administrator in terms of revenues and premium serviced for health insurance policies. While under the TPA (third party administrator) regulations, its primary clients are insurance companies, it also serves as an intermediary between general and health insurance companies and the insured members (under retail, corporate and insurance backed public health insurance policies), insurance companies and healthcare providers (such as hospitals), and the government and beneficiaries of public health schemes. According to the DRHP, it managed Rs7,829.5 crore of health insurance premiums for the financial year 2020. Axis Capital, Edelweiss Financial Services, IIFL Securities and SBI Capital Markets are managing the IPO.

Source: Mint May 11, 2021 06:37 UTC