Bahrain-based alternative investment firm Investcorp and Silicon Valley venture capital firm Bessemer Venture Partners will generate multibagger returns by selling part of their stakes in Medi Assist Healthcare Services Ltd ..
As a part of the deal, Bengaluru-based Medi Assist will buy 100% stake in Mumbai-based Medvantage, formerly UnitedHealthcare Parekh Insurance TPA, which it plans to fund through cash from its balance sheet.
Read more about IPO buzz on the Street as dozen finserv players line up Rs 55,000 cr issues on Business Standard. As Paytm board reportedly approving a share sale plan running north of Rs 22,000 crore,IPO market is set for a big days as over a dozen finserv players are set to mop up over Rs 55,000 cr this fiscal
If Paytm s Rs 22,000 crore IPO issue materialises, it will be the largest IPO ever in the country, eclipsing the hitherto largest issue the Rs 15,000-crore share sale by the government in Coal India in October 2010, says investment bankers seeking not to be quoted.
TPAs manage documentation and processing of claims for the insurer to make final settlement
Medi Assist Healthcare Services has filed preliminary papers with capital markets regulator Securities and Exchange Board of India (Sebi) for an initial public offering (IPO). Medi Assist IPO will be the first primary market sale by an insurance third-party administrator (TPA) in India. The IPO will be an offer of sale of up to 28,028,168 equity shares by the promoters and existing shareholders, including Dr Vikram Jit Singh Chhatwal, Medimatter Health Management, Bessemer India Capital Holdings II, Bessemer Health Capital LLC and Investcorp Private Equity Fund I.