As many as 95 lakh shares or 13.5% equity of Medi Assist Healthcare Services worth ₹580.5 crore changed hands at ₹612 per share in a block deal on Tuesday, September 3.
On Monday, sources had told CNBC-TV18 that Bessemer India had launched a block deal in Medi Assist Healthcare Services.
Sources said the deal size was to be ₹540.94 crore, with shares being offered at a floor price of ₹570 per share, a 7.7% discount to Monday’s closing price.
Promoter Bessemer India, which is the seller in this transaction, has its remaining holdings in Medi Assist locked until July 18, 2025, sources said. They added that IIFL Securities was the sole book-running lead manager.
Last week, Medi Assist Healthcare Services said its wholly-owned subsidiary Medi Assist Insurance TPA Private Ltd will acquire a 100% equity stake in Paramount Health Services & Insurance TPA Private Ltd (Paramount TPA) for ₹311.8 crore.
Paramount Health Services & Insurance TPA is owned by Fairfax Asia and Dr Nayan Shah and his family. The acquisition represents one of the largest TPA deals in India and equity value is expected to exceed ₹400 crore.
The acquisition was formalised on August 26, 2024, through a share purchase agreement, subject to approval from the Insurance Regulatory and Development Authority of India (IRDAI) and the completion of customary closing formalities.
Shares of Medi Assist Healthcare Services ended Monday’s trade session 4.77% higher at ₹617.8 apiece
Top GainersTop LosersMost ActivePrice ShockersVolume Shockers
| Company | Value | Change | %Change |
|---|---|---|---|
| Bajaj Finserv | 1,842.00 | ₹1.45 | 0.08 |
| Bajaj Auto | 11,106.65 | ₹-19.45 | -0.17 |
| Bajaj Finance | 7,420.00 | ₹-20.05 | -0.27 |
| LTIMindtree | 6,150.00 | ₹-3.50 | -0.06 |
| HCL Tech | 1,800.00 | ₹-6.65 | -0.37 |
On Monday, sources had told CNBC-TV18 that Bessemer India had launched a block deal in Medi Assist Healthcare Services.
Sources said the deal size was to be ₹540.94 crore, with shares being offered at a floor price of ₹570 per share, a 7.7% discount to Monday’s closing price.
Promoter Bessemer India, which is the seller in this transaction, has its remaining holdings in Medi Assist locked until July 18, 2025, sources said. They added that IIFL Securities was the sole book-running lead manager.
As per data available on the BSE, Bessemer India Capital Holdings held 29.22% stake in the company at the end of the June quarter.
Last week, Medi Assist Healthcare Services said its wholly-owned subsidiary Medi Assist Insurance TPA Private Ltd will acquire a 100% equity stake in Paramount Health Services & Insurance TPA Private Ltd (Paramount TPA) for ₹311.8 crore.
Paramount Health Services & Insurance TPA is owned by Fairfax Asia and Dr Nayan Shah and his family. The acquisition represents one of the largest TPA deals in India and equity value is expected to exceed ₹400 crore.
The acquisition was formalised on August 26, 2024, through a share purchase agreement, subject to approval from the Insurance Regulatory and Development Authority of India (IRDAI) and the completion of customary closing formalities.
Shares of Medi Assist Healthcare Services ended Monday’s trade session 4.77% higher at ₹617.8 apiece